The important changes on contribution of compulsory social insurance


2017-08-08

On 01st June, 2017, Vietnam Social Insurance department issued the Official Letter No. 2159/BHXH-BT guiding on premium of occupational accident and disease insurance fund and collection of social insurance, health insurance, unemployment insurance, occupational accident and disease insurance as follows:

  1. Contribution rate of occupational accident and disease insurance fund

Pursuant to Decree No. 44/2017/ND-CP on the rate of contribution to the occupational accident and disease insurance fund, the monthly contribution rates paid into the fund for occupational accident and disease insurance covers by employers shall be 0.5% based on the salary funds on which social insurance premiums from 01st June, 2017

  1. Collection of social insurance, health insurance, unemployment insurance, occupational accident and disease insurance based on the new common minimum wage

Pursuant to Decree No.47/2016/NĐ-CP dated 24th April, 2017 providing for the basic wage level for cadres, civil servants, public employees and armed forces, the common minimum wage is 1.300.000 from 01st July, 2017. Thus, the cap salary for Social Insurance and Health Insurance contribution will be risen from 24.200.000 dong to 26.000.000 dong since 01st July, 2017.