4. Collection and Payment of Social Insurance Premiums Tentative Regulations

Link: http://www.molss.gov.cn/gb/ywzn/2006-02/15/content_106783.htm

The Chinese government attaches great importance to establishing and improving its social security system. The Constitution of the People's Republic of China stipulates that the state shall establish and improve a social security system corresponding to the level of economic development. The Chinese government regards economic development as the basic prerequisite for improving people's livelihood and effecting social security. China's social security system includes social insurance, social welfare, the special care and placement system, social relief and housing services. As the core of the social security system, social insurance includes old-age insurance, unemployment insurance, medical insurance, work-related injury insurance and maternity insurance. China's social insurance system is currently governed by a multitude of policies and directives at both central and provincial level.

The enterprises must participate in social insurance scenarios for pension, unemployment, health care, work-related injuries, and maternity leave in accordance with relevant state regulations. They must pay the full amount of social insurance premiums to social insurance agencies in time. The accounting of expenses for social insurance shall follow relevant state regulations. Individual employees are required to pay pension premium accordingly.

Enterprises should establish Employment and Pension Manuals to record their employees' length of employment, salary, and premium and insurance payment on pension, unemployment, work-related injuries, and health care.