What does it mean to pay in full?

Legal analysis: Full payment of five insurances and one gold means that the enterprise fully undertakes the amount of five insurances and one gold that it should pay for its employees. Five insurances and one gold refer to several kinds of security benefits provided by employers, including endowment insurance, medical insurance, unemployment insurance, work injury insurance, maternity insurance and housing accumulation fund. Social security is divided into units and individuals. The specific social security contributions are: endowment insurance, with units and individuals paying 20% and 8% respectively; Medical insurance, units and individuals pay 12% and 2% respectively; Unemployment insurance, units and individuals pay 2% and 0% respectively; Maternity insurance units pay 0.60%, and individuals do not pay; Work-related injury insurance units pay 2%, and individuals do not pay.

Legal basis: People's Republic of China (PRC) Labor Law.

Article 70 The state develops social insurance undertakings and establishes social insurance systems and social insurance funds, so that workers can get help and compensation in old age, illness, work injury, unemployment and childbirth.

Article 71 The level of social insurance should be compatible with the level of social and economic development and social affordability.

Article 72 The sources of social insurance funds shall be determined according to the types of insurance, and social pooling shall be gradually implemented. Employers and workers must participate in social insurance and pay social insurance premiums according to law.