The government has issued a decree No. 143/2018/ND-CP defining details of the Law on Social Insurance regarding compulsory social insurance for foreign employees...
The government has issued a decree No. 143/2018/ND-CP defining details of the Law on Social Insurance regarding compulsory social insurance for foreign employees in Vietnam.
Accordingly, the new decree will be applied to foreigners who are granted work permits by competent Vietnam authorities under indefinite-term labor contracts or 1-year contracts. The compulsory social insurance covers sickness, maternity, occupational accidents, occupational diseases, retirement and death.
From January 1, 2022, foreign employees will have to pay a monthly premium of 8% of their income to the retirement and death fund. Employers of foreign workers are required to pay 3.5% of an employee’s monthly salary, including 3% to a sickness and maternity fund and 0.5% to cover occupational diseases or accidents.
The decree will come into effect on December 1, 2018.
Phu An
Translated by N.T
