PRC Social Security Scheme

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1997, to be gradually increased to 8% - Contribution goes to Basic Pension Individual Account National Requirement ¡V Unemployment Insurance „h ¡§Unemployment Insurance Regulation ¡¨ issued by State Council on January 22, 1999. „h Mandatory participants - Requires mandatory participation by enterprises and employees; - ¡§Enterprise¡¨ refers to ¡§Urban enterprises and institutions¡¨, including: a. State-owned enterprises; b. Urban collective enterprises; c. Foreign investment enterprises; d. Urban private enterprises; and e. Other urban enteprises - ¡§Employee¡¨ refers to ¡§Staff and workers of urban enterprises and institution¡¨ „h Contribution - Employer contribution - 2% of the total wages of the enterprises; - Employee contribution - 1% of the employee¡¦s wage National Requirement ¡V Medical Insurance „h ¡§Decisions of the State Council Concerning the Establishment of a Basic Medical Insurance System for Urban Staff and Workers ¡¨ issued by State Council „h Mandatory participants ...

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