We would like to update your company with the latest information on the Social Insurance Law of 2020. Income and allowances that are and are not subject to social insurance contributions in 2020.
1. INCOME SUBJECT TO MANDATORY SOCIAL INSURANCE CONTRIBUTIONS
- Salary
- Position and title allowance
- Responsibility allowance
- Allowance for arduous, hazardous, and dangerous work
- Seniority allowance
- Regional allowance
- Travel allowance
- Attraction allowance
- Allowances of a similar nature
- These additional payments are a specific amount of money determined in conjunction with the agreed-upon salary in the employment contract and are paid regularly during each pay period.
2. INCOME NOT SUBJECT TO MANDATORY SOCIAL INSURANCE CONTRIBUTIONS
- Bonuses as stipulated in Article 103 of the 2012 Labor Code.
- Innovation bonus
- Meal allowance
- Fuel subsidy
- Phone allowance
- Travel allowance
- Housing assistance
- Childcare allowance
- Childcare allowance
- Support for workers whose relatives have died.
- Support for employees whose relatives get married.
- Support for employees' birthdays.
- Compensation for workers facing hardship due to work-related accidents.
- Compensation for workers facing hardship due to occupational diseases.
- Other allowances and subsidies shall be recorded as separate items in the labor contract in accordance with Clause 11, Article 4 of Decree 05/2015/ND-CP.
We wish your business success in calculating all allowances and income subject to and excluding social insurance contributions for 2020 – in compliance with social insurance laws!
