At government meeting on October, Ministry of Labour,War Invalids and Social Affairs proposed reduction by1% the contribution rate into unemployment insurance fund, accidents and occupational diseases fund (corresponding to 5.400 billion VND) in order to support for business stability and create more jobs.
In more detail as follows:
– Reducing by 0,5% the contribution of employers into occupational accidents and diseases insurance fund. Reduction of this contribution rate based on the rate of expenditure/revenue occupies approximately 10% in the recent years. At present, the remaining figure is quite large, corresponding to 26.000 billion VND. In 2015, the estimated revenue is 5.600 billion VND, while the estimated expenditure is approximately 460 billion VND (approximately 8%).
– Reducing by 0,5% the contribution of employer into unemployment insurance fund. Reduction of this contribution rate based on remaining figure of unemployment insurance fund is 48.900 billion VND at the end of 2015. In 2015, the estimated revenue is 9.470 billion VND and expenditure is 4.800 billion VND. In 2015, the rate of expenditure/revenue occupies 50%.
– Reducing by 1% the contribution of employer into unemployment insurance fund will help business to reduce expense and cost of good manufactured, and increase its competitive ability.
