What Are the Different Types of Government Benefits?

Statutory benefits are a series of security schemes required by the government for employees to provide social security taxes to businesses and employees based on a certain percentage of their salaries. The purpose is to reduce the possibility of workers who have been severely injured or unemployed falling into poverty. The lives of their dependants and the maintenance of the income level of retirees.

Statutory benefits

Right!

Statutory benefits are a series of protection plans required by the government to provide employees with benefits, which are paid by the company and employees at a certain percentage of wage income, respectively.

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1. Mandatory social insurance is enforced through national legislation. Within the scope prescribed by law, enterprises or

The importance of statutory benefits

1. Guarantee the basic life of workers and social stability

Statutory benefits to ensure that workers can receive medical treatment, recover and improve their working ability, basic living security and employment opportunities when they are sick, disabled, dead, unemployed and old age. Social insurance in western countries was originally because some workers had no guarantee of their living and their basic living expenses could not be met. This caused social unrest and forced the government to adopt policies. Statutory welfare is committed to creating a good social environment, improving the level of employment and welfare in society, enhancing people's psychological balance and social equity, and maintaining social stability.

2. Protect the health of workers and maintain labor reproduction

The implementation of the medical insurance system and the disease insurance system can enable workers to treat illnesses in a timely manner, restore health as soon as possible, and remove obstacles to labor reproduction. The implementation of maternity insurance will enable female workers to recover their physical strength as soon as possible and participate in productive labor normally. Workers get help when they lose their ability to work, which is beneficial to maintaining the basic life of workers and their families. Workers can obtain material help such as birth, old age, illness, and disability, which can reduce the burden on families and use more resources Improve the quality of workers.

3. Make individuals actively participate in the economy and indirectly improve the competitive advantage of enterprises

Statutory benefits are in line with the spirit of humanitarianism and are conducive to enhancing the sense of belonging of personnel and retaining talents. Statutory benefits, as a cost of an enterprise, are a national policy that employers have to implement. However, it can stabilize the workforce and improve management. The special difficulties of the workers have been resolved, and the worries of safety and health of the workers have been relieved. They will actively participate in the economy and work harder, which will improve the competitive advantage of the enterprise.

4. Promote the development of production and ensure the normal operation of the economy

The insurance system can increase public expenditure and increase total social demand. For example, the payment of unemployment benefits is conducive to maintaining the basic lives of workers. Originally, members of society who had no or little consumption power increased their consumption power, which resulted in "growing" consumption demand. The increase in consumption demand can promote the supply of goods and promote economic growth. The stability of the people's hearts and the enhancement of the economic strength of enterprises will inevitably promote the growth of the national economy.

Factors affecting legal benefits

There are many factors that affect statutory benefits, including the following:

1. Government regulations and policies

Governments in many countries and regions have clearly stated what benefits organizations should enjoy. It is against the law once an organization does not provide the appropriate benefits to employees.

2. Control of wages

Due to income tax and other reasons, in order to control costs, general organizations cannot provide high wages, but they can provide good benefits, which is also a measure advocated by the government.

3. The sharp increase in medical expenses

Due to various reasons, medical expenses around the world have increased significantly in recent years. Once employees do not have the corresponding welfare support, if they are ill, especially the critically ill, it will often cause life difficulties.