Expiry monthly social insurance payment for businesses

Hanoi Social Insurance answers:

Pursuant to the provisions of Clause 1, Article 7 of the Procedure for collecting social insurance (SI), health insurance (HI), unemployment insurance (UI), occupational accident and disease insurance (UI, UB); management of social insurance books, health insurance cards issued with Consolidated Document No. 2525/VBHN-BHXH dated August 15, 2023 of Vietnam Social Insurance guides the method of social insurance payment as follows:

Every month, no later than the last day of the month, the unit will deduct the compulsory social insurance payment from the monthly salary fund of employees participating in compulsory social insurance, and at the same time deduct from the monthly salary for compulsory social insurance payment of each employee according to the prescribed level, transfer at the same time to the specialized account of the social insurance agency opened at a bank or the State Treasury.

In case the unit is an enterprise, cooperative, individual business household, or cooperative operating in the fields of agriculture, forestry, fishery, and forestry, paying salaries according to products, according to the contract, it must register the monthly payment method, 3 or 6 months at once with the Social Insurance agency; the Social Insurance agency coordinates with the labor agency at the unit before deciding on the payment method of the unit. No later than the last day of the payment method, the unit must transfer all the money to the social insurance fund.

Thus, the enterprise is responsible for transferring the monthly social insurance payment that the employee has deducted along with the employer's payment according to the prescribed percentage to the social insurance agency to receive the social insurance regime in a timely manner.

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