Social Insurance and Benefits. (1) During the contract period, Party A shall pay social insurance to Party B on a monthly basis in accordance with the relevant provisions of the State and Shenzhen Society for eight years. Party B agrees that the type of insurance payment and the base of payment shall be paid according to the actual payment of Party A. Party B shall be responsible for part of the expenses incurred by Party B.
Social Insurance and Benefits. 6.1 Party A shall handle social insurance procedures for Party B by law. The expenses for handling social insurance shall be borne according to the relevant provisions of Party A’s registration area.
Social Insurance and Benefits. 3.1 The Executive shall be entitled to a pension arrangement, a Managers’ Insurance Policy (the “Policy”) and/or Pension Fund (the “Pension Fund”) as follows: The Company shall contribute 8.33% of the Salary for severance compensation (the “Severance Contribution”). In addition, the Company shall contribute 6.5% of the Salary for pension compensation (Tagmulim) towards Policy/Pension Fund. In the event that the Executive chooses Policy arrangement, the pension compensation (Tagmulim) shall include the Company’s payment for purchase of disability insurance coverage sufficient to secure 75% of the Salary; provided that the Company’s contributions solely for pension compensation (Tagmulim) shall be not less than 5% and subject to the consent of the insurance company to insure the Executive. For the avoidance of any doubt, in the event that the cost to the Company shall be more than the required contributions rates towards pension compensation (6.5% as described above) due to the cost of the disability insurance, the total cost of the Company’s contributions to pension compensation and disability insurance collectively shall not exceed 7.5% of the Salary. The Company shall deduct from the Salary the Executive’s contributions for pension compensation (Tagmulim) in an amount of 6% of the Salary towards Policy/Pension Fund. Any tax liability in connection with pension arrangement shall be borne solely by the Executive.
Social Insurance and Benefits. 14) Party A shall provide social security insurance and housing fund for Party B in accordance with the Employment Law of the People’s Republic of China, the Employment Contract Law of the People’s Republic of China and applicable national and local regulations. Each of the Parties shall pay their respective mandatory contribution amount.
Social Insurance and Benefits. 5.1 The Company shall insure the Employee under an accepted “Manager’s Insurance Scheme” and/or a comprehensive financial arrangement, at the election of the Employee, including insurance in the event of illness or loss of capacity for work (hereinafter referred to as the “Managers Insurance”) as follows: (a) the Company shall pay an amount equal to 5% of the Employee’s Salary towards the Managers Insurance for the Employee’s benefit and shall deduct 5% from the Employee’s Salary and pay such amount towards the Managers Insurance for the Employee’s benefit (the various components of the Managers Insurance shall be fixed at the discretion of the Employee); (b) the Company shall pay up to 2.5% of the Employee’s Salary towards disability insurance; and (c) the Company shall pay an amount equal to 8 1/3% of the Employee’s Salary towards a fund for severance compensation which shall be payable to the Employee upon severance, but subject to the provisions of section 7.3.
Social Insurance and Benefits. 6.1 Party A shall pay corresponding social insurance premiums for Party B in accordance with relevant national and local laws and regulations.
Social Insurance and Benefits. 3.1 The Executive shall be entitled to Manager's Insurance as follows: The Company shall make payments for the Executive’s benefit to a manager’s insurance policy (the “Policy”), which shall remain in the Company's possession and shall be managed on the Executive’s name. The Company shall pay into the Policy an aggregate amount representing 13.33% of the then provided Salary as follows: 8.33% for severance compensation and 5% for pension compensation (“Tagmulim”). In addition, the Company shall deduct 5% of the Salary and transfer that amount to the Policy. Also, the Company shall contribute monies for disability insurance in accordance with the Company's accepted policies. All payments to the Pension Scheme will be made in compliance with Section 14 of the Severance Compensation Law, 1963, and in accordance with the general approval of the Labor Minister dated June 9, 1998, promulgated under said Section 14, a copy of which is attached hereby as Exhibit A, and the terms of Section 14 and said general approval will apply to the relationship hereunder. Therefore, the ownership of the Pension Scheme will be transferred to the Employee upon the termination of employment and the Company will not be entitled to retrieve any of the funds it transferred to the Pension Scheme, other than in accordance with Section 14 and said general approval and the transfer of the Pension Scheme to the ownership of the Employee will be the full and only compensation to be paid by the Company to the Employee in such circumstances in respect of severance pay with respect to the insured Salary.
Social Insurance and Benefits. 8.1. The Company shall insure Employee under an accepted "Manager's Insurance Scheme" and/or a comprehensive financial arrangement, at the election of the Employee, which in each case shall provide insurance in the event of illness or disability (hereinafter referred to as the “Managers Insurance”).
Social Insurance and Benefits. 6.1 The Company shall participate the social insurance schemes for the Employee in accordance with relevant laws and regulations and shall pay on time social insurance premiums to the social insurance institutions according to the standards set by the local authorities.
Social Insurance and Benefits. 1. Paragraph 3 of Article 5 under this Contract shall be executed with regard to social insurance.
