Salary based for Social Insurance Contribution from 1 July 2024 [UPDATED]
[Update | Being effective from 1 July 2024]
Compulsory Social Insurance Contribution
Once the employment is engaged, both employer and employee are required to contribute Social Insurance (SI), Health Insurance (HI) and Unemployment Insurance (UI) on monthly basis. The Company registers SHUI unit code for SHUI contribution
Foreign labor is required to contribute SHUI under separate SHUI unit code.
Threshold for Social Insurance (SI) & Health Insurance (HI) contribution
SI & HI contribution are capped at 20 times of basic salary.
From 1 July 2024, pursuant to Decree 73/2024/ND-CP, the basic salary increases to VND2,340,000. As a result, threshold for SI & HI contribution from 1 July 2024 is VND46,800,000 (VND2,340,000 * 20) (equivalent to USD 1,850)
Threshold for Unemployment Insurance (UI) contribution
UI contribution is capped at 20 times of regional minimum salary
From 1 July 2024, pursuant to Decree 74/2024/ND-CP, regional minimum salary of Vietnam is:
| Region | Minimum salary (VND) per month | UI threshold |
| #1 | VND 4,960,000 (USD 200) | VND 99,200,000 (USD 3,968) |
| #2 | VND 4,410,000 (USD 175) | VND 88,200,000 (USD 3,528) |
| #3 | VND 3,860,000 (USD 154) | USD 77,200,000 (USD 3,088) |
| #4 | VND 3,450,000 (USD 138) | VND 69,000,000 (USD 2,760) |
Region #1 includes the metropolis cities such as: Ho Chi Minh, Hanoi, Binh Duong, Hai Phong etc.
