Hanoi Social Insurance Authority has just issued a Dispatch Letter No.5251/BHXH-QLT 2018 dated 3rd December 2018, temporarily guiding on Compulsory Insurance under the Decree No. 143/2018/ND-CP.
Accordingly, from 1st December 2018, foreign employees having been granted Work Permit/ Practice License and entered into Employment Contract with definite term of 1 year upward or indefinite term shall join compulsory social insurance.
Foreign employee working in Vietnam under the form of internal transfer and/or reaching ages for retirement shall not be required to join compulsory social insurance.
From 1st December 2018, employer shall pay:
+ 3% of payroll into the sickness and parental insurance benefit fund.
+ 0.5% of payroll into the occupational accident and disease benefit fund;
From 1st January 2022:
Epmployer shall pay:
+ 3% of payroll into the sickness and parental insurance benefit fund.
+ 0.5% of payroll into the occupational accident and disease benefit fund;
+ 14% of payroll into the retirement and dead benefit fund;
Employee shall pay 8% of payroll into the retirement and dead benefit fund.
