Enterprises must pay social insurance for employees eligible to participate in social insurance. So what are penalties for shirking social insurance premiums in Vietnam?
Hanoi Social Security issued Dispatch 2588/BHXH-QLT on the minimum wage serving as a basis for social insurance, health insurance, unemployment insurance, occupational accident and occupational disease insurance premiums in Vietnam from July 1, 2022.
From July 1, 2022, the rate of social insurance premiums to the Fund for occupational accidents and diseases will be adjusted from 0% to 0.5% in Vietnam.
Employers who fail to follow with regulations on paying insurance for employees will be administratively fined. Below is a summary of the fines for violations of insurance payment for employers in Vietnam
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.
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