HANOI DEPARTMENT OF JUSTICE
TLK LAW FIRM

On June 30, the Government issued Decree No. 74/2024/ND-CP stipulating the minimum monthly salary for employees working under labor contracts. Additionally, according to Decision No. 595/QD-BHXH in the year 2017: "The basic monthly salary for compulsory social insurance contribution specified in this Clause shall not be lower than the minimum monthly salary by region at the time of contribution for employees performing the simplest jobs or titles under normal working conditions." Accordingly, the adjustment of the minimum monthly salary by region will change the basic monthly salary for compulsory social insurance contribution for employees from July 1, 2024.

=> See more: What types of allowances are there in the new salary regime from july 1,2024  

On June 30, the Government issued Decree No. 74/2024/ND-CP stipulating the minimum monthly salary for employees working under labor contracts. Additionally, according to Decision No. 595/QD-BHXH in the year 2017

Photo 1. Increase in Minimum Monthly Salary by Region, Basic Monthly Salary for Compulsory Social Insurance Contribution from July 1, 2024 _ Hotline: 0969760195

Pursuant to the provisions of Decree No. 74/2024/ND-CP, the new minimum monthly salary by region for employees, applicable from July 1, 2024, is specified as follows:

 

Region

 The Basic Monthly Salary

(Unit: Vnd/month)

The Basic Hour Salary

(Unit: Vnd/hour)

Region I

4.960.000

23.800

Region II

4.410.000

21.200

Region III

3.860.000

18.600

Region IV

3.450.000

16.600

Additionally, according to Decision No. 595/QD-BHXH of 2017, the basic monthly salary for compulsory social insurance contribution shall not be lower than the minimum monthly salary by region at the time of contribution for employees performing the simplest jobs or titles under normal working conditions. 

Accordingly, if the minimum monthly and hourly salaries for employees working for employers by region increase by 6%, the basic monthly salary for compulsory social insurance contribution from July 1, 2024, is:

 

Region

The Basic Salary for Compulsory Social Insurance Contribution

(Unit: Vnd)

Region I

4.960.000

Region II

4.410.000

Region III

3.860.000

Region IV

3.450.000

Thus, from July 1, 2024, when the minimum monthly salary and minimum hourly salary for employees working for employers by region increase by 6%, ranging from 200,000 to 280,000 VND/month compared to the current salary, the basic monthly salary for compulsory social insurance contribution will be adjusted to not be lower than the minimum monthly salary by region.

=> See more: Increase regional minimum wage in 2024 by 6% from July 1, 2024? What is the highest regional minimum wage?  

On June 30, the Government issued Decree No. 74/2024/ND-CP stipulating the minimum monthly salary for employees working under labor contracts. Additionally, according to Decision No. 595/QD-BHXH in the year 2017

Photo 2. Free legal advice _ Hotline: 097 211 8764

Socio-Economic Summary Department - TLK Law Company Limited

According to thuvienphapluat.vn

Dear readers, TLK Law Company Limited, in addition to providing readers with useful intellectual information about economic, cultural and social life, we are also an organization providing legal services; Professional accounting - tax and trade promotion with many years of experience.

With the desire to fulfill social responsibility, if readers need advice on issues related to the Law, please contact us at hotline: 097 211 8764 to get advice from a lawyer. Direct consultation (completely free consultation).

WRITE YOUR COMMENT:

CONTACT SERVICE PROVIDER (Please click the button below to select service package)

LEGAL CONSULTATION PROGRAM

VIEW MORE

OUT STANDING SERVICES THAT TLK PROVIDES

NEW POSTS

WHAT ARE FORMS OF INVESTMENT UNDER CURRENT VIETNAMESE LAW?

WHAT ARE FORMS OF INVESTMENT UNDER CURRENT VIETNAMESE LAW?

How many forms of investment does the law of Vietnam stipulate? Specifically, what are types of investments?

KNOWLEDGE – ENTERTAINMENT

TLK LAW FIRM
Operation license No: 01021852/TP/DKHĐ issued by Hanoi Department of Justice
Legal Consulting Call Center 24/7
CALL NOW: +84 97 211 8764
For benefis of community - Free Consulting
NUMBER OF VISIT
Total hits: 3,024,058
Views of the day: 15.858
Watching: 126
popup

Số lượng:

Tổng tiền:

zalo