HANOI DEPARTMENT OF JUSTICE
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On June 21, 2024, after reviewing the report of the Party Committee of the Ministry of Home Affairs in Report No. 46-TTr/BCSĐ, dated May 31, 2024, accordingly, the Politburo issued conclusion No. 83- KL/TW on salary reform; Adjust pensions, social insurance benefits, preferential benefits for meritorious people and social benefits from July 1, 2024.

Many contents deserve attention in this Conclusion No. 83-KL/TW with the main goal of improving the lives of people receiving salaries and benefits, creating motivation to improve productivity and work efficiency, contributing to socio-economic development of the country, implementation of progress and social justice.

Notably, there is a content directly related to the maximum social insurance salary that is "Adjusting the base salary from 1.8 million VND to 2.34 million VND (an increase of 30%) from July 1, 2024”.

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

maximum-monthly-salary-for-compulsory-social-insurance-from-july-1-2024

Photo 1. Maximum monthly salary for compulsory social insurance from July 1, 2024_ Hotline: 0969760195

So how will the maximum monthly salary for compulsory social insurance from July 1, 2024 be adjusted and changed?

Pursuant to the 2014 Law on Social Insurance and related documents, regulations on the maximum monthly salary for compulsory social insurance payment are as follows:

- For employees subject to the salary regime prescribed by the State, the monthly salary paid for social insurance is the salary according to the rank, grade, military rank and position allowances, excess seniority allowance, career seniority allowance (if any).

For people working part-time in communes, wards or towns, the monthly salary paid for social insurance is the base salary.

- Monthly salary paid for compulsory social insurance does not include other benefits and benefits such as bonuses as prescribed in Labor Code, initiative bonuses; Mid-shift meal; Subsidies for gasoline, telephone, transportation, housing, child care, and child care; Support when employees have relatives who die, employees whose relatives get married, employees' birthdays, allowances for employees in difficult circumstances when suffering from work accidents, occupational diseases and Other supports and allowances are recorded in a separate section in the labor contract specified in Circular No. 10/2020/TT-BLDTBXH.

In case the monthly salary specified above is higher than 20 times the base salary, the monthly salary paid for social insurance is equal to 20 times the base salary.

Accordingly, from July 1, 2024, when the base salary will be increased by 30% from 1.8 million VND to 2.34 million VND, the maximum monthly salary for compulsory social insurance from July 1, 2024 will be increased. calculated by:

2.34 million VND x 20 months = 46.8 million VND

Below is a summary of the maximum salary for all types of insurance and trade union fees applicable from July 1, 2024:

Content

Old level

(from July 1, 2023 to June 30, 2024)

(VND)

New level

(from July 1, 2024)

(VND)

Base salary

1,800,000

2,340,000

Maximum salary for social insurance payment

36,000,000

46,800,000

Maximum salary for health insurance

36,000,000

46,800,000

Maximum salary paid for Union fees

36,000,000

46,800,000

Thus, with the base salary increased by 30% from July 1, 2024, the maximum monthly salary paid for social insurance will also increase to 46,800,000 VND.

=> See more: 06 types of goods and services are allowed to lower prices from July 1, 2024

maximum-monthly-salary-for-compulsory-social-insurance-from-july-1-2024

Photo 2. Free legal advice_ Hotline: 096 976 0195

Socio-Economic Summary Department - TLK Law Company Limited

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