Time for enterprises to pay provident fund and social security

Social insurance is a non-profit social security system with the function of redistribution of income, which the state has to prevent and compel the participation of the majority of the members of the society.

Public Provident Fund, generally referred to as Corporate Provident Fund, is the amount of money that a company retains in addition to its capital. Depending on whether provident fund retention is legally mandatory or not, provident funds can be categorized into legal and arbitrary provident funds. In addition housing provident fund refers to the long-term housing reserves contributed by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions and their active employees.

Social security payment time:

General social security bureaus around the world are usually between the 20th - 25th normal deduction of the company's employees this month's social security fees.

Generally the social security bureau everywhere is generally between the 20th - 25th normal deduction of the company's employees this month's social security fees

. In general, the 26th will be able to check the account, but there are companies deducted a little later, the social security system needs to be processed, it is possible that the end of the month has not yet checked whether the account. Individuals just go to the Social Security Administration to print a list of all clear.

Time of payment of provident fund:

(1) The individual employee's contribution to the housing provident fund, by the unit each month from their wages on behalf of the withholding and payment. The unit shall remit the housing provident fund contributed by the unit and on behalf of the employee to the special account of the housing provident fund within five days from the date of monthly payment of the employee's salary, and the trustee bank shall credit the employee's housing provident fund account.

(2) Newly employed employees start to contribute to the housing fund from the second month of their employment; newly transferred employees start to contribute to the housing fund from the date of salary payment by the transferring organization.

(3) If a unit hires or terminates the labor relationship with an employee, the unit shall register for contribution or change the registration at the Housing Provident Fund Management Center within 30 days from the date of hiring or termination of the labor relationship, and go to the entrusted bank for the establishment, transfer or closure of the employee's housing provident fund account with the examination and approval documents of the Housing Provident Fund Management Center.

(4) A newly established unit shall register for housing provident fund contribution at the Housing Provident Fund Management Center within 30 days from the date of establishment and go to the trustee bank for the establishment of individual housing provident fund accounts for the unit's employees with the examination and approval documents of the Housing Provident Fund Management Center within 20 days from the date of registration.

(5) In case of merger, separation, cancellation, dissolution or bankruptcy of a unit, the original unit or liquidation organization shall apply for registration of change or cancellation at the Housing Provident Fund Management Center within 30 days from the date of the occurrence of the aforesaid circumstances, and shall apply for transfer or closure of the housing provident fund accounts of the employees of the unit at the entrusted bank with the examination and approval documents of the Housing Provident Fund Management Center within 20 days from the date of the registration of the change or cancellation. The transfer or closure of the account for the unit's employees at the entrusted bank.

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