The social security year is July 1 of the current year to June 30 of the following year?

The Social Security year runs from July 1 of the current year to June 30 of the following year.

Social security has a final annual contribution base, which is calculated from July 1 of the previous year to June 30 of the current year. Social insurance is a social and economic system that provides income or compensation for the population that is incapacitated, temporarily out of work, or has suffered a loss due to health reasons. The main items of social insurance include pension insurance, medical insurance, unemployment insurance, work injury insurance and maternity insurance.

Social insurance programs are organized by the government, which forces a certain group of people to form a social insurance fund by paying a part of their income as a social insurance tax (fee), from which the insured can receive a fixed amount of income or compensation for their losses if certain conditions are fulfilled, and it is a kind of redistributive system, the goal of which is to ensure the reproduction of material and labor force and the stability of the society.

In China, social insurance is an important part of the social security system and occupies a central position in the whole social security system. In addition, social insurance is a kind of contributory social security, which is mainly financed by employers and workers themselves, with the government subsidizing and assuming the ultimate responsibility. But workers can only enjoy the corresponding social insurance benefits if they fulfill their legal obligation to make contributions and meet the legal conditions.

Social insurance is one of the most important components of the social security system. Therefore, when discussing the history of social insurance it is impossible to take social insurance out of social security. Social insurance is a system in which the state, through legislation, compels the establishment of a social insurance fund to give necessary material assistance to workers participating in labor relations in case of incapacity or unemployment. Social insurance is not for profit.

Legal Basis

The Social Insurance Law of the People's Republic of China Article 2 The State establishes a social insurance system for basic old-age insurance, basic medical insurance, industrial injury insurance, unemployment insurance, maternity insurance and other social insurance systems to safeguard the citizens' rights to obtain material assistance from the State and society in old age, sickness, industrial injury, unemployment, maternity and other cases in accordance with law. The right to receive material assistance from the state and society in old age, sickness, work injury, unemployment and childbirth.