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DETAIL GUIDANCE ON SUSPENSION OF SOCIAL INSURANCE CONTRIBUTIONS BY ENTITIES AFFECTED BY COVID-19

DETAIL GUIDANCE ON SUSPENSION OF SOCIAL INSURANCE CONTRIBUTIONS BY ENTITIES AFFECTED BY COVID-19

VIVA BUSINESS CONSULTING là công ty tư vấn doanh nghiệp được tín nhiệm bởi hằng ngàn khách hàng danh tiếng từ năm 2006. VIVA cung cấp nền tảng quản lý toàn diện và nguồn lực thực thi theo cách kết hợp đồng thời của: Luật pháp và thủ tục hành chính trong kinh doanh – Quản lý thuế và kế toán – Quản trị quan hệ lao động – Quản trị tài chính doanh nghiệp – Quản trị và kiểm soát nội bộ. Năng lực của chúng tôi giúp khách hàng lường trước các rủi ro, tối ưu chi phí, kiến tạo lợi thế kinh doanh.

VIVA is a business consulting company, specializes in business compliance procedures according to local business laws and regulations since 2006. VIVA has been continuously trusted by thousands of well-known clients since 2006. We are creating added value for clients by offering one-stop business platform with exclusive and tailored-made services related to market entry and mandatory business compliances. We keep our client’s good standing in lawful and optimal manners whenever they are working and doing business in Vietnam.

detail guidance on suspension of social insurance contributions by entities affected by covid-19

Aimed at supporting enterprises badly affected by COVID-19 epidemic to create favorable conditions for quickly overcoming difficulties, Inter-sectoral social insurance agencies, Department of Labor, War Invalids and Social Affairs and Hanoi Department of Finance provided detail guidance on suspension of social insurance contributions by entities affected by COVID-19.

SUBJECTS OF APPLICATION

Subjects of application are employers collectively referred to as enterprises that are facing difficulties caused by the COVID-19 epidemic, resulting in an inability to arrange jobs for workers. In particular, the number of employees participating in compulsory social insurance and taking temporary leave accounts for 50% or more of the total number of present employees before the suspension of production and business; or enterprises suffer losses of more than 50% of the total value of assets caused by the epidemic.

DURATION OF THE POLICY APPLICATION

  • Starting from the month that the enterprises propose and submit full documents to the social insurance agency until June 2020.
  • In the case that by the end of June 2020, the COVID-19 epidemic has not been relieved, if it is needed and requested by enterprises, it may be considered and settled to suspend the payment to the retirement and survivorship fund until December 2020.

REQUIRED PROCEDURES

Step 1: determine the number of employees participating in the social insurance who temporarily leaves their jobs or dossiers of the value of damaged properties

  • For enterprises with the number of employees participating in compulsory social insurance and taking temporary leave accounts for 50% or more of the total number of present employees before the suspension of production and business, shall compile dossiers enclosed a list of employees at the time before suspending production and business and at the time of request; The list of employees participating social insurance must temporarily leave their jobs.
  • For enterprises with enterprises suffer more than 50% of the total value of assets, shall compile a dossier enclosed with the latest minutes of inventory of duly before the time of being damaged; Minutes of inventory of damaged assets due to disease.

Within 15 working days after receiving the enterprise’s request, the Department of Labor, War Invalids and Social Affairs, the Department of Finance will consider, identify and reply in written dossiers to the Enterprises.

Step 2: Apply for suspension of insurance payment

Send a written dossiers request for temporary suspension of payment of insurance enclosed with a certificate of labor reduction or assets damaged to the Department of Labor, War Invalids and Social Affairs, Department of Finance.

Within 05 working days from the receipt of the enterprise’s application, the Social Insurance Agency is responsible for settling the suspension of retirement and survivorship fund contributions; In case of failure, the agency must reply in written dossiers and clearly state the reason.

REQUIRED DOSSIERS

  • Official letter requesting for confirmation of eligibility for suspension of retirement and survivorship fund (form 01a, form 01.b).
  • List of employees present and the list of employees who are participating in social insurance and must temporarily take leave (form No. 02a).
  • The latest inventory of assets reports before the time of being damaged (form No. 02.b).
  • Minutes of inventory of damaged assets due to disease (Form No. 02.c).
  • Relevant documents for comparison include a copy of the enterprise registration certificate; originals (or copies) of papers related to the business suspension of production and business; timesheets, payroll at the time before suspending production and business and at the time of the written official request; papers related to employees temporarily resigning (agreement to postpone employment contract, agreement on unpaid leave, severance allowance …).

ABOUT VIVA BUSINESS CONSULTING

VIVA is the local expertise for local business compliance procedures, has been trusted by thousands of foreign investors, multinational companies from Europe, Japan, Singapore, India, Korea, USA… for the required business compliance procedures by local laws and regulations since 2006.

Thanks for consistent of practice expertise in Business laws - Employment relations – Tax and accounting – Corporate finance – Corporate services,  VIVA has been successfully providing service for thousands of leading companies in such industries: Garment, energy, pharma, advertising, agricultural…

VIVA keeps its signature by offering one-stop business platform with regard to market entry and the mandatory business compliances. We ensure for our client’s good standing, in lawful and optimal manners whenever they are working and doing business in Vietnam.

 

VIVA not only manage business required procedures by laws but firstly places client’s compliance and good standing, in the optimal methods when offering any solution, and integrated with our intensive resources that allow us to prevent most of the risks in advance, create more benefits, advantages and business inspiration for entrepreneurs.

The insights and consistent backgrounds in Business Laws – Accounting and Corporate Finance – Tax Management – Labor Relations and Payroll – Serectarial and consistent with our exclusive standard operation processes, consisting of consultation – implementation – pratice operation help us fully protect client interests as one-stop solution.

YOU WILL RECEIVE

“If you ask any successful businessperson, they will always have had a great mentor at some point along the road.”

 

 

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