The draft revised Law on Social Insurance (SI) supplements that the minimum salary used as the basis for compulsory SI contributions is equal to half of the highest regional minimum monthly salary announced by the Government.
The Ministry of Justice has just announced the appraisal dossier of the revised Law on Social Insurance drafted by the Ministry of Labor, War Invalids and Social Affairs (MOLISA).
According to the draft law, the Ministry of Labor, Invalids and Social Affairs has received 158 comments from Committees, Ministries, branches, localities, organizations, corporations, companies, and business associations.
Workers of KH Vina Company Limited in Bim Son Industrial Park.
Based on Resolution No. 28, the drafting committee revised the regulation on the basis of social insurance contributions of the business sector to be at least equal to about 70% of the total salary and other income of a salary nature of employees.
Thus, it will overcome the situation of evasion and underpayment of social insurance, affecting the ability to balance the social insurance fund and the rights of employees.
In fact, the average salary used as the basis for compulsory social insurance contributions in 2022 for employees is 5.73 million VND/month, accounting for about 75% of the average income of salaried employees.
Therefore, the Draft Law on Social Insurance amends and supplements the salary used as the basis for compulsory social insurance payment, which is at least half of the highest regional minimum monthly salary announced by the Government. The highest level is 8 times the highest regional minimum monthly salary announced by the Government.
According to the Ministry of Labor, Invalids and Social Affairs, this is the basis for regulating the basis for social insurance contributions for those who do not receive salaries (business owners; business managers, cooperative managers who do not receive salaries; etc.), and is also the basis for determining the responsibility to participate for part-time workers.
The draft law also stipulates more specifically the salary used as the basis for social insurance contributions for employees paying social insurance according to the salary regime decided by the employer.
Accordingly, the salary used as the basis for social insurance contributions is the monthly salary, including salary, salary allowances, and other supplements, paid regularly and stably in each pay period.
On that basis, the Government shall provide detailed regulations to specifically determine the amounts that must be paid and not be paid for compulsory social insurance; the determination of monthly salary as the basis for social insurance payment in cases of agreement to pay wages by hour, day, week and by product or contract.
In addition, the draft law also amends regulations related to public sector salaries in line with the direction of Resolution No. 27.
The 2014 Social Insurance Law stipulates many allowances associated with the "basic salary" such as: allowances for convalescence and health recovery; one-time allowances for childbirth or adoption; funeral allowances; monthly death benefits...
According to the Ministry of Labor, Invalids and Social Affairs, in order to not cause "level" disruption compared to current regulations, and at the same time be consistent with the direction of salary policy reform in Resolution No. 27, the draft law amends the subsidy levels associated with the basic salary in the direction of regulating them in specific amounts.
At the same time, it is also stipulated that these levels will be adjusted when the Government adjusts pensions and social insurance benefits, similar to the adjustment of monthly pensions and social insurance benefits in the recent period.
Previously, the draft revised Law on Social Insurance had solicited opinions on the content of the regulation on salary as the basis for compulsory social insurance contributions with the following two options:
Option 1: The salary used as the basis for social insurance payment is the monthly salary including salary and salary allowances, other additional amounts that can be determined at a specific amount along with the salary agreed upon in the labor contract according to the provisions of labor law.
Option 2: The salary used as the basis for social insurance payment is the monthly salary including salary and salary allowances, and other supplements according to the provisions of labor law.
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