A Study On The Effect Of Enterprise "Five Social Insurance And One Housing Fund" Burden On Employment

Private economy occupies an important position in China’s national economy.In brief,the private economy pays more than 50 percent of the tax revenue,contributes more than 60 percent of the GDP,researches and develops more than 70 percent of the scientific and technological innovation achievements,provides more than 80 percent of the urban labor force employment,and owns more than 90 percent of the enterprises.However,in recent years,the pressure of tax becomes more and more prominent,which hinders the development of China’s private economy.According to the data released by the world bank,we can clearly understand that from 2014 to the end of 2018,the average total tax rate of Chinese enterprises in the five years was as high as67.04%,among which the ratio of "five social insurance and one housing fund" to profits was as high as 48.08%,accounting for 71.72% of the total tax rate.The total corporate tax rate will reach the level of 59.20 percent in 2019,and the ratio of "five social insurance and one housing fund" to profits is as high as 46.20 percent,accounting for 78.04 percent of the total tax rate.To sum up,"five social insurance and one housing fund" is the main tax burden of enterprises.Compared with other countries in the world,the labor tax rate of Chinese enterprises has far exceeded the world average level,nearly 31 percentage points higher than the latter,making China the second country with the labor tax rate.This paper takes private listed companies as the research object for analysis,demonstrates the impact of "five social insurance and one housing fund" burden on employment of private listed companies with empirical analysis,and puts forward corresponding Suggestions on tax reduction and fee reduction for reference in research and decision-making.In this paper,the data of private listed companies from 2014 to 2018 are selected,and the "five social insurance and one housing fund" burden of private listed companies is counted and calculated by combining quantitative and qualitative analysis methods.Finally,the conclusion of higher labor tax rate is reached.According to the market type,the "five social insurance and one housing fund" burden of private listed companies generally presents a trend of gradual increase of the main board,gem board and small and medium-sized board.According to the economic region,the burden level of "five social insurance and one housing fund" of private listed companies is decreasing in the eastern region,central region and western region.The higher "five social insurance and one housing fund" burden level of enterprises will have a series of economic impacts on enterprise profits and employee wages,etc.Finally,the empirical analysis proves that the "five social insurance and one housing fund" burden of enterprises has a negative impact on labor employment through the "double conduction" mechanism.Overall private listed companies from the "five social insurance and one housing fund" negative impact on employment of empirical results as you can see,in the private listed companies "five social insurance and one housing fund contribution rate,wage levels,return on net assets,a negative impact on employment,and net income,sales net interest rate and the asset-liability ratio index,has the certain positive role in enhancing employment levels.Private listed companies in different economic regions in the regression results,we will find that the eastern region and central parts of private listed company " five social insurance and one housing fund contribution rate " a negative impact on employment,and the latter effect is higher,and the western region of private listed companies " five social insurance and one housing fund contribution rate and the employment present positive correlation.Market in different types of private listed companies in the regression results,we find the main board market,small and medium-sized board market,the growth enterprise market of private listed company "five social insurance and one housing fund" burden level of the Labour market have a significant negative impact,and the negative impact is the main board market,small and medium-sized board market,the growth enterprise market decreasing trend.In various categories of the empirical analysis of the effects of employment,we found that the public accumulation fund for housing construction for employment have a positive role in promoting,the rest of the five kinds of risks have a negative effect on employment levels,and the influence of endowment insurance is the most strong,followed by birth insurance,inductrial injury insurance,unemployment insurance,influence the weak health insurance,the role of the two opposite joint affects the level of employment.