Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 45

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 45
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 insurance will be charged.

In accordance with the Regulations on Management
of Housing Provident Fund, which were promulgated by the State Council on April 3, 1999 and last amended on March 24, 2019, employers
must register at the designated administrative centers and open bank accounts for depositing employees’ housing funds. Employer
and employee are also required to pay and deposit housing funds, with an amount no less than 5% of the monthly average salary of the employee
in the preceding year in full and on time. Employers must not suspend or reduce the payment of house provident funds for their employees.
Under the circumstances where financial difficulties do exist due to which an employer is unable to pay or pay up house provident funds,
permission of labor union of the employer and approval of the local house provident funds commission must first be obtained before the
employer can suspend or reduce their payment of house provident funds. Where an employer does not open accounts of house provident funds
for its employees, the relevant authorities will have the power to demand such employer to do so within a prescribed period, failure of
which can result in a fine of over RMB 10,000 (approximately $1,500) and up to RMB 50,000 (approximately $7,000) charged on the employer.
Moreover, under the cases where competent authorities have given notice to the employer for paying up house provident funds but the employer
still fails to do so, an application for enforcement can be filed to the court in this regard.

PRC Laws and Regulations Related to internet information security
and privacy protection

The PRC Civil Code

On May 28, 2020, the National People’s Congress
of the PRC issued the PRC Civil Code, which became effective on January 1, 2021. The PRC Civil Code stipulates that the personal information
of a natural person shall be protected by the law. Any organization or individual shall legally obtain the personal information of others
when necessary and ensure the safety of such personal information, and shall not illegally collect, use, process or transmit the personal
information of others, or illegally buy or sell, provide or make public the personal information of others.

Cybersecurity Law of the PRC

On November 7, 2016, the Standing Committee of
the National People’s Congress of the PRC (the “ SCNPC”) promulgated the Cybersecurity Law of the PRC (“ Cybersecurity
Law”)