Five insurances and one gold are the general names of several kinds of security benefits given to workers by employers. In order to support the elderly, workers can receive pensions when they reach the legal retirement age; Employee's illness is treated as medical reimbursement; After the workers are unemployed, they receive living expenses; Maternity of employees as maternity reimbursement and related treatment; Workers with work-related injuries pay medical expenses or make relevant compensation for work-related injuries.

First, the meaning of five insurances and one gold

Five insurances and one gold refer to several kinds of security benefits provided to workers by employers, including endowment insurance, medical insurance, unemployment insurance, work injury insurance, maternity insurance and housing accumulation fund.

1, paying five insurances and one gold can reduce taxes.

It is understood that paying social security and provident fund is tax-free. Personal income tax is not deducted not only when paying, but also when receiving benefits, and interest tax is not deducted from special accounts. If it is paid to me as a salary, personal income tax will be deducted. If it is deposited in the bank, there will be interest tax.

It should be noted here that "five insurances and one fund" usually refers to endowment insurance, medical insurance, unemployment insurance, work injury insurance, maternity insurance and housing accumulation fund. Among them, industrial injury insurance and maternity insurance are entirely borne by the unit, so these two insurances do not involve personal income tax deduction. Endowment insurance, medical insurance, unemployment insurance and housing accumulation fund are jointly borne by units and individuals, and the part paid by individuals is generally withheld and remitted from employees' wages by units on a monthly basis.

According to the current regulations, the basic old-age insurance premium, basic medical insurance premium, unemployment insurance premium and housing accumulation fund paid (deposited) by individuals according to the prescribed proportion are allowed to be deducted from the personal taxable income. If the payment exceeds the prescribed proportion and standard, the excess will be incorporated into the personal current salary income and personal income tax will be levied.

2. Five insurances and one gold are not paid for nothing, and each insurance has its own function.

According to experts, in fact, most social security is not paid for free, and in the end it is all your own. For individuals, apart from a little trouble in formalities, there is no economic loss, not only the money paid can be returned, but also more income can be obtained.

Second, the role of five insurances and one gold

(1) Benefits of paying endowment insurance

Old-age insurance, the full name of social basic old-age insurance, is a social insurance system established by the state and society in accordance with certain laws and regulations to solve the basic life of workers who reach the working age limit stipulated by the state and terminate their labor obligations or quit their jobs because of old age. It is an important part of the social security system and one of the five most important social insurances. The purpose of endowment insurance is to protect the basic needs of the elderly and provide them with a stable and reliable source of life.

Therefore, the advantage of paying endowment insurance is that it can reach the minimum age, and after reaching the statutory retirement age, you can apply for retirement and receive a monthly pension. Pension can be received until death. With the improvement of social living standards, it will only increase rather than decrease, and the amount of capital increase will be adjusted every year, which can ensure the stability and reliability of old age life.

(2) Benefits of participating in medical insurance

The biggest advantage of participating in basic medical insurance is to implement social overall planning, be economical and practical, enhance the ability to resist risks, and ensure the basic medical needs of employees.

The second advantage of participating in basic medical insurance is to allow the insured to choose designated medical institutions and retail pharmacies independently.

The third benefit of participating in the basic medical insurance is the establishment of a personal medical account owned by individuals. Personal account funds can be freely controlled within the prescribed scope, saving certain funds for the insured during the time when medical expenses do not occur, and can be inherited according to law. In addition, if the on-the-job payment reaches the minimum age, you can enjoy higher medical insurance benefits than on-the-job reimbursement without continuing to pay basic medical expenses after retirement.

The fourth benefit of participating in basic medical insurance is the implementation of socialized network management. On the one hand, strengthen the monitoring of medical expenses to make the medical process more reasonable. On the other hand, the medical expenses incurred in the process of medical treatment are paid by individuals, and the rest are settled by medical insurance agencies and medical institutions through the Internet, which reduces the burden on the insured and provides convenient and fast services.

(3) the benefits of unemployment insurance

Unemployment insurance refers to a system that is enforced by the state through legislation and set up by the society to provide material help to workers who have temporarily interrupted their sources of livelihood because of unemployment, so as to ensure the basic livelihood of unemployed people during unemployment and promote their re-employment. It is an important part of the social security system and one of the main items of social insurance. Unemployed persons in urban enterprises and institutions enjoy unemployment insurance benefits in accordance with the Regulations on Unemployment Insurance promulgated by the State Council.

It is understood that paying unemployment insurance can get unemployment insurance benefits and other subsidies when you are unemployed. Unemployment insurance is a kind of policy insurance, which is usually not available in commercial insurance companies.

(4) The role and significance of maternity insurance.

Maternity insurance is one of the five social insurance systems in China. The important role of social security lies in "giving consideration to fairness" and implementing secondary distribution so that more members of society can enjoy the fruits of economic and social development. The function of establishing maternity insurance system is to ensure that female workers enjoy protection during childbirth and lactation, so as not to stop working and fall into life difficulties because of childbirth. The implementation of maternity insurance can fundamentally solve women's medical expenses and living allowances during maternity leave, and safeguard women's legitimate rights and interests from the system. The practice of maternity insurance system reform shows that the implementation of social pooling of maternity insurance under the new historical conditions has played a positive role in protecting women's legitimate rights and interests, improving women's employment environment and balancing the burden on enterprises.

Experts said that paying maternity insurance can reimburse the expenses of prenatal examination, family planning operation and delivery operation, and the maternity insurance premium is entirely borne by the unit.

(5) Benefits of industrial injury insurance

Industrial injury insurance is a social insurance system in which workers are injured, disabled or killed at work and temporarily or permanently lose their ability to work, and the society gives material help. All work-related injury insurance premiums are paid by the employer, and individual employees do not need to pay.

At present, more and more people feel the benefits of industrial injury insurance, and actively urge enterprises to participate in industrial injury insurance to "escort" their own labor safety. According to reports, after participating in work-related injury insurance, enterprises can effectively resist risks, and workers with work-related injuries can get medical treatment, work-related injury rehabilitation treatment and economic compensation. The employer shall participate in work-related injury insurance. When an employee suffers from work-related injury, the unit shall bear all the compensation expenses according to law. The compensation standard is the same as that of the insured employee, except that the work-related injury compensation is paid by the unit, not by the work-related injury insurance fund.

Therefore, the advantage of paying industrial injury insurance is that you can get compensation when you encounter industrial accidents or occupational diseases. Not afraid of 10 thousand, just afraid of one thousand, especially some major accidents, and don't worry about small companies defaulting on work-related injury insurance benefits.