Job Recruitment Website - Social security inquiry - What does 8% of endowment insurance mean?
What does 8% of endowment insurance mean?
Legal analysis: 8% of endowment insurance is 8% of total wages, and its payment base is calculated according to a person's actual income, including funds and subsidies.
Legal basis: Article 86 of the Social Insurance Law of People's Republic of China (PRC), if the employer fails to pay the social insurance premium in full and on time, the social insurance premium collection agency shall order it to pay it within a time limit or pay it back, and from the date of default, an overdue fine of five ten thousandths shall be added daily; Failing to pay within the time limit, the relevant administrative departments shall impose a fine of more than one time and less than three times the amount owed.
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