social insurance

Essay by hoanglinh260494University, Bachelor'sD-, November 2014

download word file, 6 pages 0.0

Social insurance funds

The Social Insurance Fund is an independent focus financial funds, outside the state

budget. This fund is used to pay benefits to the beneficiaries of social insurance and the cost of

health insurance at all levels and sectors. The purpose of this insurance is to support the labor in

case that they cannot come to work like diseases, maternity and retirement, or they suffer from

occupational diseases or work accidents.

The social insurance in Vietnam consists of two main types: compulsory insurance and voluntary

insurance, but in some special case, the labor also have to buy unemployment insurance.

Sources for formation of the fund

- Premiums paid by employers

- Profits from activities of investment from the fund.

- The State's supports.

- Other lawful sources of revenues.

1. Compulsory social insurance

* Sickness: This policy is used for both sickness of the employees and their children under 7 years old.

The subsidies rate in this case is from 45 to 100% the income of the nearest month before leaving based

on the insurance payment time and the absent time.

* Maternity: This is applied for all women who give birth, adopt kids, abort or sterilize. The subsidies for

women in this case are 100% the average income of the sixth nearest months, in addition to an one-time

support of 2 month salary. Time to receive the subsidies is 4 to 6 months for those who give birth or adopt

kids, and 7 to 50 days for abortion or sterilization.

* Occupational diseases and accident: this is only used for employees who suffer from work accidents

at or outside the office when conducting the work, diseases caused by working condition and lose 5% of

the working capabilities. The insurance subsidies for this case include a one-time support...