Insurance IN HANOI, VIETNAM

Hanoi-Vietnam: Compulsory social insurance premium from July 15, 2020

02:54, 11/07/2024

The social insurance regime is one of the benefits provided to employees in Vietnam. In this context, the social insurance premiums paid by employers and employees are one of the notable matters.

According to the current regulations, the specific social insurance premiums in Vietnam are as follows:

1. For Vietnamese employees

- In cases where the employer submits a written request to contribute to the occupational disease and accident fund at a lower rate and has the approval decision from the Ministry of Labor, Invalids, and Social Affairs:

Employers					Employees
Social Insurance			Unemployment Insurance	Health Insurance	Social Insurance			Unemployment Insurance	Health Insurance
Retirement and Survivorship	Sickness and Maternity	Occupational Accidents and Diseases			Retirement and Survivorship	Sickness and Maternity	Occupational Accidents and Diseases
14%	3%	0.3%	1%	3%	8%	-	-	1%	1.5%
21.3%					10.5%
31.8% total

- In cases where the employer does not submit a written request or the period of lower premium has expired:

Employers					Employees
Social Insurance			Unemployment Insurance	Health Insurance	Social Insurance			Unemployment Insurance	Health Insurance
Retirement and Survivorship	Sickness and Maternity	Occupational Accidents and Diseases			Retirement and Survivorship	Sickness and Maternity	Occupational Accidents and Diseases
14%	3%	0.5%	1%	3%	8%	-	-	1%	1.5%
21.5%					10.5%
32% total

2. For foreign employees

From now until the end of 2021:

Employers					Employees
Social Insurance			Unemployment Insurance	Health Insurance	Social Insurance			Unemployment Insurance	Health Insurance
Retirement and Survivorship	Sickness and Maternity	Occupational Accidents and Diseases			Retirement and Survivorship	Sickness and Maternity	Occupational Accidents and Diseases
-	3%	0.3%	-	3%	-	-	-	-	1.5%
6.3%					1.5%
7.8% total

- In cases where the employer does not submit a written request or the period of lower premium has expired:

Employers					Employees
Social Insurance			Unemployment Insurance	Health Insurance	Social Insurance			Unemployment Insurance	Health Insurance
Retirement and Survivorship	Sickness and Maternity	Occupational Accidents and Diseases			Retirement and Survivorship	Sickness and Maternity	Occupational Accidents and Diseases
-	3%	0.5%	-	3%	-	-	-	-	1.5%
6.5%					1.5%
8% total

From January 1, 2022, for foreign employees, the following additions apply to the above two tables:

- Employers contribute 14% to the Retirement and Survivorship fund.

- Employees contribute 8% to the Retirement and Survivorship fund. (Article 12, Decree 143/2018)

This document outlines the complete social insurance contribution rates for both employers and employees who are Vietnamese citizens and foreign citizens working in Vietnam.

Legal Basis:

- Social Insurance Law;

- Employment Law;

- Decree 146/2018/ND-CP promulgated on October 17, 2018, detailing and guiding certain provisions of the Health Insurance Law;

- Decision 595/QD-BHXH of the Government of Vietnam issuing the collection process of social insurance, health insurance, unemployment insurance, occupational disease, and accident insurance; management of social insurance books and health insurance cards;

- Decree 143/2018/ND-CP detailing the Social Insurance Law and the Law on Occupational Safety and Health regarding mandatory social insurance for foreign employees working in Vietnam.

Le Vy

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- This translation is generated by OpenAI's GPT-4o model;
- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
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