Company: XXC
Filing Date: 2025-08-05
Form Type: F-1/A
Source: 0001213900-25-071711
Chunk: 192

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-08-05
Form: F-1/A
Chunk 192
---
 to be paid upon certain terminations. In addition, if an employer intends to enforce a non -competeprovision in an employment contract or non -competitionagreement with an employee, it has to compensate the employee on a monthly basis during the term of the restriction period after the termination or expiry of the labor contract. Employers in most cases are also required to provide severance payment to their employees after their employment relationships are terminated. Enterprises in China are required by PRC laws and regulations to participate in certain employee benefit plans, including social insurance funds, namely a pension plan, a medical insurance plan, an unemployment insurance plan, a work -relatedinjury insurance plan and a maternity insurance plan, and a housing provident fund, and contribute to the plans or funds in amounts equal to certain percentages of salaries, including bonuses and allowances, of the employees as specified by the local government from time to time at locations where they operate their businesses or where they are located. According to the Social Insurance Law, an employer that fails to make social insurance contributions may be ordered to rectify the non -complianceand pay the required contributions within a stipulated deadline and relevant management in charge or other directly responsible personnel may be fined from RMB 1,000 to RMB10,000 for the non -compliance. According to the Regulations on Management of Housing Fund, an enterprise that fails to make housing fund contributions may be ordered to rectify the noncompliance and pay the required contributions within a stipulated deadline; if the enterprise fails to rectify the non -compliancewith the stipulated deadline, it be may be subject to a fine ranging from RMB10,000 or RMB 50,000and an application may be made to a local court for compulsory enforcement. As of the date of this prospectus, our PRC subsidiaries have provided social security insurance including pension, medical insurance, unemployment insurance, maternity insurance, on -the-jobinjury insurance and housing fund plans through a PRC government -mandatedbenefit contribution plan for most of our employees except for those who already purchased social security insurance in their local registered residences and voluntarily choose not to be enrolled into our insurance system, and have made adequate contributions to employee benefit plans, as required by applicable PRC laws and regulations. On December28, 2012, the Labor Contract Law was amended to impose more stringent requirements on labor dispatch which became effective on July1, 2013. Pursuant to the amended Labor Contract Law, the dispatched contract workers shall be entitled