Ms. Phan Thi Mai Khanh (HCMC) asked, is it possible for a private enterprise to pay VND 50,000,000/month in compulsory social insurance for the director?

In this regard, Vietnam Social Security replied as follows:

According to the provisions of Point h, Clause 1, Article 2, Clause 1, Article 85, Clause 1, Article 86, Clause 3, Article 89 of the Law on Social Insurance 2014. Clause 2 and Clause 3, Article 17 of Decree No. 115/2015/ND-CP dated 11 November 2015 of the Government detailing a number of articles of the Law on Social Insurance on compulsory social insurance shall:

Persons working under indefinite-term labor contracts, definite-term labor contracts of full 1 month or more, and enterprise managers who are directors of enterprises receiving salary and are eligible for participation in compulsory social insurance.

- The monthly salary used as the basis for payment of social insurance premiums for employees working under a labor contract is the salary, wage allowance and other additional amounts in accordance with the labor law stated in the labor contract. For an enterprise manager, the salary is decided by the enterprise; In case the monthly salary used as the basis for payment of social insurance premiums is higher than 20 times the base salary, the monthly salary on which social insurance premiums are based is equal to 20 times the base salary (the current base salary is VND 1,490,000).

It is recommended that Ms. Khanh should base on the above provisions to implement the compulsory social insurance policy for the director of the enterprise where she works in accordance with the law.