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

June 25, 2020
Source: Thanh Nien News

The Government has just issued Decree 58/2020/ND-CP aimed to support some certain enterprises in reducing the social insurance contribution rates to occupational accidents or diseases fund. The Decree comes into effect on 15 July 2020.

In particular, the enterprises, can apply for a lower contribution rate of 0.3% instead of the current regulated rate of 0.5%, and are eligible to submit an application form together with supporting documents (attached in this Decree) to the Ministry of Labour - Invalids and Social Affairs when fully meeting following conditions:

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

- Have NOT been subjected to an administrative or penal liability on violation of occupational safety, sanitation and social insurance in the last 3 years; and

- Have reported occupational accidents and occupational safety and sanitation accurately and timely in the last 3 years; and

- The number of occupational accidents of the last year has been reduced by at least 15% in comparison with the average of the last 3 years or having no occupational accidents in the last 3 years.

The approval shall 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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