Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 44

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 44
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 Law of the PRC

Pursuant to the Labor Law of the PRC, which was
promulgated by the Standing Committee of the NPC on July 5, 1994 with an effective date of January 1, 1995 and was last amended on December
29, 2018 and the Labor Contract Law of the PRC, which was promulgated on June 29, 2007, became effective on January 1, 2008 and was last
amended on December 28, 2012, with the amendments coming into effect on July 1, 2013, enterprises and institutions shall ensure the safety
and hygiene of a workplace, strictly comply with applicable rules and standards on workplace safety and hygiene in China, and educate
employees on such rules and standards.

Furthermore, employers and employees shall enter
into written employment contracts to establish their employment relationships. Employers are required to inform their employees about
their job responsibilities, working conditions, occupational hazards, remuneration and other matters with which the employees may be concerned.
Employers shall pay remuneration to employees on time and in full accordance with the commitments set forth in their employment contracts
and with the relevant PRC laws and regulations. Jiangsu Yanggu and its subsidiaries have entered into written employment contracts with
all of the employees and performed its obligations required under the relevant PRC laws and regulations.

Social Insurance and Housing Fund

Pursuant to the Social Insurance Law of the
PRC, which was promulgated by the Standing Committee of the NPC on October 28, 2010 and became effective on July 1, 2011, and was
last amended on December 29, 2018, with the amendments coming into effect on the same day, employers in the PRC shall provide their employees
with welfare schemes covering basic pension insurance, basic medical insurance, unemployment insurance, maternity insurance, and occupational
injury insurance. Without force majeure reasons, employers must not suspend or reduce their payment of social insurance for employees,
otherwise, competent governmental authorities will have the power to enforce employers to pay up social insurance within a prescribed
time limit, and a fine of 0.05% of the unpaid social insurance will be charged on the part of the employers per day commencing from the
first day of default. Provided that the employers still fail to make the payment within the prescribed time limit, a fine of over one
time and up to three times of the unpaid sum of social