Question: What are major regulations in the regimes of compulsory social insurance, applicable regulations on compulsory social insurance, contribution rate?
Answer:
Foreign employees who work in Viet Nam and are subject to compulsory social insurance must participate in all the regimes of compulsory social insurance
Foreigners who work in Viet Nam and satisfy the following two conditions must participate in the regimes of compulsory social insurance, including those regarding illness, maternity, labor accident and occupational disease, retirement and death:
- Possession of work permits, practicing certificates or practicing licenses issued by competent Vietnamese agencies; and
- Possession of indefinite-term labor contracts or definite-term labor contracts of at least full 1 year with Vietnamese employers.
Foreign employees are not required to participate in compulsory social insurance when they are seconded internally or have reached the age of retirement as prescribed in the 2012 Labor Code.
Foreign employees will participate in the regimes of compulsory social insurance in accordance with the applicable regulations on compulsory social insurance
The conditions for enjoying the regimes of illness, maternity and death with respect to foreign employees working in Viet Nam will be governed by the Law on Social Insurance.
The conditions for enjoying the regimes of labor accident and occupational disease insurance will be governed by the Law on Labor Safety and Hygiene.
Foreign employees will be entitled to pensions when they satisfy as prescribed by the Law on Social Insurance and Decree 115/2015/NĐ-CP on compulsory social insurance./.
(Source:VGP)
