On 27 May 2020, the Government issued the Decree No. 58/2020/ND-CP on the rate of contribution to the occupational accident and disease insurance fund.
Accordingly, enterprises shall be entitled to rate of contribution lower than normal rate of contribution to the occupational accident and disease insurance fund (0.5% salary for accounting compulsory social insurance instead of 0.5%) if they satisfy following conditions:
(i) Within 03 years before the time applying for reducing rate of contribution, the enterprise has not yet been imposed administrative fine, criminal accused for violating law on labor safety and hygiene and social insurance;
(ii) The enterprise strictly comply with request for periodical report on labor accident, labor safety and hygiene within 03 years before the time applying for reducing rate of contribution;
(iii) Number of labor accident in the year before the time applying for reducing rate of contribution decrease at least 15% in comparison with average number of labor accident of 03 years before the time applying for reducing rate of contribution or there is no labor accident incurred within 03 years before the time applying for reducing rate of contribution.
The Decree No. 58/2020/ND-CP shall be effective from 15 July 2020.
