PRC Social Security Scheme :: essays research papers

PRC Social Security Scheme „h Major Characteristic of PRC Social Security Scheme - Only appropriate to Chinese neighborhood representatives - Local necessities may fluctuate from region to territory. „h Structure of Social Security Scheme - Pension - Unemployment Insurance - Medical Insurance - Housing National Requirement - Pension „h  ¡Ã‚ §Decisions of the State Council Concerning the Establishment of a Unified System of Basic Old-age Insurance for Staff and Workers of Enterprises ¡Ã‚ ¨(July 16, 1997) „h Structure of the Basic Pension Scheme - Requires compulsory interest by undertakings and representatives; - Contains 2 components: a. Essential Pension Pooling Account b. Essential Pension Individual Account „h Enterprise Contribution - Maximum commitment of 20% of the absolute wages of the endeavors by and large except if affirmed by Labor Bureau and Ministry of Finance. - For a remote venture endeavor, the all out wages just spread Chinese nearby employees⠡â ¦ compensation. - Among the 20% commitment: a. start at 7% of worker pay in 1997, to be step by step diminished to 3%, for commitment into the Basic Pension Individual Account b. 13% to 17% goes to Basic Pension Pooling Account „h Employee Contribution - Start at 4% of worker compensation in 1997, to be step by step expanded to 8% - Contribution goes to Basic Pension Individual Account National Requirement  ¡V Unemployment Insurance „h  ¡Ã‚ §Unemployment Insurance Regulation  ¡Ã¢ ¨ gave by State Council on January 22, 1999. „h Mandatory members - Requires obligatory cooperation by undertakings and workers; -  ¡Ã‚ §Enterprise ¡Ã‚ ¨ alludes to  ¡Ã‚ §Urban ventures and institutions⠡â ¨, incl uding: a. State-claimed endeavors; b. Urban aggregate undertakings; c. Remote speculation undertakings; d. Urban private undertakings; and e. Other urban enteprises -  ¡Ã‚ §Employee ¡Ã‚ ¨ alludes to  ¡Ã‚ §Staff and laborers of urban ventures and institution⠡â ¨ „h Contribution - Employer commitment - 2% of the all out wages of the undertakings; - Employee commitment - 1% of the employee⠡â ¦s wage National Requirement  ¡V Medical Insurance „h  ¡Ã‚ §Decisions of the State Council Concerning the Establishment of a Basic Medical Insurance System for Urban Staff and Workers  ¡Ã¢ ¨ gave by State Council „h Mandatory members - Requires obligatory support by endeavors and representatives; -  ¡Ã‚ §Enterprises ¡Ã‚ ¨ alludes to  ¡Ã¢ §all urban enterprises⠡â ¨, including: a. State-claimed undertakings; b. Urban aggregate ventures; c. Remote speculation ventures; d. Urban private endeavors; e. Government associations, establishments; f. Social asso ciations; and g. Non-legislative non-endeavor units. -  ¡Ã‚ §Employees ¡Ã‚ ¨ alludes to  ¡Ã¢ §employees of the previously mentioned enterprises⠡â ¨ „h Contribution - Employer commitment  ¡V roughly 6% of the complete wages of the endeavors; - Employee commitment - 2% of the employee⠡â ¦s wage National Requirement  ¡V Housing „h  ¡Ã‚ §Administrative Regulation on Housing  ¡Ã¢ ¨ gave by the State Council on April 3, 1999.