Changes in minimum social insurance contribution in Vietnam from July 1, 2022

The rate of compulsory social insurance contribution in Vietnam shall be based on the rate of contribution or salary calculated for social insurance contribution. The increase in the regional minimum wage from July 1, 2022 will have an impact on the salary of the monthly compulsory social insurance contribution.

Changes in minimum social insurance contribution in Vietnam from July 1, 2022 (Illustration)

The following minimum monthly wages shall be set for each of the four regions:

- Region I is VND 4,680,000/month;

- Region II is VND 4,160,000/month;

- Region III is VND 3,640,000/month;

- Region IV is VND 3,250,000/month.

According to the Law on Social Insurance 2014 , monthly salaries for compulsory social insurance contribution in Vietnam include salary; salary allowance; other additional amounts as prescribed by the labor law. However, the monthly salary for compulsory social insurance contribution will be limited to the minimum and maximum. So what is the minimum social insurance contribution in Vietnam from July 1, 2022?

In this regard, according to Decision 595/QD-BHXH dated 14/4/2017, the minimum monthly salary for compulsory social insurance in Vietnam is as follows:

- For employees doing the simplest jobs or titles under normal working conditions in Vietnam: Not lower than the regional minimum wage at the time of contribution.

- For employees working in jobs or titles requiring labor through training and apprenticeship: At least 7% higher than the regional minimum wage.

- For employees working in heavy, toxic and dangerous labor conditions in Vietnam: At least 5% higher than the salary of jobs or titles of equivalent complexity, working in normal labor conditions.

- For employees working in particularly heavy, toxic and dangerous labor conditions: At least 7% higher than the salary of jobs or titles of equivalent complexity, working in normal labor conditions.

Chau Thanh

 

 

 

 

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