SOME REMARKABLE INFORMATION ON SALARY IN 2012

A. The new payment rate for Social Insurance shall be applied from January 1st , 2012

Time

The employer

(%)

The Employee (%)

Social insurance Health insurance Unemployment insurance Social insurance Health insurance Unemployment insurance
From 01/2012 to 12/2013

17

3

1

7

1,5

1

From 01/2014 forward

18

3

1

8

1,5

1

 

On November 10th, 2011, National Assembly approved the 2012 National Budget, in which the minimum wage for year of 2012 should be VND 1,050,000 per month, VND 220,000 over the current minimum wage is VND 830,000 per month. This also means that the maximum wage rate for paying into Social Insurance, Health Insurance and Unemployment Insurance will increase up to VND 21,000,000 from current one of VND 16,600,000.

B. The new regional minimum wages take an affect from October 31st, 2011 to December 31, 2012 shall be applied for both Foreign Invested and Domestic Enterprises.

Region

New minimum wage applying from October 31, 2011 to December 31, 2012

(VND/month)

The current minimum wage in Foreign Invested Enterprises

(VND/month)

The current minimum wage in Domestic Enterprises

(VND/month)

I

2,000,000

1,550,000

1,350,000

II

1,780,000

1,350,000

1,200,000

III

1,550,000

1,170,000

1,050,000

IV

1,400,000

1,100,000

830,000

 

 

 

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