On December 29, 2017, the Ministry of Labor, War Invalids and Social Affairs of Vietnam issued Circular 32/2017/TT-BLDTBXH stipulating the adjustment levels for monthly salaries and incomes that are subject to social insurance in Vietnam.
Law on Social Insurance 2014 is effective from January 01, 2016. However, some provisions of this Law will officially take effect in 2018. The regulations on paying social insurance premiums and receiving social insurance benefits in Vietnam are as follows:
This is a query from Ms. Nguyen Thi Lien (email: nglienkt**@gmail.com) sent to Lawnet with the content: "I work at a shoe manufacturing enterprise in Ho Chi Minh City. My current salary as the basis for payment of social insurance premiums is 4,300,000 VND/month. So, does the increase in region-based minimum wages lead to increase in social insurance premiums?
The Law on Social Insurance 2014 adopted by the National Assembly of Vietnam on November 20, 2014, effective from January 1, 2016, contains several noteworthy provisions. Among these is the adjustment in the calculation method of pensions before and after January 1, 2018.
Shortly, there will be regulations on increasing the social insurance premium paid by enterprises in Vietnam, including the increase in the payment rate of premiums to the occupational accident and disease insurance fund.
Employees and employers in Vietnam must pay compulsory social insurance premiums - a type of social insurance organized by the State. So, which entities are required to pay compulsory social insurance premiums in 2021?
The article presents the average monthly salary on which social insurance premiums are based for calculation of pension and lump-sum allowance in Vietnam according to current regulations.
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