PRC Social Security Scheme :: essays research papers

PRC Social Security Scheme „h Major Characteristic of PRC Social Security Scheme - Only appropriate to Chinese neighborhood workers - Local necessities may change from territory to area. „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 investment by ventures and representatives; - Involves 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 ventures all in all except if affirmed by Labor Bureau and Ministry of Finance. - For an outside speculation endeavor, the all out wages just spread Chinese neighborhood employees⠡â ¦ compensation. - Among the 20% commitment: a. start at 7% of representative 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 continuously 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 interest by undertakings and representatives; -  ¡Ã‚ §Enterprise ¡Ã‚ ¨ alludes to  ¡Ã‚ §Urban ventures and inst itutions⠡â ¨, including: a. State-claimed endeavors; b. Urban aggregate undertakings; c. Outside speculation ventures; d. Urban private ventures; and e. Other urban enteprises -  ¡Ã‚ §Employee ¡Ã‚ ¨ alludes to  ¡Ã‚ §Staff and laborers of urban undertakings and institution⠡â ¨ „h Contribution - Employer commitment - 2% of the all out wages of the endeavors; - 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 compulsory investment by ventures and representatives; -  ¡Ã‚ §Enterprises ¡Ã‚ ¨ alludes to  ¡Ã¢ §all urban enterprises⠡â ¨, including: a. State-claimed ventures; b. Urban aggregate undertakings; c. Remote speculation endeavors; d. Urban private undertakings; e. Government associations, organiza tions; f. Social associations; and g. Non-administrative non-endeavor units. -  ¡Ã‚ §Employees ¡Ã‚ ¨ alludes to  ¡Ã¢ §employees of the previously mentioned enterprises⠡â ¨ „h Contribution - Employer commitment  ¡V around 6% of the all out wages of the undertakings; - 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.