What does five insurances and one housing fund mean?

What does five insurances and one fund mean? This is an issue that many netizens are concerned about. Next, the editor of PHP will bring you a detailed introduction to the meaning of five insurances and one fund. Interested netizens should follow the editor to take a look!

##Detailed introduction to the meaning of five insurances and one fund

1,

Five insurancesincludespension insurance, medical insurance, and unemployment Insurance, work-related injury insurance and maternity insurance, one fund refers to the housing provident fund paid by employees and employers according to a certain proportion.

2,

Endowment insurance is a system established to protect employees’ living needs after retirement. Employees pay a certain proportion during their working life and can receive pensions after retirement.

3.

Medical insurance is a system established to deal with employees who need medical services due to illness. After paying the medical insurance premium, employees can enjoy medical insurance benefits when needed.

4,

Unemployment insurance is a system established to deal with the economic difficulties caused by employees' unemployment. Employees can receive unemployment benefits for a certain period of time after losing their jobs.

5,

Work-related injury insurance is a system established to deal with accidents that occur to employees at work. Employees can receive a certain degree of work-related injury compensation after being injured at work.

6,

Maternity insurance is a system established to deal with the medical expenses of employees during childbirth. Employees can enjoy certain maternity allowances and medical insurance benefits after giving birth.

7,

Housing Provident Fund is a system established by the government to help employees purchase and rent housing. The source of the housing provident fund is mainly the salary, bonus, etc. of individual employees, and is paid by the employer in a certain proportion. The contribution ratio of the housing provident fund is generally 5% to 12% of the individual contribution, and the employer contribution ranges from 1 to 3 times of the individual contribution. The deposited amount will be used for housing purchase, rental and other related purposes.

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