New rate for Social Insurance contribution from 01/01/2014

December 22, 2013

Enterprise Employers and Staff in Vietnam
Please be informed that Vietnam Social Department already issued the official letter ( effective from 01 Jan 2014) to increase the rate for Social Insurance ( SI) contribution from 24 % ( ER 17%+ EE 7% ) to 28 % ( ER 18% + EE 8%), there is no change on the rate contribution for Medical Insurance ( MI) and Unemployment Insurance ( UI ).
Therefore , from 01 Jan 2014 the rate contribution for SI, MI, UI as follows

Monthly SIMIUI contribution rate SI MI UI Total
Employer contribution 18% 3% 1% 22%
Employee contribution 8% 1.5% 1% 10.5%

The Cap monthly salary for SIMIUI contribution currently is 23,000,000VND
Here is a link to our resource page with the official letter (in Vietnamese) for local staff.

Sincerely,
Neil Satterwhite
Founder & CEO, Tiger-Consulting

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