What are the regulations on social insurance premium rate for enterprises in Vietnam? How much is the social insurance premium rate for enterprises in 2022?
- What are the regulations on social insurance premium rate for enterprises in Vietnam in 2022?
- What are the regulations on insurance deduction rate in Vietnam for the period from October 1, 2021 to the end of June 30, 2022?
- What are the regulations on insurance deduction rate in Vietnam for the period from July 1, 2022 to the end of September 30, 2022?
- What are the regulations on insurance deduction rate in Vietnam for the period from October 1, 2022 onward?
What are the regulations on social insurance premium rate for enterprises in Vietnam in 2022?
Pursuant to the provisions of Article 2 of Decision 23/2021/QD-TTg in 2021, stipulating the rate and the period of contribution to the occupational accident and disease benefit fund, according to which:
- Rate of contribution: equal to 0% of the salary fund used as the basis for paying social insurance premiums.
- Application period: 12 months, from July 1, 2021 to the end of June 30, 2022.
Pursuant to the provisions of Section II of Resolution 116/NQ-CP of 2021, which stipulates the subjects, the reduction in contribution rates to the UI Fund made by employers as follows:
- Regulated entities:
Employers prescribed in Article 43 of the Employment listed as those participating in Unemployment Insurance until October 1, 2021 (except state agencies, political organizations, socio-political organizations, units of people’s armed forces and public service delivery units whose recurrent expenditures are financed by the state budget).
- Reduction:
The employer’s contribution rate has been reduced from 1 per cent to 0 per cent of the monthly wage fund for employees who have participated in Unemployment Insurance.
- Reduction period:
12 months, from October 1, 2021 to September 30, 2022 inclusive.
Thus, the insurance deduction rate in 2022 is divided into 3 periods as follows:
What are the regulations on insurance deduction rate in Vietnam for the period from October 1, 2021 to the end of June 30, 2022?
Specifically, to deduct 17% of social insurance, enterprises will deduct: 14% to the retirement and survivorship fund, 3% to the sickness and maternity fund, and 0% to the occupational accident and disease benefit fund.
The remaining 8% is deducted from the Employee's salary (will contribute to the retirement and survivorship fund).
What are the regulations on social insurance premium rate for enterprises in Vietnam? How much is the social insurance premium rate for enterprises in 2022? (Image from the internet)
What are the regulations on insurance deduction rate in Vietnam for the period from July 1, 2022 to the end of September 30, 2022?
Specifically, to deduct 17.5% social insurance, enterprises will deduct: 14% to the retirement and survivorship fund, 3% to the sickness and maternity fund, and 0.5% to the occupational accident and disease benefit fund.
What are the regulations on insurance deduction rate in Vietnam for the period from October 1, 2022 onward?
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Specifically, to deduct 17.5% social insurance, enterprises will deduct: 14% to the retirement and survivorship fund, 3% to the sickness and maternity fund, and 0.5% to the occupational accident and disease benefit fund.
- In case the enterprises operate in industries with high risk of occupational accidents and diseases: If it is eligible, has a written request and is approved by the Ministry of Labor, Invalids and Social Affairs, it may contribute to the fund of occupational accidents and diseases at the rate of 0.3 %.
So:
+ Contribution to the District Labor Confederation is: 2% (Trade Union funds) - On the total monthly salary fund paid by enterprises to employees participating in social insurance.
+ Payment to the social insurance agency of the district as follows:
- From October 2021 to the end of June 30, 2022, businesses must pay monthly for:
+ The social insurance agency of the district is: 30.5% (social insurance, health insurance, unemployment insurance, occupational accident and disease insurance).
(In which: Deduction to the cost of the enterprise is: 20% and the deduction to the employee's salary is: 10.5%).
- From July 2022 to the end of September 30, 2022, businesses must pay monthly for:
+ Social insurance agencies of districts are: 31% (social insurance, health insurance, unemployment insurance, occupational accident and occupational disease).
(In which: Deduction to enterprise's expenses is: 20.5% and deduction to employee's salary is: 10.5%).
- The deduction of unemployment insurance premium will be done automatically, without incurring administrative procedures.
- From October 2022 onwards, enterprises must pay monthly for:
+ Social insurance agencies of districts are: 32% (social insurance, health insurance, unemployment insurance, occupational accident and occupational disease). (In which: Deduction to enterprise's expenses is: 21.5% and deduction to employee's salary is: 10.5%).
Thus, above is the rate of insurance deduction in 2022 through 3 periods that you can refer to.
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