What about employee social security when the company closes down?

Legal analysis: when the company goes bankrupt, the employer handles the social security transfer procedures for employees. If the employing unit is declared bankrupt according to law, the labor contract shall be terminated. If the employer terminates the labor contract with the employee, it shall go through the formalities for the transfer of the relationship between files and social insurance for the employee within fifteen days.

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.