Arcadyan establishe d Employee Welfare Committee in accordance with local government laws. In addition to providing various subsidies for employees' marriage, funeral, illness and child-birth, it also regularly organizes various club activities adn trips, birthday parties, evening parties, etc. to promote the physical and mental health of employees and promote employees networking. Arcadyan also covers premiums of employees and their parents, spouses, children of life insurance, accident insurance, cancer insurance, and medical insurance.
Employee Welfare Committee allocates welfare funds in accordance with the law, regularly organizes welfare committee meetings and hosts employee welfare activities to support the diversified development of club activities. The welfare package includes birthday gifts, annual festival gifts, employee health promotion and leisure activities, domestic and foreign travel, wedding and funeral subsidies, hospitalization allowance for employees and their families, and year-end banquet and lucky draw event.
Childbirth Incentives and Unpaid Parental Leave
Aligning with the government's birth incentive policies to raise birth rate in Taiwan, Arcadyan has been offering Arcadyan Headquarters employees a NT$66,000 subsidy per child since 2011. Arcadyan has given NT$20.6 million in child birth subsidies between 2011 and 2022. In addition to paid maternity and paternity leaves, Arcadyan also provides unpaid parental leave for up to 2 years. And sign contracts with external childcare institutions and early childhood education institutions to provide employees with more preferential plans for babysitting or preschool education.
Retirement Regulations
Arcadyan has established employee retirement regulations. An external actuary will confirm whether the balance of the transfer account is suffi-cient every year. By the end of 2022, the balance of the transfer account to the retirement account is NT$140,338,758. According to the regula-tions, employees' service years are calculated in accordance with the La-bor Standards Law; the calculation and payment of employee retirement benefits are handled in accordance with relevant regulations. From July 1, 2005, the Labor Pension Regulations came into effect. Employees are free to choose the old and new system. Each employee who meets the new system will be allocated to the labor pension of the Bureau of Labor Insur-ance at the rate of 6% of his monthly salary. Personal account. According to the local social insurance system, overseas production centers allocate a certain percentage of monthly employee wages to the government (16% in mainland China and 14% in Vietnam) social insurance account for employees to use when they are old, sick, disabled, unemployed, giving birth, or facing difficulties in life. At the end of 2022, the pension fund allocated by Arcadyan to the Labor Insurance Bureau will be NT$51,561,000. Other basic endowment insur-ance premiums and social welfare expenses recognized by subsidiaries included in the preparation of consoli-dated financial statements are NT$58,648,000.