Indian firms jolted by China's social security plan

[Yusuf]

Indian firms operating in China are shaken by Beijing's decision to impose social security obligations for foreign staff, which will push up the wage bill by over 40%.

Indian firms jolted by China's social security plan - The Times of India

 

[Armand2REP]

My old company is going to fire every foreigner at that place. I knew it was a good time to get out.

 

[amoy]

The plan has several components with employers and employees expected to contribute towards pension and insurance for medical, unemployment, maternity and work related injury.

For local staff, on top of them there's a "housing fund" to which employees contribute 12% (varying subj to location/company) of salary, and employers put up another 12%

 

[no smoking]

My old company is going to fire every foreigner at that place. I knew it was a good time to get out.

so, your old company didn't provide any social security cover for its foreign staff? Wait a minute, did you realy work in china?

 

[Armand2REP]

No it didn't. It was never required by the company to do so until now. You never known a foreigner in China? You really live there?