Headlines 21/04/2017 14:30 CH

Employer social security contribution rates drop from June 1, 2017

Quý Tân

This is one of the contents in the Decree No. 44/2017/ND-CP specifying compulsory social security contribution rates paid into the fund for occupational accident and disease insurance covers.

This is one of the contents in the Decree No. 44/2017/ND-CP specifying compulsory social security contribution rates paid into the fund for occupational accident and disease insurance covers. 

Pursuant to this Decree, the monthly contribution rates paid into the fund for occupational accident and disease insurance covers by employers shall be subject to the following amendments:

- Drop from 1% to 0.5% in the payroll used as the basis for employee’s social security contribution which is prescribed in subparagraphs a, b, c, d, dd and h paragraph 1 Article 2 of the 2014 Law on Social Security (except for domestic assistants).

- Drop from 1% to 0.5% in the employee’s base pay as prescribed in subparagraph e paragraph 1 Article 2 of the 2014 Law on Social Security.

Employees working under an employment contract of which the term varies from 01 month to under 03 months, shall be subject to the aforesaid regulations from January 1, 2018.

The Decree No. 44/2017/ND-CP enters into force from June 1, 2017.

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