It turns out that when developers hire construction units, they need to pay endowment insurance to the construction personnel of the construction units in proportion. However, due to the unequal competition in the construction industry, many construction units took this as a bargaining chip and did not ask Party A for this pension to win the construction right, so the Labor Insurance Fund Office came into being.

The return of your labor insurance fund is mainly calculated according to the quantity of your work in that year, so the construction unit should report to the local labor insurance fund in time for new work. 25% is used as the office expenses of the labor insurance fund, and part of it is used as the funds allocated to the enterprise for the second time at the end of the year and the risk fund of the enterprise.

Withholding ~ Withholding means to help you get the old-age insurance money directly from the developer ~ Withholding means to help you pay the old-age insurance money directly from the social security without going through your company's accounts.