Social insurance services for FDI company in Vietnam

Discover the essential social insurance services tailored for foreign direct investment (FDI) companies, ensuring compliance and protection for both employers and employees in a global market. Social insurance services for FDI company at extremely reasonable costs, helping businesses to complete applications quickly. Under current social insurance law in Vienam, the article below of Viet An tax agent will bring you more detailed information about this service.

Documents to be prepared when participating in social insurance services for FDI company

FDI enterprises when participating in social insurance need to prepare 2 sets of documents:

• Dossier of registration of social insurance unit code:
  • Notarized copy of business registration license
  • Declaration of participation and adjustment of social insurance according to form TK3 – TS.
  • Dossier of notification of increase in social insurance for employees working at enterprises
• For first-time social insurance participants, it is necessary to make a declaration according to the form TK1 – Dr.
  • Form No. D02 – LT to report on the employment situation and the list of employees participating in social insurance, health insurance and unemployment insurance.
  • In case the employee is entitled to higher health insurance benefits, additional documents are required
  • Dossier delivery slip (made according to form PGN 600).
  • Notarized copies of CCCD, household registration books, passports of employees.
  • Labor contract between the enterprise and the employee.

Time to complete social insurance registration procedures

The time to complete social insurance services for FDI company immediately after receiving all the documents provided by the enterprise ranges from 5 to 15 working days.

This time depends on each different province in the territory of Vietnam and the processing time of the dossier directly managed by the social insurance agency.

Regulations on payment of social insurance premiums of foreign-invested enterprises

Pursuant to Clause 3, Article 2 of the Law on Social Insurance, FDI units that have capital investment activities in the territory of Vietnam and hire Vietnamese workers under labor contracts are required to participate in and pay social insurance premiums for employees at the prescribed rate.

Foreign workers who meet the following conditions are required to participate in social insurance:

• Having a work permit or practice certificate issued by a competent state agency in Vietnam.
• Having a labor contract with a term of full 1 year or more or an indefinite contract with an employer in Vietnam.
• Not falling into one of the following cases: Employees who are over the prescribed working age, employees who have to move internally in foreign enterprises who are managers, experts, technical workers,… to Vietnam for short-term work.

The process of implementing social insurance service packages for FDI company

Procedures for providing social insurance services for FDI company are implemented as follows:

Step 1: Consulting for businesses

Advising on conditions for participation in social insurance according to Vietnamese labor law, foreign workers, salary for BHBB and social insurance payment rate according to the law of employees and enterprises.

Advise on the set of dossiers and papers that need to be prepared to proceed with social insurance registration.

Quote the cost of completing social insurance registration services for FDI company.

Step 2: Prepare the dossier

Viet An Tax Agent will prepare 2 sets of dossiers on behalf of FDI enterprises: Application for social insurance unit code (If newly established) and dossier of notification of increase in social insurance for employees.

Relevant notarized documents, including: Business registration certificate, CCCD and household registration book of Vietnamese workers, passports of foreign workers.

Step 3: Proceed to submit the application

Viet An will be responsible for submitting the dossier directly at the social insurance agency where the enterprise is located as its business registration headquarters or can submit the dossier online via the Social Insurance Public Service Portal or on the social insurance declaration software.

After the submission is completed, the tax agent will closely monitor the process of processing the dossier to ensure the earliest results.

Step 4: Acceptance and handover of results

After the completion results, Viet An tax agent will hand over all dossiers, social insurance and health insurance books of registered employees to the enterprise.

Commitment of Viet An tax agent

We are committed to providing customers with social insurance services for reputable and quality FDI company. Shaped and consulted by a team of professionals and experience, this service not only ensures legal requirements for FDI enterprises but also provides comprehensive support, bringing convenience and peace of mind to customers.

Frequently asked questions when FDI enterprises register for social insurance

Do foreign-invested companies in Vietnam have to pay social insurance?

If FDI enterprises hire employees in Vietnam, they need to participate in social insurance and pay social insurance for employees in accordance with the law.

Is the procedure for registering for social insurance time-consuming?

If the procedure for registering for social insurance declaration is done by experienced and professional people, it will take place very quickly. You just need to complete the dossier according to the prescribed form, then send it to the social insurance agency and wait for approval.

Please contact Viet An tax agent for more advice and answers about the procedure for registering for social insurance!