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China promulgated Social Insurance Law

08 November 2010
On 28 October 2010, China promulgated “Social Insurance Law” which will be implemented as from 1 July 2011. As the first basic law on social insurance, this Law establishes the framework structure of China’s social insurance system.
According to this newly promulgated law, social insurances include five insurances, i.e. pension, medical insurance, work injury insurance, unemployment insurance and maternity insurance. Pursuant to the new law, for each full-time employee of an enterprise, pension, medical insurance, and unemployment insurance shall be contributed by both employer and employee respectively, while work injury insurance and maternity insurance shall be contributed solely by employer.
According to this new law, a newly established enterprise is obliged to carry out social insurance registration with local social insurance department within 30 days from its establishment; while for each of its new employees, an enterprise as employer is obliged to carry out social insurance registration for that employee within 30 days from commencement of the employment. Moreover, when an employment is expired or terminated, the employer is obliged to notify the relevant social insurance department of the same.
Currently it may be quite difficult for an employee to transfer his employment from one city/province to another due to existing local barriers on transferring his social insurance account across cities/provinces.?To dissolve such barriers, the new law provides that if an employee is to transfer his employment to another place, his pension and medical insurance account will be transferred accordingly, and period of insurance contribution for such employee will be calculated accumulatively. Nevertheless, the new law does not contain sufficient detailed stipulations in this respect, and there are still considerable uncertain issues to be clarified. Interested ones may continue to pay attention to the lawmaking developments on this subject.

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Disclaimer
Any legal information contained in this newsletter is general in nature and laws and regulations are changing from time to time and compliance will always depend upon the particular circumstances. We have not attempted to give exhaustive descriptions of law or to give a legal opinion on specific legal issues. You should not rely on this newsletter as a legal advice for any particular purpose.

                                           

 

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