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What if the company goes bankrupt and social security stops?
When the company goes bankrupt, employee social security can be transferred. If the employing unit is declared bankrupt according to law, the labor contract shall be terminated. If the employer terminates the labor contract with the employee, the unit shall handle the formalities for the transfer of the file and social insurance relationship for the employee within fifteen days.
Legal objectivity:
Article 50 of the Labor Contract Law: The employing unit shall issue a certificate of dissolution or termination of the labor contract at the time of dissolution or termination, and go through the formalities of transferring the relationship between files and social insurance for the employee within 15 days. Laborers shall handle the work handover according to the agreement of both parties. If the employing unit should pay economic compensation to the workers in accordance with the relevant provisions of this law, it should pay it when the work handover is completed. The employing unit shall keep the text of the dissolved or terminated labor contract for at least two years for future reference.
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