What are the procedures for foreign companies to buy social security?

Social security for overseas branches can be achieved in two ways:

1, you can go directly to the local social security bureau;

2. Through the human resources (social security agency) company.

For the first method, we need to pay attention to the following points:

The employer shall participate in social endowment insurance at the domicile registered with the industrial and commercial business license, so the office working in different places can handle insurance for employees working in different places at the location of the head office. For workers who establish labor relations, social insurance relations should be handled by employers, and only qualified flexible employees can personally handle social insurance relations.

Taking Beijing as an example, employees working in different places can apply for social security in two ways:

First, according to the proportion of local wage standards, it is converted into wages and paid to employees (which should be clearly defined in the labor contract, preferably with the consent of the social security department of the local labor department), and paid by employees at the local personal flow window.

Social security, that is, social insurance, is a social and economic system that provides income or compensation for people who have lost their ability to work, are temporarily unemployed or suffer losses due to health reasons.

The social insurance plan is organized by the government, forcing a certain group to use part of its income as social insurance tax (fee) to form a social insurance fund. Under certain conditions, the insured can get fixed income or loss compensation from the fund. It is a redistribution system, and its goal is to ensure the reproduction of material and labor and social stability. The main items of social insurance include old-age social insurance, medical social insurance, unemployment insurance, industrial injury insurance, maternity insurance, etc.

Social insurance must work out a certain proportion of the insured's burden according to the probability of various risk accidents and the total payment expenditure estimated in advance according to the payment standard as the standard for determining the insurance rate. Moreover, unlike commercial insurance, the calculation of social insurance rate needs to consider more social and economic factors besides risk factors in order to obtain a fair and reasonable rate.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.