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COMPULSORY INSURANCES IN VIET NAM 2020

January 8, 2020 | News

According to the Law of compulsory Insurance in Viet Nam, the employer and employee have to contribute to compulsory insurance funds

There are differences in the percentage of contributions between the foreign employees and Vietnamese employees as following:

Vietnamese Employees:

- Employer: 23.5%, including: 17.5% for the fund of social insurance; 1% for the fund of unemployment insurances; 3% for the fund of health insurances and 2% for the fund of trade union fees.

- Employee: 10.5%, including: 8% for the fund of social insurance; 1% for the fund of unemployment insurances; 1% for the fund of health insurances;

The total will be 34%.

Foreign Employees:

- Employer: 8.5%, including: 3.5% for the fund of social insurance; 3% for the fund of health insurances and 2% for the fund of trade union fees.

- Employee: 1.5% for the fund of health insurances;

The total will be 10%.

From 01 January 22 onwards: the contribution rates imposed on both employers and foreign employees will be the same as those applicable to Vietnamese employees.

- Employer: 23.5%, including: 17.5% for the fund of social insurance; 1% for the fund of unemployment insurances; 3% for the fund of health insurances and 2% for the fund of trade union fees.

- Employee: 10.5%, including: 8% for the fund of social insurance; 1% for the fund of unemployment insurances; 1% for the fund of health insurances;

 

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