Reduce unemployment insurance premium to 0% for employers affected by Covid-19 in Vietnam

Bao Ngoc

15:49, 25/09/2021

On September 24, 2021, the Government of Vietnam promulgated Resolution 116/NQ-CP on support policy Support employees and employers affected by the Covid-19 pandemic from the Unemployment Insurance Fund.

According to this Resolution, in order to contribute to supporting employers to reduce costs, make efforts to adapt to the new normal, maintain production and business, and create jobs for employees, the Vietnamese Government decided to:

Employers specified in Article 43 of the Law on Employment of Vietnam (excluding state agencies, political organizations, socio-political organizations, people's armed forces units and public non-business units whose recurrent expenditures are guaranteed by the state budget) are participating in unemployment insurance before October 1, 2021, may reduce the contribution rate to the Unemployment Insurance Fund from 1% to 0% of the monthly salary fund of employees subject to unemployment insurance.

The time to reduce the payment is 12 months, from October 1, 2021 to the end of September 30, 2022.

Resolution 116/NQ-CP of Vietnam was promulgated on September 24, 2021.

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