From 01st july, 2017: the common minimum wage increase from 1.210.000 to 1.300.000 per month
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:
|Maximum salary||Social Insurance||Health Insurance|
|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|
|Total of different amount||468,000||81,000|
The new common minimum wage will be applicable from 1st July, 2017.