19/12/2022 14:21

Vietnam: Differences between "compulsory social insurance" and "voluntary social insurance"

Vietnam: Differences between "compulsory social insurance" and "voluntary social insurance"

I often hear about compulsory social insurance and voluntary social insurance. So how to distinguish these two insurances? Thank you. "Minh Anh-Quang Binh, Vietnam"

Hello, Lawnet would like to answer your questions as follows:

Compulsory social insurance and voluntary social insurance are two types of social insurance prescribed in the Law on Social Insurance 2014.

Below are some criteria that distinguish these two types of insurance:

Criteria

Compulsory Social insurance Voluntary Social insurance
Subjects

– Persons working under labor contracts;

– Cadres, civil servants and public employees, officers, Non-ncommissioned officers, soldiers on definite-term service in the people’s public security;

– Part-time staffs in communes, wards and townships;

– Vietnamese guest workers.

– Vietnamese citizens aged full 15 years or older are not eligible to participate in compulsory social insurance.

Benefits

- Sickness;

- Maternity;

- Occupational accident and occupational disease;

- Retirement;

- Survivorship allowance.

- Retirement;

- Survivorship allowance.

Objects subject to payment

When participating in compulsory social insurance, the employer and employee are jointly responsible for paying social insurance.

Khi tham gia BHXH tự nguyện, người tham gia tự đăng ký tham gia tại cơ quan BHXH.

Level of monthly payment

– Employees pay 9% of their salary to pay social insurance premiums to the Social Insurance Fund and Unemployment Insurance Fund.

– Employers pay 18.5% of the salary paid for social insurance to the Social Insurance Fund and the Insurance Fund.

– Employees pay 22% of the monthly income selected by the employee, not more than 20% of the base salary.

Forms of payment

Forms of payment incldue:

- 3 months

- 6 months

- 12 months

– One-time payment in advance according to the time limit specified in the contract of sending workers to work abroad

 

 

 Forms of payment incldue

- Monthly

- 3 months

- 6 months

- 12 months

– One-time payment in advance according to the time limit specified in the contract of sending workers to work abroad

 

Legal basis

Chapter III of Law Social Insurance Year 2014

Chapter IV of Law Social Insurance Year 2014

Nhu Y
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