Participating in social insurance is the obligation of the employee in Vietnam, but there are certain cases where the employee will not have to participate in social insurance.
Decree 141/2017/ND-CP has just been issued stipulating an increase in the regional minimum wage from 180,000 - 230,000 per month starting from January 1, 2018. Therefore, the mandatory social insurance contributions of enterprises in Vietnam will also increase accordingly. For specific content, you can follow the article below.
Compulsory social insurance includes policies for sickness, maternity, labor accidents, occupational diseases, retirement, and death benefits. This contribution rate is stipulated in the Law on Social Insurance 2014, effective from January 1, 2016.
Vietnam Social Security issued Official Dispatch 4027/BHXH-ST guiding the process of reviewing and handing over Social Insurance Books to employees in Vietnam specifically as follows:
From October 24, residents of Ho Chi Minh City who need to perform public administrative services related to Social Insurance, Health Insurance, and Unemployment Insurance at home only need to register the necessary transaction information on the system, and postal staff will come to their home to receive and return the documents.
From January 1, 2018, numerous regulations regarding salaries, taxes, and social insurance in Vietnam officially come into effect. Below, Lawnet will highlight the 10 most notable regulations, including:
According to the propaganda content on social insurance benefits in Official Dispatch 3758/BHXH-TT, Vietnam Social Security has pointed out 03 major differences between social insurance and life insurance as follows:
From July 1, 2018, the statutory pay rate in Vietnam was increased by 90,000 VND/month, raising the current rate to 1,390,000 VND/month. Some benefits for social insurance and health insurance participants in Vietnam were also changed.
Below is the new content mentioned in Decision 595/QD-BHXH guiding the process of social insurance collection, health insurance, unemployment insurance, occupational accident insurance, occupational disease insurance, and the issuance of social insurance books and health insurance cards in Vietnam.
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