What are the benefits of enterprises paying social security?

What are the benefits of paying social security to employees?

1. Avoid risks and reduce disputes.

Enterprises can avoid unnecessary labor disputes and illegal risks by participating in insurance according to law, standardizing employment and abiding by the law.

2. Create benefits and assume social responsibilities.

After the enterprise participates in social security for employees, employees can get material help and compensation from the state and society in cases of illness, work injury, unemployment, maternity and retirement, which increases employees' satisfaction and sense of belonging to the enterprise and protects their legitimate rights and interests.

This shows that participating in social insurance can create greater economic benefits for enterprises, build harmonious labor relations and promote social prosperity and stability.

3. Reduce the comprehensive labor costs of enterprises.

Take industrial injury insurance as an example, the payment ratio is usually between 0.5% and 2% of the total monthly salary of employees. When employees are disabled or even injured, the sum of funeral subsidies and one-time work death subsidies paid by social security funds to employees has exceeded 500,000 yuan.

Enterprises participating in insurance according to law actually avoid the risk of employment, and social security expenses can be deducted before tax, which virtually reduces the cost of employment.