[Vietnam Legal Updates] Reduction In Contribution Rate To Occupational Accident Or Diseases Fund

June 25, 2020
Source: Thanh Nien News

The Government published Decree 58/2020/ND-CP allowing enterprises in reducing social insurance (SI) contribution rates to occupational accidents or disease funds. The Decree taking effect on 15 July 2020.

In fact, enterprises can apply for a contribution rate of 0.3% and eligibly send an application form with supporting documents (attached in this Decree) to the Ministry of Labour - Invalids and Social Affairs if they fully meet the following conditions:

- Operating in industries with a high risk of occupational diseases and accident as in Circular 7/2016/TT-BLDTBXH; and

- Not subject to an administrative or penal liability on occupational violation in the last 3 years; and

- Have reported occupational, safety, and sanitation accidents exactly and promptly in the last 3 years; and

- Reduce the latest number of occupational accidents by at least 15%, compared with the average of the last 3 years, or having no occupational accidents in the last 3 years.

The approval must be valid for 36 months and is renewable.

Reference:

*Decree 58/2020/ND-CP

This is not a legal document. The information here is for reference and general guidance purposes only.

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