The five insurances are the social insurance that we talk about everyday. Many employees must pay social insurance every month, so it is necessary to know more about the five insurances. What are the five insurances? How much is the minimum standard of the five insurances? Let's take you to know.
What are the five social insurance
"Five insurance" refers to five types of insurance, including endowment insurance, medical insurance, unemployment insurance, work-related injury insurance and maternity insurance; "one fund" refers to housing accumulation fund.
China's "labor law" stipulates that the state develops social insurance, establishes a social insurance system, and sets up insurance funds, so that workers can get help and compensation in the case of old age, illness, work-related injury, unemployment, childbirth, etc.
Social insurance funds shall determine the sources of funds according to the types of insurance, and gradually implement social overall planning. Employers and workers must participate in social insurance and pay social insurance premium according to law. Workers shall enjoy social insurance benefits in accordance with the law under the following circumstances.
How much is the minimum standard of five insurances in 2019
According to the regulations on the administration of social insurance premium declaration and payment, the minimum payment ratio of five insurances and one fund is as follows:
1. Endowment insurance: the proportion of unit payment is 20%, and the proportion of individual payment is 8%;
2. Medical insurance: the proportion of unit payment is 9% + 1%, and the proportion of individual payment is 2% + 3.
3. Unemployment insurance: 1% paid by unit and 0.2% paid by individual (Note: agricultural household registration is not paid);
4. Maternity insurance: the unit pays 0.8% and the individual does not pay; work injury insurance: the unit pays 0.8% and the individual does not pay;
5. Provident Fund: the proportion of unit payment is 12%, and the proportion of individual payment is 12%.
According to relevant regulations, the company has the obligation to pay the five insurances for employees after they are officially employed. In case of a company that refuses to pay social security to employees, employees can report and complain to the local labor department. The employee may also resign and claim compensation.