Faro Vietnam would like to update information about the contribution of compulsory social insurance (SI), unemployment insurance (UI) and health insurance (SHI) under Decree 58/2020 / ND-CP effective from July 15, 2020, which has adjusted the contribution to the labor accidents (LA), occupational diseases funds (OD) with a number of eligible businesses:
1. For Vietnamese Employees
- In case the enterprise submits a written request to contribute to the Labor, War Invalids and Social Affairs Fund at a lower rate and has the approval decision of the Ministry of Labor, War Invalids and Social Affairs:
- In case the enterprise does not send the written request or the time limit for payment is closed with the lower rate:
2. For Foreign Employees
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From now till the end of 2021:
- In case the enterprise submits a written request to contribute to the labor accident and occupational diseases funds with a lower rate and has the approval decision of the Ministry of Labor, War Invalids and Social Affairs:
- In case the enterprise does not send the written request or the time limit for payment is closed with the lower rate:
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From January 1, 2022, for foreign employees, the following are added to the 2 above tables:
- Employers contribute 14% to pension and survivorship fund.
- The employee contributes 8% to pension and survivorship fund.
Please contact Faro Vietnam for advice and support on related information!
Email: service.vn@farorecruitment.com
Tel: + 84 24 3974 3091 (Hanoi Office) / + 84 28 3821 4654 (HCMC Office)
