The Company provides
the following benefits for all employees:
A. Employee Welfare
Fund: An amount equal to 14% of payroll is set aside by the Company for standard employee benefits. This fund is managed and controlled
by the Company. All required payments current.
B. Open Policy
Pension: The Company pays to national and community insurance agents an amount equal to 20% of payroll. This insurance continues
to cover the employee subsequent to retirement.
Insurance: The Company pays to the national employment administrative entities an amount equal to 1% of payroll. Any dismissed
employee thereby receives a specified amount of family-support funds for a designated period.
D. Housing Surplus
Reserve: The Company pays to the national housing fund administrative entities an amount equal to 10% of payroll for deposit into
the employees' future housing allowance accounts.
items are for employee's benefits and should be accounted for as the Company's expenses.