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Employee Defined Contribution Plan
12 Months Ended
Dec. 31, 2019
Employee Defined Contribution Plan  
Employee Defined Contribution Plan

NOTE 10. EMPLOYEE DEFINED CONTRIBUTION PLAN

 

Full time employees of the Company in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the PRC subsidiaries and VIEs of the Company make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The employee benefits were expensed as contribution was made. The Company has no legal obligation for the benefits beyond the contributions made. The total amounts for such contributions were approximately $140,149, $1,317,484 and $237,531 for the years ended December 31, 2019, 2018 and 2017, respectively.