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Overview of Compulsory Insurance System in Vietnam

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Overview of Compulsory Insurance System in Vietnam

Under Vietnam social security system, if an employer signs a labour contract with a Vietnamese employee for more than one month, the compulsory insurances applicable to both employer and employee include: (1) social insurance, (2) health insurance, and (3) unemployment insurance.

The contribution rates for the employer and Vietnamese employee are as follows:

Social insurance

Health Insurance

Unemployment Insurance

Total

Employer

17.5%

3%

1%

21.5%

Employee

8%

1.5%

1%

10.5%

Total

32%


Foreign employees holding a work permit and employed under a Vietnam labour contract with an indefinite term or a definite term of 1 year or more shall participate compulsory social insurance. And foreign employees that are employed under a Vietnam labour contract for at least 3 months shall participate compulsory health insurance. Unemployment insurance currently does not apply to foreign employees.

The current contribution rates for the employer and foreign employee are as follows:

Social insurance

Health Insurance

Unemployment Insurance

Total

Employer

3.5%

3%

Not Applicable

6.5%

Employee

0

1.5%

Not Applicable

1.5%

Total

8%


The contribution rates for the employer and foreign employee from 1 January 2022 are as follows:

Social insurance

Health Insurance

Unemployment Insurance

Total

Employer

17.5%

3%

Not Applicable

20.5%

Employee

8%

1.5%

Not Applicable

9.5%

Total

30%


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