Recently, the Ho Chi Minh City Social Insurance Agency issued Announcement 1228/TB-BHXH regarding the adjustment and guidance on the implementation of the new statutory pay rate (1.39 million VND/month) from July 1, 2018. Accordingly:
Article table of contents
For employees
Employees participating in Social Insurance (SI), Health Insurance (HI), Labor Accident and Occupational Disease Insurance (LAODI), if the salary used as a basis for SI, HI contribution exceeds VND 27,800,000, the maximum SI, HI, LAODI contribution is based on VND 27,800,000 (equivalent to 20 times the statutory pay rate).
The highest monthly income option for participants in the voluntary Social Insurance scheme is VND 27,800,000 (20 times the statutory pay rate) at the time of payment.
For officials and public employees
The monthly salary used as a basis for SI, HI, LAODI contribution is the total salary coefficient multiplied by the new statutory pay rate, with specific contribution amounts as follows:
- SI contribution for non-specialized personnel at commune level = 1,390,000 x 8% = VND 111,200/month;- SI contribution for other subjects receiving salaries prescribed by the State = (Salary + allowances calculated by the statutory pay rate of VND 1,390,000/month) x 8%;- Maximum SI contribution for employees, and individuals receiving State-prescribed salaries = 1,390,000 x 20 x 8% = VND 2,224,000/month.
For individuals participating in HI with contributions funded by the state budget, the HI contribution is also implemented according to the new statutory pay rate, specifically:
- HI contribution for non-specialized personnel at commune level = 1,390,000 x 4.5% = VND 62,550/month;- HI contribution for other subjects receiving salaries prescribed by the State = (Salary + allowances calculated by the statutory pay rate of VND 1,390,000/month) x 4.5%.
Apart from Notice 1228/TB-BHXH, the aforementioned content is also based on Social Insurance Law 2014, Amended Health Insurance Law 2014, and Decree 105/2014/ND-CP.
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