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blue-check From 2022: Social insurance contribution rate of foreign employee shall be 30%

Notice No. 4447/TB-BHXH date December 22nd, 2021 of Ho Chi Minh city regarding social insurance contribution rate with regard to foreigners and voluntary social insurance from January 1st, 2022
Posted: 23/12/2021 10:50:14 AM | Latest updated: 25/12/2021 11:21:20 AM (GMT+7) | LuatVietnam: 5361 | Vietlaw: 541
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According to the roadmap for gradually increasing social insurance contribution rates of foreign employee as regulated at clause 1 Article 12 and clause 1 Article 13 of Decree No. 143/2018/ND-CPstatus2 , the social insurance contribution rate from 2022 shall be increased to 22% (in which it shall be increased to 14% at the employer side and 8% at the employee side). The total insurance contribution rate of social insurance, health insurance and occupational accident and occupational disease insurance is 30%. In which, the contribution rate at the employee side is 20.5% (including: 3% paid into health insurance; 3% paid into the sickness and parental insurance benefit fund; 0.5% paid into the occupational accident and disease benefit fund and 14% paid into the retirement and death insurance benefit fund. The foreign employee shall pay 9.5% (including 1.5% paid into health insurance and 8% paid into the retirement and death insurance benefit fund).

The minimum monthly salary on which compulsory social insurance contribution is based shall equal the regional minimum salary rates and the maximum social insurance contribution rate shall be equal 20 times of the basic salary level at the time of payment.

Ms Phuong Thao (VietlawOnline.com)
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Published Vietlaw's Newsletter No. 541
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