Decree No. 38/2022/NĐ-CP will impact people working in major cities such as Ho Chi Minh City and Hanoi. Essentially, it announces an approximate 6% increase in the minimum monthly wage for these urban areas, raising it to 4,680,000 VND. This new payroll regulation in Vietnam entered effect on July 1, 2022. If you are a foreign … Continued
In order to combat rising inflation rates as well as consequences of the Russia-Ukraine war such as supercharged gas prices, the Vietnamese government has issued Decree 38/2022/ND-CP for statutory minimum wage adjustments. The Prime Minister, working alongside the Ministry of Labor, War Invalids and Social Affairs, has just announced this change during a dialogue program … Continued
As Vietnam’s business landscape rapidly expands, it becomes increasingly important for business owners and employers to navigate payroll obligations, including employee insurance. In this article, we delve into Vietnam’s employee insurance system, specifically exploring the different types of insurance commonly known as SHUI – Social, Health, and Unemployment Insurance. Read About InCorp Vietnam’s Payroll Outsourcing … Continued
Keeping up to date with the latest payroll obligations is a key element in running your business operations smoothly and compliantly in Vietnam. However as with any emerging marketing, with the pains of growth comes regular updates to the legal system, including that of payroll obligations, insurance, minimum wage, and more. Latest payroll updates to … Continued
Vietnam provides foreign businesses with a young, well-educated workforce and a relatively inexpensive workforce. Employers should have a basic understanding of human resource management. Many companies primarily rely on HR outsourcing entities, particularly for advice related to recruitment, training, and payroll. Many multinationals report that they would like to outsource more of their operational HR … Continued
In Vietnam, as your business continues to grow, you will have to be responsible for more and more business functions. For startups and SMEs (small and medium enterprises) in particular, it’s sometimes challenging to keep up with these functions with only your in-house teams. They might not have the necessary expertise or present enough agility … Continued
Accurate payroll calculation in Vietnam is crucial as it will affect your employee’s pay and tax outcome. Here is your payroll guide.
There are always new opportunities and challenges in setting up a new business in a foreign country. If you want to have a successful business in Vietnam, you must consistently address the common issues with payroll management. Hiring, firing and dealing with taxes, insurance and more can tough while navigating the bureaucracy of a new … Continued
Employer of Record (EOR) in Vietnam is a service that partners with a business to help the business expand into the country, hire employees, and manage and pay the company’s employees – all through a single EOR provider. However, the employees do not work for the EOR provider, but for the company that uses the … Continued
Vietnam has experienced the most phenomenal transformation over these years with its market openness and policy changes to attract and facilitate foreign direct investment. Not only there are more and more new businesses in Vietnam, but there are also numerous foreign companies expanding their operations in the country. Various outsourcing processes, then, are demanded by … Continued
payroll service provider minimizes the need for in-house payroll personnel, guarantees compliance with Vietnam’s payroll laws, and eliminates the need to purchase or maintain software packages.
Payroll processes and regulations are complicated in Vietnam and they have made many HR departments want to scream out of frustration. This is especially true for companies that rely on their internal HR employees. Payroll in Vietnam is often a nightmare for most companies and there are many areas where errors can occur easily and … Continued