1. What are “five insurances and one housing fund”?

"Five insurances and one fund" is the abbreviation for the five types of social insurance stipulated in the "Social Insurance Law" and the housing provident fund stipulated in the "Housing Provident Fund Management Regulations". Specifically, the "five insurances" refer to basic pension insurance, basic medical care

Insurance, unemployment insurance, work-related injury insurance and maternity insurance are what we usually call "social security"; and "one fund" refers to the housing provident fund.

At present, the housing provident fund has not yet achieved full coverage. According to regulations, state agencies, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, public institutions, private non-enterprise units, and social groups should pay housing provident funds for their employees.

Compared with the entities that pay social insurance premiums, it does not cover individual economic organizations such as individual industrial and commercial households.

2. What benefits can you enjoy by paying "five insurances and one housing fund"?

01 Benefits that can be enjoyed by paying social insurance premiums. Simply put, workers who participate in basic pension insurance and have paid cumulative contributions for fifteen years when they reach the legal retirement age can receive pensions on a monthly basis.

In the event of death due to illness or non-work-related causes, the survivors may receive funeral benefits and pensions from the pension insurance fund.

Those who have completely lost their ability to work due to illness or non-work-related disability before reaching the statutory retirement age can also receive disability benefits; workers who have paid basic medical insurance can enjoy medical insurance reimbursement when they are sick and hospitalized; workers who have paid unemployment insurance

Workers who meet certain unemployment conditions can receive unemployment insurance benefits from the unemployment insurance fund; workers who have paid work-related injury insurance and are injured in accidents or suffer from occupational diseases due to work and are recognized as work-related injuries can enjoy disability benefits.

Subsidies, one-time disability benefits, one-time medical benefits and other work-related injury insurance benefits; workers who pay maternity insurance premiums can enjoy maternity insurance benefits including maternity medical expenses and maternity allowances.

02 Benefits available for paying provident fund Employees who pay housing provident fund can withdraw and use the balance in the housing provident fund account when purchasing, constructing, renovating, or overhauling their own homes. They can also apply for a housing provident fund loan from the housing provident fund management center and enjoy

These are low-interest loans with more favorable interest rates than commercial loans. Those with housing loans can also use their provident funds to pay off their housing loans.

In addition, when employees meet certain conditions, they can also apply to withdraw the balance in their housing provident fund account to pay rent, special property maintenance funds, property service fees and other expenses.

3. Who pays for the “five insurances and one housing fund”?

1. The basic pension insurance, basic medical insurance and unemployment insurance among the "five insurances" shall be paid jointly by the employer and the employee in proportion to the payment. The individual expenses shall be withheld and paid by the employer from the employee's salary.

; Work-related injury insurance and maternity insurance are fully paid by the employer, and workers do not need to pay.

2. The housing provident fund shall be paid and deposited jointly by individual employees and the employer, and the part contributed by the individual shall be withheld and paid by the employer from the employee's wages.