What does social security accumulation fund mean?

Legal analysis: social security provident fund generally refers to the company's provident fund, which is the amount of funds reserved by the company outside the capital. According to whether the retention of provident fund is legally mandatory, provident fund can be divided into statutory provident fund and arbitrary provident fund. In addition, the housing accumulation fund refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions and their employees. Social security accumulation fund refers to the living expenses and nursing expenses paid for the old-age period when the workers lose their ability to work due to old age. Pay living expenses and medical expenses, job-changing training, self-help in production and. Safeguard measures such as job introduction. The content of social security accumulation fund includes endowment insurance, that is, when workers lose their ability to work due to old age, they pay living expenses and take care of their life during their old age. Unemployment insurance, that is, payment of living expenses, medical expenses, job-changing training, self-help in production and. Safeguard measures such as job introduction. Work-related injury insurance, that is, compensation for the wages and income of workers who temporarily or permanently lose their ability to work due to work-related injuries, is also a medical and life-care measure for workers who lose their ability to work due to work-related injuries. Medical insurance, that is, medical and health care measures for workers during their illness. Maternity insurance, that is, income subsidies and safeguard measures for female employees during their childbearing period.

Legal basis: Regulations on the Management of Housing Provident Fund Article 2 These Regulations are applicable to the deposit, withdrawal, use, management and supervision of housing provident fund in People's Republic of China (PRC).

The term "housing accumulation fund" as mentioned in these Regulations refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units, social organizations and their employees.

People's Republic of China (PRC) Social Insurance Law Article 2 The state establishes social insurance systems such as basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance and maternity insurance to protect citizens' right to get material help from the state and society in the event of old age, illness, industrial injury, unemployment and maternity.