Vietnam: End of support period for unemployment insurance contribution rate according to Resolution 116/NQ-CP

ADK Lawyers

17th October 2022

Previously, on 24 September 2021, the Government issued Resolution 116/NQ-CP on policies to support employers affected by the COVID-19 pandemic from the Unemployment Insurance Fund. The support period according to the Resolution has expired since 01 October 2022

Previously, on 24 September 2021, the Government issued Resolution 116/NQ-CP on policies to support employers affected by the COVID-19 pandemic from the Unemployment Insurance Fund (hereinafter referred to as “Resolution”). Accordingly, the employer is entitled to reduce the contribution rate from 1% to 0% of the monthly salary fund of employees who are subject to unemployment insurance (hereinafter referred to as “UI”).

Specifically, the condition to benefit the above support is the employers (except State Agencies, political organizations, socio-political organizations, units of people’s armed forces and public service delivery units whose recurrent expenditures are financed by the state budget) who are participating in UI before 01 October 2021 and the execution timeline is 12 (twelve) months, from 01 October 2021 to 30 September 2022.

Therefore, the such support period according to the Resolution has expired since 01 October 2022. Currently, the employer's contribution rate shall return to 1% of the monthly salary fund of the employees who are subject to UI participation in the unit.

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