The Circular No. 58/2015/TT-BLDTBXH issued by the Ministry of Labor, War Invalids and Social Affairs on December 29, 2015 guiding the adjustment rate of salaries and monthly incomes for which the social insurance premiums have been paid.
In accordance with this Circular, the monthly salaries for which social insurance premiums have been paid of the entities shall be adjusted by formula: Monthly salaries for which social insurance premiums have been paid after annual adjustment equal Total salaries of month for which social insurance premiums have been paid upon the employer’s decision in each year multiplied by Adjustment rate of salaries for which social insurance premiums have been paid in corresponding year. As for the workers who have both period of paying social insurance premiums as entities enforcing the scheme of salaries prescribed by the State and period of paying social insurance premiums under the salary scheme decided by employers, the monthly salaries for which social insurance premiums have been paid upon the salary scheme decided by employers shall be adjusted.
The monthly incomes for which social insurance premiums have been paid of the entities shall be adjusted by the formula such as monthly incomes for which the voluntary social insurance premiums have been paid after annual adjustment equals total incomes of month for which social insurance premiums have been paid in each year multiplied by adjustment rate of monthly incomes for which social insurance premiums have been paid in corresponding year.
In which, the adjustment rate of monthly incomes for which social insurance premiums have been paid in respective year shall be 1.01 in 2014, 1.00 in 2015 and 1.00 in 2016. As for the workers who have both period of paying compulsory social insurance and period of paying voluntary social insurance, the monthly incomes for which voluntary social insurance premiums have been paid shall be adjusted.
This Circular takes effect on February 15, 2016; the provisions of this Circular shall apply on January 01, 2016.
