The regulation applies to two groups of employees, namely employees who are participating in social insurance or are reserving their social insurance participation time.

The Ministry of Labor, War Invalids and Social Affairs has just issued Circular 02, regulating the adjustment of salary, wages and monthly income for which social insurance has been paid for a number of employees.

Wages do not keep up with prices

The regulation applies to two groups of employees, namely employees who are participating in social insurance or are reserving their social insurance participation time, have a period of social insurance payment according to the salary regime decided by the employer, receive pension, one-time allowance upon retirement, one-time social insurance or die and relatives are entitled to one-time death benefits, from January 1, 2012 to December 31, 2012; Secondly, employees participating in voluntary social insurance receive pension, one-time allowance upon retirement, one-time social insurance or die and relatives are entitled to one-time death benefits, from January 1, 2012 to December 31, 2012.

According to the Circular, the monthly salary and wages for which social insurance has been paid of the first category of employees as mentioned above will be adjusted according to the following formula:

In which, the adjustment level of salary and wages that have paid social insurance for the corresponding year is implemented according to the following table:

Similarly, the monthly income for which social insurance has been paid of the second group of employees as mentioned above is also adjusted according to the following formula:

In which, the adjustment level of monthly income for social insurance contributions of the corresponding year is implemented according to the table below:

The Circular takes effect from February 20, 2012. The provisions of the Circular apply from January 1, 2012./.

According to Chinphu.vn