From January 1, 2018, the increase in region-based minimum wages leads to an increase in a series of salary deductions. Notably, the salary serving as the basis for social insurance premium payment of employees in enterprises from 2018 in Vietnam is adjusted as follows:
Article table of contents
Unit: Dong/Month
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Note:
- The monthly salary serving as the basis for compulsory social insurance and health insurance premium payment in Vietnam must not exceed 20 times the statutory pay rate.
Currently, the statutory pay rate is 1,300,000 VND/month (according to Decree 47/2017/ND-CP). Thus, the maximum salary serving as the basis for compulsory social insurance premium payment: 20 x 1,300,000 Dong/month = 26,000,000 Dong.
From July 1, 2018, the statutory pay rate will be 1,390,000 Dong/month (according to Decision 1916/QD-TTg dated November 29, 2017, by the Prime Minister of the Government of Vietnam on the allocation of the state budget estimate for 2018.)
- The maximum monthly salary serving as the basis for unemployment insurance premium payment is equivalent to 20 times the region-based minimum wage.
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