Compulsory social insurance for expats to go ahead despite firms’ concernsVietNamNet Bridge – A controversial rule requiring foreign workers in Vietnam to make social insurance payments is likely to be put into practice soon, several months after the Government’s issuance of a decree to implement the new provision of the Law on Social Insurance 2014, which came into effect on January 1 this year. Meanwhile, all of them already pay social insurance in their home country. Cost increaseMany foreign enterprises, however, have complained that compulsory social insurance for foreign workers will increase employment costs for enterprises, especially those who have a large number of foreign workers. “Until now, enterprises using foreign workers have already enjoyed certain preferential policies in terms of tax and social insurance,” he said. The implementation of regulation, however, faces a tough road ahead, given the fact that a large number of enterprises have already evaded paying social insurance for their Vietnamese employees, leaving a social insurance debt of trillions of dong.


Source:   VietNamNet News
April 02, 2018 08:03 UTC