Second: Five insurances and one gold: Five insurances are endowment insurance and medical insurance in social insurance. Unemployment insurance, industrial injury insurance, maternity insurance, and one gold refers to the housing accumulation fund, all of which are enforced by the state. All enterprises must pay five insurances and one gold for their employees in accordance with state regulations.
The function of endowment insurance is to collect retirement expenses for employees when they reach retirement age. Medical insurance is to provide insurance for some medical expenses when employees are sick. Unemployment insurance means that once an employee is unemployed, he can receive unemployment living expenses for up to two years. Work-related injury insurance means that once an employee has a work-related injury, the work-related injury insurance fund will bear the expenses and compensation for the work-related injury. Maternity insurance is to give employees certain subsidies and maternity expenses. Housing accumulation fund is the cost paid by enterprises and employees in the same proportion. All account funds