What is the meaning of unemployment insurance in social security card?

Unemployment insurance in the social security card refers to the system that is mandated by the state through legislation, and is financed by employers, individual employee contributions, and state financial subsidies to set up an unemployment insurance fund, to provide material assistance to workers who have temporarily interrupted their source of livelihood due to unemployment in order to safeguard their basic livelihood, and to create the conditions for them to re-enter the workforce by means of professional training and job placement.

Unemployment insurance is an important part of the social security system and is one of the main programs of social insurance. According to the Law of the People's Republic of China*** and the State Social Insurance Law and other relevant provisions, from May 1, 2016, unemployment insurance will be reduced in stages.

Expanded information:

Article 46 of the Social Insurance Law stipulates, "If an unemployed person's employer and himself have accumulated less than five years of contributions before he loses his job, he shall be entitled to receive unemployment insurance benefits for a period of up to twelve months; if the accumulated contributions have been paid for five years but less than ten years, the maximum period for receiving unemployment insurance benefits shall be eighteen months; if the accumulated contributions have been paid for more than ten years, the maximum period for receiving unemployment insurance benefits shall be twenty-four months.

After re-employment, if one becomes unemployed again, the time of contribution is recalculated, and the period of receiving unemployment insurance benefits is combined with the period of receiving unemployment insurance benefits that should have been received but have not yet been received in the previous unemployment, up to a maximum of twenty-four months."

It should be noted that there is no waiting period for the unemployed to receive unemployment insurance benefits, but there is a maximum payment period. The provision of the Unemployment Insurance Regulations that the maximum period for receiving unemployment insurance benefits is twelve months if the contribution period is one year or less than five years cannot be interpreted to mean that all unemployed persons whose contribution period meets the above requirements can receive twelve months of unemployment insurance benefits.

In practice, localities may appropriately stretch the period of receiving unemployment insurance benefits within the same bracket according to the length of time the unemployed have paid contributions.

Baidu Encyclopedia - Unemployment Insurance