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blue-check From July 1st, 2022: Social insurance contributions must be adjusted according to the new minimum wage levels

Official letter No. 3288/BHXH-QLT dated June 21st, 2022 of Ho Chi Minh City Social Insurance Agency regarding guidelines for implementation of contributions to social insurance (SI), health insurance (HI), unemployment insurance (UI), occupational accident and disease insurance from July 1st, 2022
Posted: 22/6/2022 7:51:41 AM | Latest updated: 23/6/2022 9:52:38 AM (GMT+7) | LuatVietnam: 5478 | Vietlaw: 566
VietlawOnline

Thanks to the increase in the minimum wage levels from July 1st, 2022, Ho Chi Minh City Social Insurance Agency notes that enterprises have to adjust the salaries agreed in labor contracts and the salaries on which the social insurance contributions are based to be appropriate to the new minimum wage levels.

In particular, salaries as the basis for paying social insurance from July 1st, 2022 must not be lower than VND 4,680,000 (Region I); 4,160,000 (Region II); 3,640,000 (Region III); 3,250,000 (Region IV) (Decree No. 38/2022/ND-CP ).

By July 25th, 2022 at the latest, enterprises have to submit the applications for adjustments to salaries as the basis for paying social insurance according to the new minimum wage levels. In case enterprises fail to make adjustments after the deadline, social insurance agencies will temporarily adjust the salaries as the basis for paying social insurance equaling to the minimum wage levels until the enterprises submit the applications for adjustments.

Social insurance agencies shall only confirm the process of SI, UI payment and settle benefits for laborers when enterprises prepare the applications for adjustments to payment rates according to regulations.

Regarding rate of contribution to the Insurance Fund for Occupational Accidents and Diseases, from July 1st, 2022 the policy on reduction in rate of contribution to the Insurance Fund for Occupational Accidents and Diseases to 0% because of effects of Covid-19 under Decision No. 23/2021/QD-TTgstatus2 shall be no longer applied. Thus, enterprises shall return to pay 0.5% as they did so.

Ms Phuong Thao (VietlawOnline.com)
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Published Vietlaw's Newsletter No. 566
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Labour - Employment