According to the provisions of Article 12 of the Social Insurance Law, the employer shall pay the basic old-age insurance premium according to the proportion of the total wages of its employees stipulated by the state and record it in the basic old-age insurance pooling fund. Employees shall pay the basic old-age insurance premium in accordance with the proportion of wages stipulated by the state and record it in their personal accounts.
Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employing unit and other flexible employees who have participated in the basic old-age insurance shall pay the basic old-age insurance premium in accordance with the provisions of the state and record it in the basic old-age insurance fund and personal account respectively.
Extended data:
The relevant requirements of social insurance stipulate that:
1. Social insurance funds include basic old-age insurance funds, basic medical insurance funds, industrial injury insurance funds, loss insurance funds and maternity insurance funds. Social insurance funds shall be accounted for separately according to the types of social insurance, and the national accounting system shall be implemented.
2, the basic old-age insurance fund gradually implement the national overall planning, other social insurance funds gradually implement the provincial overall planning, the specific time and steps shall be stipulated by the State Council.
3. Social insurance funds shall not be used for illegal investment and operation, for balancing other government budgets, for building or rebuilding office space, for paying personnel expenses, business expenses and management expenses, or for other purposes in violation of laws and administrative regulations.
Hebei province labor resources social security bureau-social insurance law