The social security fund, also known as the National Social Security Fund, refers to the social security fund formed by the reduction of state-owned shares and equity assets under the responsibility of the National Social Security Fund Council, funds allocated by the central government and other financing methods approved by the State Council and their income.
Social insurance fund refers to a special fund for paying social insurance benefits, which the state requires the whole society to establish through legislation in order to ensure a reliable financial guarantee for social insurance. Assets purchased with such funds and their value-added parts also belong to the scope of social insurance funds. Social insurance fund is a fund raised by the state for holding social insurance undertakings, which is used to pay insurance benefits and allowances enjoyed by workers due to temporary or permanent loss of working ability or job opportunities. The social insurance fund shall determine the source of funds according to the types of insurance and gradually implement social pooling. Employers and workers must participate in social insurance and pay social insurance premiums according to law.
The sources of social insurance funds in China can be roughly divided into four aspects:
1, the insurance premium paid by the insured according to a certain proportion of the average salary of employees whose salary income cannot be determined;
2. The insurance premium paid by the insured unit according to a certain proportion of the total wages of the employees of the unit;
3, the government's financial subsidies to social insurance funds;
4. Bank interest or return on investment from social insurance funds and social donations.
Social insurance funds mainly include five categories, namely, basic old-age insurance funds, basic medical insurance funds, industrial injury insurance funds, unemployment insurance funds and maternity insurance funds. In addition to the basic medical insurance fund and maternity insurance fund combined accounting, other social insurance funds are accounted for separately according to social insurance types. Social insurance funds implement a unified accounting system throughout the country. Social insurance funds shall be earmarked for special purposes, and no organization or individual may occupy or misappropriate them in any form.
legal ground
People's Republic of China (PRC) social insurance law
Article 81 The administrative departments of social insurance companies and other relevant administrative departments, social insurance agencies, social insurance premium collection agencies and their staff shall keep the information of employers and individuals confidential according to law and shall not disclose it in any form.
Please click to enter the picture description (maximum 18 words).