Decree No. 58/2020/ND-CP dated May 27th, 2020 of the Government on regulating rates of compulsory insurance contributions to the occupational accident and disease benefit fund.
The rate of compulsory insurance contribution to the occupational accident and disease benefit fund shall be remained at 0.5% (under Decree No. 44/2017/ND-CPstatus3 ) or it shall be reduced to 0.3% if enterprises fully meet 3 conditions below within 3 consecutive years:
- They have not been subject to fines for their administrative violations against laws on occupational safety, hygiene and social insurance.
- They have submitted periodic reports on workplace accidents, occupational safety and hygiene in an accurate, sufficient and timely manner.
- They have not had any occupational accident. If occupational accident occurred, the frequency rate of occupational accidents must drop by at least 15% of the average frequency of workplace accidents in 3 preceding years.
In order to be entitled to apply the rate of compulsory insurance contribution to the occupational accident and disease benefit fund at 0.3%, enterprises have to submit applications to the of Ministry Labor –Invalids and Social Affairs to approve on the case – by – case basis. The Ministry Labor –Invalids and Social Affairs shall make decision on applying the lower-than-normal rate of contribution to the occupational accident and disease benefit fund (0.3%) for 36 months.
This Decree takes effect from July 15th, 2020.
This Decree replaces Decree No. 44/2017/ND-CP dated April 14th, 2017 and point b Clause 1 Article 13 of Decree No. 143/2018/ND-CP dated October 15th, 2018.