National

318 enterprises allowed to suspend social insurance contribution

SGGP
Due to the long-lasting and repeated Covid-19 pandemic, the local enterprises is facing difficulties in turnover, salary payment for labors and social insurance contribution. 

(Illustrative photo:SGGP)

(Illustrative photo:SGGP)

Although the Covid-19 has impacted on the country’s economy, enterprises tried their best not to cut off labors and salary; however, the expenses being applied to tax and social insurance contributions are difficulties.

According to Director of Ho Chi Minh City Social Insurance Agency Phan Van Men, the enterprises and businesses having difficulties due to the Covid-19 could refer to directions of the Ministry of Labor - Invalids and Social Affairs, the Municipal Department of Labor - Invalids and Social Affairs and the Municipal Social Insurance Agency to submit documents of suspending social insurance contribution for retirement or death benefit fund.

The Ho Chi Minh City Social Insurance Agency will solve the suspension after receiving appropriate documents from enterprises according to the regulation. 

Up to now, the agency has settled the suspension of social insurance contribution for 318 enterprises equaling 32,400 employees with the total amount of VND392 billion (nearly US$17 million).

The Ministry of Labor - Invalids and Social Affairs has just allowed the Vietnam Social Insurance Agency to extend the suspension for retirement or death benefit fund by the end of the year.

Besides that, the Municipal Department of Labor - Invalids and Social Affairs and the HCMC Social Insurance Agency decided to suspend the inter-sector inspections to overcome the enterprises’ difficulties due to the pandemic. 

The inspection would be performed in case of the businesses violate the regulations.

By staff writer- Translated by Huyen Huong

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