Guidelines for Adjusting Monthly Salaries and Incomes Used for Social Insurance Contributions

04:31, 11/07/2024

On December 26, 2018, the Ministry of Labor, Invalids and Social Affairs promulgated Circular 35/2018/TT-BLDTBXH stipulating the adjustment levels of salary and monthly income for which social insurance contributions have been made.

For the subjects stipulated in Clause 1, Article 1 of Circular 35, the monthly salary upon which social insurance contributions are based is adjusted according to the following formula:

Adjusted monthly salary for social insurance contributions = Total monthly salary for social insurance contributions of each year x Adjustment rate for the salary contributed to social insurance of the corresponding year

In cases under Clause 2, Article 1 of Circular 35, the monthly income for voluntary social insurance contributions is adjusted according to the following formula:

Adjusted monthly income for voluntary social insurance contributions of each year = Total monthly income for social insurance contributions of each year x Adjustment rate for the monthly income contributed to social insurance of the corresponding year

In which, the adjustment rate for the salary or monthly income contributed to social insurance of each year is detailed in Table 1 and Table 2 issued together with this Circular.

More details can be found in Circular 35/2018/TT-BLDTBXH, which takes effect on January 15, 2019. The provisions of this Circular are applied from January 1, 2019.

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