Legal basis: Article 72 of the Labor Law of People's Republic of China (PRC). Employers and workers must participate in social insurance and pay social insurance premiums according to law.
Article 38 of the Labor Contract Law of People's Republic of China (PRC) * * * If the employer fails to pay the social insurance premium for the employee according to law, the employee may terminate the labor contract.
People's Republic of China (PRC) social insurance law
Tenth employees should participate in the basic old-age insurance, and employers and employees should pay the basic old-age insurance premium.
Individual industrial and commercial households without employees, part-time employees who have not participated in the basic old-age insurance in the employer and other flexible employees can participate in the basic old-age insurance, and individuals pay the basic old-age insurance premium.
The measures for the endowment insurance of civil servants and staff managed by reference to the Civil Service Law shall be formulated by the State Council.
Article 12 The employing unit shall pay the basic old-age insurance premium according to the proportion of the total wages of 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.
Thirteenth employees of state-owned enterprises and institutions to participate in the basic old-age insurance, the basic old-age insurance premium should be paid by the government during the payment period.
When the basic old-age insurance fund is insufficient to pay, the government gives subsidies.
Article 14 Individual accounts shall not be withdrawn in advance, and the bookkeeping interest rate shall not be lower than the bank time deposit interest rate, and interest tax shall be exempted. If an individual dies, the balance of the individual account can be inherited.