5.Basic five rules in tax & accounting in running corporation.（5/5）
Chapter 5: Social security system
1. Japan has four different kinds of insurance system which companies are legally obliged to take part in all workers that meet certain criteria are covered by the insurance.
(1) Workers' Accident Compensation Insurance This covers any illness or accident incurred by workers as a result of work or while commuting to or from work.
(2) Employment Insurance This provides for workers that become unemployed and helps to maintain stable employment such as by providing financial aid and subsidies.
(3) Health Insurance and Nursing Care Insurance These cover medical and nursing care expenses incurred by workers.
(4) Employees' Pension Insurance This provides for benefits to workers in their old age, or in the case of death or disability.
2. A company must enter these insurance systems when first incorporating or hiring staff/workers by submitting labor and social insurance notification forms to the relevant authorities.
3. Every month, the company is responsible for paying insurance premiums by deducting the portion of the premiums payable by employees/workers from their wages, and paying these together with the portion of the premiums payable by the company to Japan Pension Service.
4.Employment insurance and Workers' Accident Compensation Insurance are paid once a year to the Labor Bureau. Although Employment insurance contains an employee portion, Workers' Accident Compensation Insurance is paid for entirely by the employer.
NAKAJIMA TAX & ACCOUNTING OFFICE provides one-stop “Accounting”, “Taxes”, and “Payroll” outsourcing service for foreign companies starting up business in Japan and foreign founders starting up business in Japan.
NAKAJIMA TAX & ACCOUNTING OFFICE also assists to prepare year-end Financial Statements closing and e-filing Corporate Tax Return and Consumption Tax Return.
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