National

VND30 trln from unemployment insurance fund to be given to Covid-hit employers

VNA

National Assembly (NA) Chairman Vuong Dinh Hue has signed a resolution on the provision of support to labourers and employers affected by Covid-19 using the unemployment insurance fund.
VND30 trln from unemployment insurance fund to be given to Covid-hit employers ảnh 1 Illustrative image (Source: VNA)
National Assembly (NA) Chairman Vuong Dinh Hue has signed a resolution on the provision of support to labourers and employers affected by Covid-19 using the unemployment insurance fund.
Under Resolution No. 03/2021/UBTVQH15, about VND30 trillion (US$1.31 billion) from the fund will be used to support labourers who are covered by unemployment insurance as of September 30, 2021, excluding employees in State agencies, socio-political organisations, people’s armed forces and public non-business agencies who are paid by the State budget.

Labourers who have stopped paying unemployment insurance due to the termination of their labour contracts or working contracts between January 1, 2020 and September 30, 2021, and have unemployment insurance premium payment period reserved in accordance with the employment law, are also eligible for the support, excluding retirees who receive monthly pensions.

The support will be delivered from October 1 and scheduled to complete on September 31 at the latest.

The resolution clarifies that employers, excepting State agencies, socio-political organisations, people’s armed forces and public non-business agencies funded by State budget, who are joining unemployment insurance before October 1, 2021, will have their premiums reduced from 1 percent of their wage funds to zero percent for a duration of 12 months from October 1.

The detail beneficiary will be regulated by the Government, along with directions on the implementation of the policies in a timely, effective and transparent manner.

The resolution took effect on September 24.

On September 24, the Government issued Resolution No. 116/NQ-CP detailing support policies for labourers and employers impacted by Covid-19, using the unemployment insurance fund.

Specifically, different levels of assistance from VND1.8 million (US$79) to VND3.3 million (US$144.8) will be given to each labourer depending on the time they has paid unemployment premium.

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