The five insurances will include a variety of different basic types of insurance, including medical insurance, unemployment insurance, pension insurance, maternity insurance, and work-related injury insurance. These insurances will have a lot of importance, which can provide workers with some different social security, or welfare.
1. Is the five insurance compulsory?
In China, it is mandatory. In China's labor law, it clearly stipulates that enterprises must pay five insurances for employees, otherwise they are likely to face legal proceedings. Therefore, all formal enterprises need to pay insurance according to regulations, otherwise they may be affected.
2. Payment method of five insurances
There are mainly many forms, one is enterprise payment, one is bank payment, and the other is social security bureau payment. The first method is that the enterprise pays according to the salary of employees or the local social security policy. Bank payment is also relatively simple. It refers to the signing of an agreement between the enterprise and the bank to pay the fees through the bank. Then they can also go through the social security bureau, and employees can choose to pay fees at the local social security bureau.
3. Coverage of five insurances
Endowment insurance can bring pensions or pensions to all insured persons, and can effectively protect the basic life of the elderly. Medical insurance is mainly to provide some medical expenses, or medical security benefits, which can effectively reduce the burden after suffering from disease. Unemployment insurance is mainly to provide some unemployment benefits for all the unemployed, or employment services can help the unemployed to find new jobs. Industrial injury insurance is relatively simple. It includes industrial injury, rehabilitation services and medical expense reimbursement, which can effectively protect the legitimate rights and interests of every injured person. At the same time, it also includes some maternity allowances and maternity leave benefits, which can effectively protect all the rights and interests of each employee during the childbirth period, provide more benefits, meet the daily life needs, and reduce the economic burden.
