Regulating rates of compulsory insurance contributions

Regulating rates of compulsory insurance contributions to the occupational accident and disease benefit fund.

This is the updated content in Decree No. 58/2020 / ND-CP on the compulsory social insurance premium for occupational accident and disease insurance.

Accordingly, the contribution rate equaling 0.3% of the statutory base payroll shall be applicable to enterprises that satisfy the conditions

– Within three years prior to the submission date, they have not been subject to any administrative monetary fine or any criminal prosecution for their violation against laws on occupational safety, hygiene and social insurance;

– They have submitted periodic reports on workplace accidents, occupational safety and hygiene in an accurate, sufficient and timely manner within three consecutive years prior to the submission year;

– Frequency rate of occupational accidents in the year preceding the submission year must drop by at least 15% of the average frequency of workplace accidents in 3 consecutive years prior to the submission year, or have not had any occupational accident 3 years preceding the submission year.

Decree No. 58/2020/ND-CP comes into force on on Jul 15, 2020

Source: TVPL