Employers obliged to pay social insurance for employees

The new regulation is stipulated in Decree 86/2010/NĐ-CP of the Government.

Besides the fines, violators will have to hand in the interest from their overdue payments of social insurance within 30 days since the penalty is decided. 

On the other hand, employees will be fired VND 1-5 million for using false social insurance records.

According to the decree, the mismanagement and misuse of social insurance funds will be fired VND 10-15 million instead of the previous rates of VND 1-10  million.

The decree will take effect on October 1, 2010 and not be valid for any infringement relating to health insurance, deposit insurance, and business insurance./.

By Kim Anh