What Is Participating Insurance?

"Five insurances and one fund" refers to the collective name of several guarantees given to employees by employers, including endowment insurance, medical insurance, unemployment insurance, work injury insurance and maternity insurance, and housing provident fund.

"Five insurances and one fund" refers to the collective name of several guarantee treatments given to employees by employers, including

The role of the five insurances and one fund has become more and more important, which has become the basic condition for many enterprises to recruit talents.

In reality, the more developed the region, the more employees pay attention to the five insurances and one fund. Especially in the first-tier cities, because it is linked to the eligibility to buy a house and a car, five insurances and one fund have become an important standard for job hunting. Specifically, the role of the five insurances and one fund is shown in the following table:

Many startups, in order to save costs, pay less, or do not even pay five insurance and one fund for employees, which will face some risks:

According to the "Social Insurance Law" and "Regulations on the Management of Housing Provident Fund", enterprises that fail to pay their social insurance in full and on time will be subject to a late payment of five ten thousandths, or even a fine of more than one to three times the amount owed; Failure to pay the provident fund within the time limit will result in a fine of 10,000 to 50,000 yuan.

In reality, if employees file an arbitration or lawsuit because the company has not paid their social security provident fund, the loser is basically the company.

Five insurances and one fund, the unit needs to bear a part, this part is directly deducted from the unit's bank account, the employee also needs to bear a part, deducted from the employee's salary. Because it varies from place to place, we take Beijing as an example, and hire a product manager with a monthly salary of 10,000 yuan. The monthly social security and provident fund costs to be borne are:

(1) Account opening for social security and provident fund

The enterprise needs to go to the Social Security Bureau and the Provident Fund Center to open an account for social security and provident funds within 30 days from the date of establishment. After the social security account is opened, you will get the "Social Security Registration Certificate." After the CPF account is opened, you will get the unit's CPF registration number.

(2) Increase or decrease

Every month, an organization must add new employees to the company's five insurance and one gold account, and delete employees who have left the company from the account. The social security and provident fund accounts are two separate accounts, and the operations of adding or removing employees must be performed in both accounts.

(3) Confirmation of payment base

Units need to report the correct bases of five insurances and one payment for employees every month to ensure the normal payment of five insurances and one payment. The payment base for the five insurances and one fund is based on the average salary of the employee in the previous year or the first month of employment.

(4) Five insurance and one gold payment

If the three parties of the enterprise, the bank and the social security / provincial fund management institution have signed a bank payment agreement, the five insurance and one fund fee will be directly deducted from the corporate bank account at a fixed monthly time. Of course, companies can also choose to go to the five insurance and one gold management agency to pay on-site by cash or check.

1. Fertility and medical insurance trials may be combined with benefits in some regions

In February 2017, the "Plan for Implementing the Combined Implementation of Fertility Insurance and Basic Medical Insurance for Employees" issued by the General Office of the State Council was announced and will be released in Handan City, Hebei Province, Jinzhong City, Shanxi Province, Shenyang City, Liaoning Province, Taizhou City, Jiangsu Province, and Anhui Province. Hefei City, Shandong Province, Weihai City, Shandong Province, Zhengzhou City, Henan Province, Yueyang City, Hunan Province, Zhuhai City, Guangdong Province, Chongqing City, Neijiang City, Sichuan Province, and Kunming City, Yunnan Province launched two pilot pilots for insurance consolidation.

The trial will start before the end of June 2017, with a trial period of about one year. Some localities have introduced specific implementation plans for combined implementation of fertility and medical insurance.

2. 102 functions of National Social Security Card

According to the relevant information from the Ministry of Human Resources and Social Security, all 102 functions of the social security card will be fully opened at the end of 2017. Social security cards can directly handle individual human and social affairs across businesses and regions, and open integration applications to various government public service fields, which basically achieves National Social Security Card.

By then, the social security card will not only see a doctor for medical treatment, swipe a card to buy medicine, but also receive various social security benefits such as pensions, unemployment benefits, etc., which can be used as a bank card.

Moreover, in some places, the third-generation social security card will be piloted in 2017 to increase the contactless non-contact function, and the application scenarios will be more extensive. It can be said that in the future, he will not be afraid to travel around China with a social security card in his hand.

3. The CPF off-site transfer platform will go online before the end of June to realize "accounts go with people, money goes with accounts"

It is reported that the Ministry of Housing and Urban-Rural Development is accelerating the construction of the National Housing Provident Fund's off-site transfer and connection platform. It will go online before the end of June to achieve "accounts go with people, money goes with accounts". At the same time, we will vigorously promote off-site loan services to meet the needs for the use of funds for depositing employees to purchase housing across regions.

After the platform is opened, the housing provident fund management centers across the country can uniformly handle the transfer of housing provident funds for off-provincial employees on the platform. In the future, the employment of employees across provinces and municipalities to handle the transfer of housing provident funds to other places will not be necessary to travel between the two places, as long as they can complete the transfer.

1. What is social insurance?

Social insurance is enforced by the state through legislation to ensure that workers are given basic living security in the event of old age, unemployment, illness, work injury, and other incapacity. Including basic

In October 2018, the "five insurances and one fund" ushered in a major change, and a "blacklist" system will be established. Departments in charge of housing and urban-rural construction at or above the county level shall include credit subjects that have been included in the list of key concerns and the list of joint disciplinary targets for dishonesty into the key supervision targets, and restrict them in terms of administrative permits, bidding, and preferential policies. ^[7]

The "pain" of reducing government power in exchange for the "coolness" of the masses ^[8]

On March 17, 2016, Premier Li Keqiang of the State Council emphasized that the five insurances and one fund has room for appropriate adjustments, and local governments can appropriately reduce the deposit ratio according to the actual situation, and settle cross-provincial direct medical settlements within two years. ^[8]

In August 2018, at the 6th Straits Youth Festival, Fujian Fuzhou issued the "Implementation Opinions on the Implementation of" Several Measures on Promoting Cross-Strait Economic and Cultural Exchanges and Cooperation "", using Taiwan compatriots' permits in Fong and Taiwan to enjoy the same city treatment as Fuzhou citizens. ^[9]