Methods for payment and contribution rates for employees participating in voluntary occupational accident insurance in Vietnam from January 1, 2025

Methods for payment and contribution rates for employees participating in voluntary occupational accident insurance in Vietnam from January 1, 2025​ (Image from the internet)

On November 1, 2024, the Government of Vietnam issued Decree 143/2024/ND-CP stipulating voluntary occupational accident insurance for workers not engaged in labor contracts.

Methods for payment and contribution rates for employees participating in voluntary occupational accident insurance in Vietnam from January 1, 2025

Decree 143/2024/ND-CP outlines policies on voluntary occupational accident insurance for employees working without labor contracts (hereinafter referred to as voluntary occupational accident insurance); the Voluntary Occupational Accident Insurance Fund; the dossier, procedures for participation, and resolution of voluntary occupational accident insurance policies; and the rights and responsibilities of the social insurance agency, state labor management agencies, and employees regarding voluntary occupational accident insurance.

Within that, Article 11 of Decree 143/2024/ND-CP specifies the contribution methods and rates for employees participating in voluntary occupational accident insurance as follows:

(1) Employees participating in voluntary occupational accident insurance register with the social insurance agency via one of the following two payment methods:

- Pay once every 6 months;

- Pay once every 12 months.

(2) Individuals currently participating in voluntary occupational accident insurance can change their payment method. The change in payment method is made after completing the previously registered payment cycle.

(3) Voluntary occupational accident insurance contribution rates are set as follows:

- Contribution for 6 months is 6% of the minimum wage in region IV;

- Contribution for 12 months is 12% of the minimum wage in region IV.

(4) The timing of voluntary occupational accident insurance payments as per the contribution method in (1) is as follows:

- For the first time, immediately upon registering for voluntary occupational accident insurance;

- For subsequent times, within 10 days before the end of the payment cycle.

- Immediately upon re-registering for voluntary occupational accident insurance as per Article 17 of Decree 143/2024/ND-CP.

Regulations for resolution of registration and issuance of social insurance books in Vietnam

- Employees submit registration dossiers for participation, reissuance of social insurance books, and dossier adjustments according to the provisions of Articles 14 and 15 of Decree 143/2024/ND-CP to the social insurance agency.

- The social insurance agency is responsible for issuing social insurance books within the following timeframes:

+ 7 days from the date of receiving a complete dossier as prescribed for first-time participants in voluntary social insurance;

+ 15 days from the date of receiving a complete dossier as prescribed for reissuance of social insurance books; in cases where the process of verifying social insurance contribution periods is complex, not exceeding 45 days. If not issuing, a written response explaining the reason must be provided;

+ 10 days from the date of receiving a complete dossier as prescribed for cases of adjusting social insurance participation information for employees, the social insurance agency must reissue the social insurance book. If not resolved, a written response explaining the reason must be provided.

(Article 16 of Decree 143/2024/ND-CP)

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