How Much Unemployment Benefits Can One Receive?

12:43, 11/07/2024

When unemployed, upon submitting the necessary application and meeting the conditions for unemployment insurance benefits, what is the amount received and how is it calculated?

The question above is answered as follows:

Based on Article 50 of the Employment Law 2013:

- The monthly unemployment insurance (TCTN) benefit is 60% of the average monthly salary used for unemployment insurance contributions of the 6 consecutive months before unemployment.

- However, the TCTN benefit amount shall not exceed 5 times the statutory pay rate or the regional minimum wage at the time of contract termination.

- For every 12 months to 36 months of contribution, the employee is entitled to 3 months of TCTN benefits. Thereafter, for every additional 12 months of contribution, the employee is entitled to 1 more month of TCTN benefits but not exceeding 12 months in total.

Example: A terminates their contract in May 2015 and has been contributing to the unemployment insurance fund since March 2014. A's salary in 2014, 2015 is 5 million VND per month.

Thus, the monthly TCTN benefit A receives will be:

60% x 5 million = 3 million VND.

A has contributed to the unemployment insurance fund for 14 months, so A is entitled to 3 months of TCTN benefits.

The total TCTN amount A receives will be: 9 million VND.

Ngoc Lam

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