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Legal Briefing
The implications of the new Social Insurance Law for employers and employees in China
Practice Area: Contract of Employment and Statutory rights
Sector: Business services
Jurisdiction: China
Published: 24 January 2012
Law Firm: Eversheds
Overview
The PRC Social Insurance Law came into effect in China on 1 July 2011 and introduced a new regime to regulate the five social insurance schemes (basic pension insurance, basic medical insurance, work-related injury insurance, unemployment insurance and maternity insurance). Previously, these provisions were divided between various rules and regulations at national and local level.
The new law establishes a social security system with extensive coverage which is transferable for cross-region employment. It regulates and clarifies the rights and obligations of employers and employees. It also introduces new provisions including changes to the way that premiums are collected and funds are managed and harsher penalties for non-compliance.
This briefing from Eversheds provides an overview on how the changes will affect employers and individuals including expatriate staff, how the mandatory collection measures operate and lastly, the penalties for employers who fail to comply.
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