According to this Decree, enterprises will be recommended to have access to the lower rates of social insurance contribution than the ordinary rates (i.e. only paying 0.3% of the payroll as a basis for contribution to social insurance, instead of 0.5%) if they meet the following requirements:
- They are those operating in industries and sectors facing high occupational accident and disease risks;
- Within three consecutive years prior to the year of recommendation, they have not been subject to any monetary fines or criminal prosecution related to occupational safety, hygiene and social insurance;
- They have submitted periodic reports on occupational accidents, safety and hygiene in an accurate, sufficient and timely manner within three consecutive years prior to the year of recommendation;
- Frequency rate of occupational accidents in the year preceding the year of recommendation must drop by at least 15% of the average frequency rate in 3 consecutive years prior to the year of recommendation, or have not had any occupational accident 3 years preceding the year of recommendation.
Decree No. 58/2020/ND-CP is entering into force on July 15, 2020.
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