Are Enterprises Required to Pay Monthly Social Insurance for Employees?

Article 7 Decision No. 595/QD-BHXH of 2017 (amended by Clause 13 Article 1 Decision No. 505/QD-BHXH of 2020) stipulates the payment methods as follows:

- Monthly Payment

Monthly, no later than the last day of the month, the unit shall deduct the mandatory social insurance contribution from the monthly salary fund of employees participating in mandatory social insurance, and concurrently deduct from each employee's monthly salary the mandatory social insurance contribution at the prescribed rate, transferring all at once into the specialized collection account of the social insurance agency opened at a bank or State Treasury.

- Payment every 03 or 06 months

Units such as enterprises, cooperatives, individual business households, and cooperative groups operating in the fields of agriculture, forestry, fishery, and salt production that pay wages based on products or contracts shall register the payment method of either every 03 months or 06 months with the social insurance agency; the social insurance agency will cooperate with the Labor agency to inspect the unit before deciding the unit’s payment method. No later than the last day of the chosen payment method, the unit must transfer the full amount into the social insurance fund.

Thus, enterprises, cooperatives, individual business households, and cooperative organizations in the fields of agriculture, forestry, fishery, and salt production that pay wages based on products or contracts shall register to pay every 03 or 06 months with the social insurance agency. Other units shall pay monthly.

Hence, you need to compare the above regulations with your company's case to choose the correct social insurance payment method.

Sincerely!