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What is the impact of not transferring social security?
Legal basis: Article 50 of People's Republic of China (PRC) 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 for the transfer of files and social insurance relations for employees 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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