By: You Zhang E-mail: you_zhang@hotmail.com PRC Social Security Scheme „h Major Characteristic of PRC Social Security Scheme - Only applicable to Chinese local employees - Local requirements may vary from locality to locality. „h Structure of Social Security Scheme - Pension - Unemployment Insurance - Medical Insurance - Housing National Requirement - Pension „h ‘§Decisions of the State Council Concerning the Establishment of a Unified System of Basic Old-age Insurance for Staff and Workers of Enterprises‘¨(July 16, 1997) „h Structure of the Basic Pension Scheme - Requires mandatory participation by enterprises and employees; - Comprises 2 elements: a. Basic Pension Pooling Account b. Basic Pension Individual Account „h Enterprise Contribution - Maximum contribution of 20% of the total wages of the enterprises in general unless approved by Labour Bureau and Ministry....

Number Of Pages: 3

Number Of Words: 563

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