From June 01st, 2017: Reducing of 0,5% of labour accident and occupational disease insurance premium rate

Date modify: 04-25-2017
This content was proposed in the Decree No.44/2017/ND-CP regulated the compulsory social insurance premium rate which was issued by the Government and takes effectives from June 01st, 2017.

According to regulations in the Decree, the employers monthly pay into the labour accident and occupational diseases insurance fund in accordance with the Clause 3 Article 44 of the Law on Labour Safety and Hygiene with the rate as follow:

According to this Decree, from June 1st, 2017, enterprises shall only pay occupational accident and occupational disease insurance premiums at the rate of 0.5% of salary fund which is used as the basis for paying social insurance premiums for employees instead of 1% (under Clause 1 Article 4 of Decree No. 37/2016/ND-CP).

Entities subject to the occupational accident and occupational disease insurance are all labour contracts with a term of full 3 months or longer. For labour contracts with a term of between full of 01 month and less than 03 months, the contribution to the occupational accident and occupational disease insurance shall be compulsory from January 1st, 2018.

The Government shall consider adjusting the aforesaid premium rate from January 1st, 2020, based on the capacity for balancing the insurance Fund for occupational accidents and occupational diseases.

This Decree takes effect from June 1st, 2017. The regulations in Article 4 and Clause 1 Article 34 of Decree No. 37/2016/ND-CPstatus2 dated May 15th, 2016 shall be expired as from the effective date of this Decree.

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