Amendments to the Regulations on Unemployment Insurance Premium Payment Methods in Vietnam

Le Truong Quoc Dat

17:02, 09/07/2024

Amendments to the Regulations on Unemployment Insurance Premium Payment Methods in Vietnam are the contents of Decision 490/QD-BHXH dated March 28, 2023.

Amendment to the Regulations on Unemployment Insurance Premium Payment Methods

Amendments to the Regulations on Unemployment Insurance Premium Payment Methods in Vietnam (Image from the Internet)

1. Amendments to the Regulations on Unemployment Insurance Premium Payment Methods in Vietnam

According to Decision 490/QD-BHXH dated March 28, 2023, amending Article 16 of Decision 595/QD-BHXH dated April 14, 2017, regarding the method of paying unemployment insurance premiums as follows:

Monthly, employers shall pay unemployment insurance premiums by deducting the salary of each employee as prescribed to be paid simultaneously into the Unemployment Insurance Fund.

Previously, in Article 16 of Decision 595/QD-BHXH dated April 14, 2017, the method of paying unemployment insurance premiums was as follows:

Method of paying unemployment insurance premiums for units and workers as prescribed in Clauses 1, 2, and 3, Article 7 of Decision 595/QD-BHXH dated April 14, 2017 (amended in Decision 505/QD-BHXH dated March 27, 2020, and Decision 888/QD-BHXH dated July 16, 2018):

- Monthly payment method:

Monthly, by the end of the month at the latest, the unit deducts the amount for compulsory social insurance premiums from the monthly salary fund of employees participating in compulsory social insurance;

Simultaneously deduct the monthly salary to pay compulsory social insurance premiums for each employee as prescribed and transfer it at once to the dedicated collection account of the social insurance agency at a bank or the State Treasury.

- Units such as enterprises, cooperatives, individual business households, cooperative groups engaged in agriculture, forestry, fishery, or salt production, paying wages based on products or contracts, must register the method of paying once every 03 or 06 months with the social insurance agency;

The social insurance agency cooperates with the Labor agency to inspect the unit before deciding on its payment method. At the latest, by the end of the selected payment period, the unit must transfer the full amount to the Social Insurance Fund.

- Payment according to the geographical area:

+ Units headquartered in any province must register to participate in paying social insurance in that province according to the provincial social security division.

+ Branches of enterprises operating in any locality shall pay social insurance in that locality or at the parent company.

2. Replacement of Certain Phrases in Decision 595/QD-BHXH dated April 14, 2017, and Decision 505/QD-BHXH dated March 27, 2020 in Vietnam

Specifically, replace certain phrases in Decision 595/QD-BHXH dated April 14, 2017, and Decision 505/QD-BHXH dated March 27, 2020, as follows:

- Replace the phrase "Dai ly thu” with “To chuc dich vu” (Service Organization).

- Replace the phrase “Nha truong” with “Co so giao duc” (Educational Institution).

- Replace the phrases “Ban Thu”, “Ban So - The” with “Ban Quan ly Thu - So, The” (Revenue - Book, Card Management Committee).

- Replace the phrases “Phong/To quan ly thu”, “Phong/To cap so, the” with “Phong/To Quan ly Thu - So, The” (Revenue - Book, Card Management Department/Team).

- Replace the phrases “Phong quan ly thu”, “Phong cap so, the” with “Phong Quan ly Thu -So, The” (Revenue - Book, Card Management Department).

- Replace the word “no” with “cham dong” (late payment).

3. Amendments to the Concept of Retrospective Collection of Social Insurance, Health Insurance, Unemployment Insurance, Occupational Accident and Disease Insurance premiums in Vietnam

The concept of retrospective collection is amended in Decision 490/QD-BHXH dated March 28, 2023, as follows:

Retrospective collection is the collection of cases of evasion, insufficient contribution for mandatory participants, inadequate amount as per regulations, misappropriation of social insurance, health insurance, unemployment insurance, occupational accident and disease insurance contributions according to regulations in:

Circular 20/2016/TT-BTC issued by the Ministry of Finance on February 3, 2016, guiding the financial management mechanism for social insurance, health insurance, unemployment insurance, and the management costs of social insurance, health insurance, and unemployment insurance.

More details can be found in Decision 490/QD-BHXH effective in Vietnam from April 1, 2023.

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