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Guidance On Suspension Of Social Insurance Contributions By Entities Affected By Covid-19

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.

Suspension of social insurance

On March 17, 2020, Social Security Administration of Vietnam issued Official letter No. 860/BHXH-BT providing guidance on the suspension of social insurance contributions by entities affected by COVID-19.

Suspension of social insurance
Suspension of social insurance | COVID-19 in Vietnam latest news

 

Suspension of social insurance contributions (pension and death benefit funds) by entities affected by COVID-19 until the end of June or December 2020 without charging late payment interest, only applied for enterprises that operate in passenger transport, hospitality, food and drink, and other business lines affected by the pandemic and:

  • Have to lay off employees, including at least 50% of the total number of employees who have social insurance.
  • Or lose more than 50% of total assets.

The Enterprises remain to fully pay contributions to sickness, maternity, occupational accident, occupational disease, health insurance, unemployment insurance.

It means that not all but only for enterprises that operate in some specific industries that directly affected by COVID-19 and shall prove for the damages and loss can be applied the policy of suspension of social insurance contributions.

 

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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