From 01st july, 2017: the common minimum wage increase from 1.210.000 to 1.300.000 per month


2017-04-10

FROM 01st JULY, 2017: THE COMMON MINIMUM WAGE INCREASE FROM 1.210.000 TO 1.300.000 PER MONTH

The current common minimum wage is 1,210,000 applied from 01st May, 2016 according to the Resolution No.99/2015/QH13 on state budget estimate in 2016 and the Decree No.47/2016/NĐ-CP providing for the basic wage level for cadres, civil servants, public employees and armed forces. Recently, based on the Resolution on state budget estimate in 2017 of National Assembly, the Government issued the Decree No. 47/2017/NĐ-CP specifying increase the common minimum wage from 1,210,000 VND/month to 1,300,000VND/month from 01st July, 2017 (increasing 90,000 VND/month from the current common minimum wage).

At the same time with adjustment of the common minimum wage, the cap salary for Social Insurance and Health Insurance contribution will be risen as follows:

Unit: VND/month

Maximum salary Social Insurance Health Insurance
EE

(8%)

ER

(18%)

EE

(1,5%)

ER

(3%)

24,200,000 (until 30th June 2017) 1,936,000 4,356,000 363,000 726,000
26,000,000 (from 01st July 2017) 2,080,000 4,680,000 390,000 780,000
Different amount     144,000    324,000   27,000   54,000
Total of different amount 468,000 81,000

 

The new common minimum wage will be applicable from 1st July, 2017.

Click for detailing of Decree 47/2017/ND-CP