Is it cost-effective to pay social security in the name of your company?

It is cost-effective for our company to pay social security by itself.

It is cost-effective for our company to pay social security by itself. Social security generally refers to social insurance, which is a social and economic system that provides income or compensation for people who are unable to work, temporarily unemployed or suffer losses due to health reasons. The main items of social insurance include endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance.

The social insurance plan is organized by the government, forcing a certain group to use part of its income as social insurance tax to form a social insurance fund. Under certain conditions, the insured can get fixed income or loss compensation from the fund, which is a redistribution system. The goal of social security is to ensure the reproduction of material and labor and social stability.

What are the benefits of self-employed people buying social security by themselves?

1. Pay social security 15 years, and enjoy pension benefits after retirement. As far as Guangzhou is concerned, anyone who has bought Guangzhou social security for ten years can enjoy retirement benefits in Guangzhou when he retires;

2. If you buy medical insurance, you can enjoy outpatient reimbursement and hospitalization. Although both enterprises and individuals need to pay for medical insurance, some of the medical insurance premiums paid by individuals in the current month will be transferred to their own medical insurance cards according to their age, and the money in this account can be used to buy medicines or pay medical expenses at ordinary times.

3. If you buy work-related injury insurance, you will be compensated for your salary and income after you temporarily or permanently lose your ability to work, which is also a medical and life care measure for workers with work-related injuries (work-related injury insurance is purchased by enterprises, and individuals do not have to bear the expenses);

4. After purchasing unemployment insurance for twelve months, you can receive unemployment insurance benefits during the period of unemployment (after purchasing for four years, you can enjoy unemployment benefits for one month in one year and two months in one year after four years; Enjoy unemployment benefits for up to 24 months in your life).

I hope the above content can help you. Please consult a professional lawyer if you have any other questions.

Legal basis: Article 10 of the Social Insurance Law of People's Republic of China (PRC).

Employees shall participate in the basic old-age insurance, and the employer and employees shall jointly pay the basic old-age insurance premium.

Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium.

The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.