With reference to Article 12 of the Social Insurance Law of People's Republic of China (PRC), the employing unit 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 premiums in accordance with state regulations and record them in the basic old-age insurance pooling fund and individual accounts respectively.
Extended data
Referring to Article 16 of the Provisional Regulations on the Collection and Payment of Social Insurance Fees, the payer must pay social insurance fees within 5 working days from the date of receiving the payment notice from the institution or local tax department that collects social insurance fees. The social insurance premium that the payer should pay shall be withheld and remitted from his own salary by the unit where he works, and the relevant units and individuals shall not refuse.
Referring to Article 17 of the Provisional Regulations on the Collection and Payment of Social Insurance Fees, the payer may pay social insurance fees in one of the following ways:
(a) the payer pays to the bank;
(2) The payer shall pay the social insurance premium to the institution or local tax department;
(3) The payer's bank directly transfers money from the payer's account according to the collection voucher or tax bill issued by the institution or local tax department that collects social insurance premiums; ?
(four) other ways agreed by the payment unit and the institution or local tax department that collects social insurance premiums.
With reference to Article 21 of the Provisional Regulations on the Collection and Payment of Social Insurance Fees, the institution collecting social insurance fees shall, on a monthly basis, include the collected social insurance fees (including the fees paid by individuals) in various insurance funds according to the payer's share in the social security funds, establish personal accounts for basic old-age insurance and medical insurance in accordance with regulations, and inform the institution responsible for social insurance on a monthly basis.
The local tax authorities shall timely provide the payment information of foreign-invested enterprises, urban private enterprises and their employees to the institutions that collect social insurance premiums.
Hanzhong Municipal People's Government-People's Republic of China (PRC) Social Insurance Law
Yueyang Municipal People's Government-Interim Regulations on the Collection and Payment of Social Insurance Fees