What kind of punishment will the company have if it doesn't sign a contract with employees and buy social security?

Legal analysis: the consequences of units not buying social security are: social security agencies have the right to directly fine employers and responsible persons who do not apply for social security registration; Social security agencies have the right to directly fine employers who fail to pay social insurance premiums in full and on time; Employees can therefore terminate the labor contract and ask the unit to pay economic compensation.

Legal basis: Article 38 of People's Republic of China (PRC) Labor Contract Law. Under any of the following circumstances, the laborer may terminate the labor contract: (1) failing to provide labor protection or working conditions as agreed in the labor contract; (2) Failing to pay labor remuneration in full and on time; (3) Failing to pay social insurance premiums for laborers according to law; (4) The rules and regulations of the employing unit violate the provisions of laws and regulations and damage the rights and interests of workers; (5) The labor contract is invalid due to the circumstances specified in the first paragraph of Article 26 of this Law; (6) Other circumstances under which the laborer can terminate the labor contract as stipulated by laws and administrative regulations. If the employer forces the laborer to work by means of violence, threat or illegal restriction of personal freedom, or if the employer illegally directs or forces the risky operation to endanger the personal safety of the laborer, the laborer may immediately terminate the labor contract without notifying the employer in advance.