Adjustment of Monthly Salary and Income for Social Insurance Contribution in 2020

13:50, 10/07/2024

Recently, the Ministry of Labor, Invalids and Social Affairs has issued Circular 35/2019/TT-BLDTBXH regulating the adjustment levels of monthly salaries and incomes for social insurance contributions.

The adjustment levels for monthly salaries and incomes subject to social insurance contributions for the corresponding years are implemented according to Table 1 and Table 2 of this Circular.

To be specific: The adjustment level for monthly salaries and incomes subject to social insurance contributions for the year 2020 is 1.00. Additionally, the adjustment levels for monthly salaries and incomes subject to social insurance contributions from before 1995 to 2019 have been changed compared to the old regulations in Circular 35/2018/TT-BLDTBXH (except for the year 2019, which remains the same), for example:

- Adjustment level for monthly salaries subject to social insurance contributions for the corresponding year: Before 1995: 4.85 (increase by 0.13); 1995: 4.12 (increase by 0.11); 1996: 3.89 (increase by 0.1);...; 2018: 1.03 (increase by 0.03);- Adjustment level for monthly income subject to social insurance contributions for the corresponding year: 2008: 1.91 (increase by 0.05); 2009: 1.79 (increase by 0.05); 2010: 1.64 (increase by 0.05);…; 2018: 1.03 (increase by 0.03).

More details can be found in: Circular 35/2019/TT-BLDTBXH effective from February 15, 2020 and applied from January 1, 2020.

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