What will happen if the company defaults on social security?

1, legal analysis: First, the social insurance administrative department first ordered it to make corrections within a time limit. Second, if it has not been paid, you can go to the bank to inquire about its account and apply to the relevant departments for the decision to share the insurance premium. Third, if the balance of the enterprise is less than the insurance premium payable, the employer shall be ordered to provide guarantee.

2. Legal basis: If the employer fails to pay social insurance premiums in full and on time, the social insurance premium collection agency shall order it to pay or make up within a time limit. If the employer fails to pay or make up the social insurance premium within the time limit, the social insurance premium collection agency may inquire about its deposit account in banks and other financial institutions, and may apply to the relevant administrative department at or above the county level for making a decision on the allocation of social insurance premiums, and notify its bank or other financial institutions in writing to allocate social insurance premiums. If the balance of the employer's account is less than the social insurance premium that should be paid, the social insurance premium collection agency may require the employer to provide guarantee and sign a deferred payment agreement.

3. If the employer fails to pay the social insurance premium in full and fails to provide guarantee, the social insurance premium collection agency may apply to the people's court for sealing up, distraining and auctioning the property whose value is equivalent to the social insurance premium that should be paid, and the proceeds from the auction will be used to offset the social insurance premium.