From July 1, the penalty for late payment of social insurance will be increased.

From July 1, businesses that are more than 30 days late in paying social insurance will be fined 0.03% interest per day. The new regulation aims to protect the rights of employees and avoid long-term debt and evasion.

Illustration photo. VTV

The Law on Social Insurance (SI) 2024 will officially take effect from July 1. One of the important contents that many businesses are interested in is the new regulation on penalties for late payment and social insurance debt, with a penalty interest rate of up to 0.03%/day, equivalent to about 20 million VND/month if payment is late for more than 30 days.

In Bac Ninh , DCCK Vietnam Company is currently late in paying more than 230 million VND in social insurance for more than 70 employees. According to the new regulations, if the payment is delayed for 30 days or more, the interest rate will be 0.03%/day, which is about more than 20 million VND/month. The amount is not large, but it can cover monthly expenses such as stationery, cleaning, etc. Therefore, the company representative said that they also want to quickly fix this late payment.

Many businesses believe that the new regulation is necessary to ensure the rights of workers, while also creating a deterrent for cases of intentional tax evasion. However, some opinions also hope that the law will be more flexible in cases of force majeure, such as errors in bank transfers or problems in payment of orders.

Mr. Nguyen Tien Dung, Head of Human Resources Department of Air Liquide Vietnam Company, commented: "It is accidental and the reason is the difference in the time limit for money transfer, there are factors such as the time of money transfer, through the intermediary bank channel, there may be a bank there."

According to statistics from the Social Insurance of Viet Yen town ( Bac Giang ), there are currently 36 units in this area that are late in paying social insurance with a total debt of more than 37 billion VND, accounting for about 1% of total revenue. Of which, the slowest unit has been in debt for up to 6 months.

The Social Insurance Agency recommends that businesses proactively fulfill their social insurance obligations, not only to avoid fines but also to ensure social security benefits for their employees.
VTV

Source: https://baoninhbinh.org.vn/tu-1-7-tang-nang-muc-phat-cham-dong-bao-hiem-xa-hoi-026485.htm