What does it mean to transfer to participate in insurance in Shenzhen

Legal analysis: the new transfer to the employee social insurance participation. agency shall issue a letter of consent to the acceptance and provide relevant information; if the conditions for transfer and continuity are not met, a written explanation shall be given to the applying organization or the insured person; the social security agency in the place where the original basic pension insurance relationship is located shall, within 15 working days of the receipt of the letter of consent to the acceptance, carry out the formalities for the transfer and continuity; the agency in the place of the new insured person shall, upon receipt of the transfer of the basic pension insurance relations and funds by the social security agency in the place of the participant's original basic pension insurance relationship, carry out the transfer and continuity procedures. After receiving the basic pension insurance relationship and funds from the social security agency where the participant's original basic pension insurance relationship was transferred, it shall complete the relevant procedures within 15 working days and promptly notify the employer or the participant of the confirmation.

Legal basis: The Social Insurance Law of the People's Republic of China Article 6 The State shall strictly supervise the social insurance fund.

The State Council and the people's governments of provinces, autonomous regions and municipalities directly under the Central Government establish and improve the supervision and management system of the social insurance fund, and guarantee the safe and effective operation of the social insurance fund.

The people's governments at or above the county level take measures to encourage and support the participation of all sectors of society in the supervision of social insurance funds.