What does five insurances and one housing fund include?

The "five insurances and one housing fund" refers to the mandatory social insurance and housing fund system in China. It includes five types of insurance: pension insurance, medical insurance, unemployment insurance, work-related injury insurance, and maternity insurance. These insurances are aimed at providing financial protection and support to employees in various aspects of their lives, such as retirement, healthcare, job loss, workplace injuries, and maternity leave. Additionally, the housing fund, also known as the housing provident fund, is a government-backed savings account that aims to help employees save for housing-related expenses, such as down payments, mortgage payments, and home improvements. Employers and employees contribute a certain percentage of the employee's salary to the housing fund on a monthly basis. Overall, the "five insurances and one housing fund" system is an important part of the social security and welfare system in China, providing financial security and support to employees in both their working and personal lives. It is a crucial aspect of financial planning and management for both employers and employees in the country.