Compulsory social insurance contribution rates in Vietnam from June 1, 2017

08:12, 11/07/2024

the Government of Vietnam has just signed and promulgated Decree 44/2017/ND-CP regulating the compulsory social insurance (SI) contribution rates to the Occupational Accident and Disease Insurance Fund (hereinafter referred to as the Fund).

Every month, employers contribute to the Social Insurance Fund for employees as specified in Clause 1, Article 2 of the Social Insurance Law, with the following contribution rates:

- 0.5% of the statutory pay rate for non-commisSocial Insuranceoned officers, soldiers in the military; non-commisSocial Insuranceoned officers, soldiers in the police serving for a limited period; military, police, and cipher students receiving living expenses;

- 0.5% of the wage fund used to pay Social Insurance premiums for employees who are other subjects, except for domestic workers.

Thus, compared to the current rates, the new Social Insurance contribution rate has been reduced by half.

Depending on the ability to ensure the Fund's balance, the above-mentioned rate may be adjusted from January 1, 2020.

Decree 44/2017/ND-CP takes effect from June 1, 2017. For employees working under labor contracts of 01 month to less than 03 months, the contribution rate will apply from January 1, 2018.

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