According to point 1 of this Official letter, from July 1st, 2019, the following entities for whom SI premiums shall be increased according to the basic wage level of VND 1,490,000/month:
- Employees to whom the basis wage level of VND 1,490,000/month is applied to calculate salary, allowances;
- Vietnamese guest workers but before they work abroad they have participated in SI for a period and paid SI premiums under the salary regime regulated by the State or have not yet participated in compulsory SI or participated in compulsory SI but they have received lump sum SI payment;
- Full-time responsible managers, Party Committee Secretaries, Party Committee deputy secretaries, Unions’ presidents at companies of which 100% charter capital is held by the State that participate in social insurance according to the pay factors stipulated in Decree No. 52/2016/ND-CP;
From July 1st, 2019, the highest monthly incomes on which voluntary SI premiums are based is 29,800,000 VND (VND 1,490,000/month multiplied by 20 times of the basic wage level).
With regard to group of entities for whom HI premiums, based on the basic wage level, are paid, supported by the State budget and group of entities that participate in health insurance in the form of household, from July 1st, 2019, the HI premiums shall be increased according to the basic wage level of VND 1,490,000/month.
|Published||Vietlaw's Newsletter No. 424|