What do you mean by tax and social security deduction?

Taxation and social security expenditure refer to social security tax, which can also be called "social security tax" and "payroll tax". The object of this tax is wages and salaries, which is a special tax. The tax is mainly used for specific social insurance projects. People who pay social security taxes are generally employers and employees, and both parties will bear the burden. According to the relevant provisions of China's "Provisional Regulations on Wage Payment", some employers have this item of after-tax deduction on their payrolls. After-tax deduction generally includes but is not limited to: taxes, training fees, clothing fees, fines and vacations. At the same time, the payroll should include job number, employee name, basic salary, post salary, welfare fund, housing fund, wages payable, personal income tax and actual salary. At the same time, the employer can also entrust the bank to pay wages.

Refers to tax and expense tax. Taxation is a form of compulsory and free participation in the distribution of social products by the state in order to meet the needs of society according to its social functions and legal provisions. Taxes and fees refer to a kind of fees charged by state organs for providing certain labor services or services to relevant parties in accordance with regulations.

Social security, also known as social insurance, refers to a social and economic system that provides income or compensation for people who are unable to work, temporarily unemployed or suffer losses due to health reasons. The main items of social insurance include endowment insurance, medical insurance, unemployment insurance, industrial injury insurance and maternity insurance.

The social insurance plan is organized by the government, forcing a certain group to use part of its income as social insurance tax (fee) to form a social insurance fund. Under certain conditions, the insured can get fixed income or loss compensation from the fund. It is a redistribution system, and its goal is to ensure the reproduction of material and labor and social stability.

legal ground

Interim Regulations of People's Republic of China (PRC) Municipality on Wage Payment

Article 6 The employing unit shall pay wages to the workers themselves. If a laborer is unable to receive wages for some reason, his relatives or others may entrust him to receive them.

The employer may entrust the bank to pay wages.

The employer must record in writing the amount and time of employees' salary collection, the name and signature of the recipient, and keep it for more than two years for future reference. When paying wages, the employer shall provide the laborer with a list of his personal wages.