According to the Ho Chi Minh City Social Insurance Agency, there will be changes to minimum basic wage and SHUI rate in Vietnam starting from July 1, 2023.
The changes are as the following:
- The minimum basic wage in Vietnam will increase from 1,490,000 VND per month to 1,800,000 VND per month.
- The maximum monthly salary subject to Social Insurance and Health Insurance contributions will be capped at 36,000,000 VND, instead of the previous limit of 29,800,000 VND.
- The maximum monthly salary subject to Unemployment Insurance contributions will be determined based on the minimum monthly wage of the specific zone where the employer is located. In Zone 1, where the minimum monthly wage is 4,680,000 VND, the cap for Unemployment Insurance contributions will remain at 93,600,000 VND per month, unchanged from before.
Refer to the official webpage of Social Insurance Agency for more detailed information on these changes.