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Using the regional minimum wage to pay social insurance helps workers ensure their legal rights and enjoy basic insurance benefits. Applying this salary not only helps reduce the financial burden on employers but also protects the rights of employees in case of sick leave, maternity leave or job loss. The following article will provide information about cases where the regional minimum wage can be used to pay social insurance.
According to Article 3 of Decree 74/2024/ND-CP regulating regional minimum wages applicable from July 1, 2024. The regional minimum wage is divided into 4 regions with the highest level being 4,960,000 VND/month. Zoning is based on the socio-economic development conditions of each locality.
The regional minimum wage is specifically regulated as follows:
The regional minimum wage applies to employees working under labor contracts according to the provisions of the Labor Code. Enterprises must ensure that the salary paid to employees is not lower than the regional minimum wage.
According to Article 85 of the Law on Social Insurance 2008, amended and supplemented in 2014, employees must pay mandatory social insurance payments as follows:
The monthly salary as a basis for social insurance payment is not lower than the regional minimum salary.
Employers are responsible for paying:
The employer makes monthly contributions to the employee’s social insurance salary fund specified in Points a, b, c, d, đ and h, Clause 1, Article 2 of the Law on Social Insurance 2008, amended and supplemented in 2014 as follows:
Reference content: Article 86 of the Law on Social Insurance 2008, amended and supplemented in 2014.
According to Decision 595/QD-BHXH in 2017, cases where the regional minimum wage can be used to pay social insurance include:
The social insurance premium must not be lower than the regional minimum wage at the time of payment, applicable to both employees and employers.
Long Phan provides social insurance consulting services including:
Long Phan’s team of experts will assist customers in determining the exact level of social insurance contributions by region and solving problems that arise during the process of participating in social insurance. For detailed advice on cases of applying the regional minimum wage to pay social insurance and to answer questions about the social insurance regime, please contact Long Phan via the hotline: 0906735386 to receive the most timely and effective support.
Note: The content of the articles published on the website of Long Phan Investment Consulting Company is for reference only regarding the application of legal policies. Depending on the time, subject, and amendments, supplements, and replacements of legal policies and legal documents, the consulting content may no longer be appropriate for the situation you are facing or need legal advice on. In case you need specific and in-depth advice according to each case or incident, please contact us through the methods below. With our enthusiasm and dedication, we believe that Long Phan will be a reliable solution provider for our clients.
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