What does social security subsidy mean?

Legal analysis: In order to encourage employers to recruit unemployed people and support unemployed people to find jobs for themselves, start their own businesses and find jobs flexibly, commercial enterprises and service enterprises can apply for social insurance subsidies from local labor and social security departments at or above the county level when recruiting people with re-employment concessions.

Legal basis: Notice of the Ministry of Finance and the Ministry of Labor and Social Security on Further Strengthening the Management of Employment and Re-employment Funds (III) Social insurance subsidies. Social insurance subsidies shall be paid first and then supplemented. 1. Social insurance subsidies for employees of enterprises (units). For all kinds of commercial enterprises and service enterprises (except industries restricted by the state), enterprises (units) that recruit new employees with re-employment preferential treatment and sign labor contracts with them for more than 1 year, and enterprises that arrange people with employment difficulties with re-employment preferential treatment in public welfare posts shall be subsidized according to the basic old-age insurance premiums, basic medical insurance premiums and unemployment insurance premiums that should be paid by those who meet the conditions for enjoying social insurance subsidies. It does not include the basic old-age insurance premium, basic medical insurance premium and unemployment insurance premium that should be paid by individuals holding re-employment concession cards, and other social insurance premiums that should be paid by enterprises (units) and individuals. The term of social insurance subsidies shall be consistent with the term of the labor contract, and the longest period shall not exceed 3 years; For the "4050" personnel who hold the "Re-employment Concession Card" and have worked in public welfare posts for more than 3 years, the period of social insurance subsidies can exceed 3 years, and all the funds required for social insurance subsidies for more than 3 years shall be borne by local finance. For those who have been approved to enjoy social insurance subsidies before the end of 2005 but have not yet expired, they can enjoy social insurance subsidies according to the provisions of Document No.36 [2005] issued by the State Council, and the term of social insurance subsidies is calculated together, with a cumulative maximum of no more than 3 years. If the employer terminates the labor relationship with the laid-off workers in advance due to non-production and operation difficulties or personal fault of the employees, it shall continue to pay social insurance premiums for the employees until the subsidy expires. Enterprises (units) shall pay the basic old-age insurance premium, basic medical insurance premium and unemployment insurance premium in full and on time as required. When declaring payment, the payment of personnel who meet the conditions of enjoying social insurance subsidies shall be listed separately. After the end of the quarter, you should apply to the local labor and social security department for subsidies for the social insurance premiums paid in the last quarter. The application report for social insurance subsidy funds shall be accompanied by a list of persons enjoying social insurance subsidies, a copy of the re-employment concession card, a copy of the labor contract, a detailed account (table) for the payment of enterprises (units) enjoying social insurance subsidies in the last quarter issued by the social insurance collection agency, and a basic account opened by enterprises (units) in the bank. The funds shall be directly allocated to the enterprise (unit) within 30 days after being audited by the labor and social security department and reviewed by the financial department. Enterprises (units) that have not participated in social insurance and failed to fulfill their obligations to pay social insurance premiums as required, as well as enterprises (units) with incomplete payment procedures and related documents, shall not be given social insurance subsidies.