Vietnam

Last Update by Katie, 07 Jun 2024

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Exchange Rate

13 Jun 2024

 

Cost of Living

Indicative value for a working adult in a city: Ho Chi Minh City

Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff

Living Requirement Indicative Amount (VND)
McDonalds Set Meal 120,000
Monthly Train and Bus Tickets 205,911
3 Bedrooms Rental (City Center) 28,819
3 Bedrooms Rental (Outskirt) 15,357

Current Inflation Rate

3.37%

Wage

Minimum Wages

  • From 1st July 2023, 1,800,000 VND (USD 78) per month

Median Salary

Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.

Job Level Monthly Salary (VND)
Entry-Level
Fresh Graduate
9,450,000
Mid-Level
5 Years
20,700,000
Experienced & Managerial Level
10 Years
36,550,000
Specialized & Senior-Level
15 Years
Over 48,700,001

Annual Salary Growth

7.8%

Statutory Contribution

The monthly salary limit is capped at VND36,000,000

Country Level

Type Employer Rates Employee Rates Notes
Social Insurance (SI) 17.5%
Sickness and Maternity -3%
Occupational Accidents and Diseases - 0.5%
Retirement and Death - 14%
capped at 20 times basic salary for SI
8%
Sickness and Maternity - 0%
Occupational Accidents and Diseases - 0%
Retirement and Death - 8%
capped at 20 times basic salary for SI
All staff
Health Insurance (HI) 3%
Capped at 20 times the basic salary for HI
1.5%
Capped at 20 times the basic salary for HI
All staff with contracts longer than 3 months
Unemployment Insurance (UI)
(Region 1)
1%
Capped at 20 times the minimum regional salary for UI
1%
Capped at 20 times the minimum regional salary for UI
All staff
Trade Union Fee 2% 1% (local staff)
0% (foreign staff)
All staff

Other Benefit

Other common employment benefits in Vietnam include:

  • 13th month salary paid in December
  • Medical and Dental Insurance: 300 USD per year

Income Tax

Residents

  • Tax period: 1st January - 31st December
    Filing start date: 1st March
    Filing due date: 30th April

Country Level

Taxable Income Rate
0 - 60 (million) 5%
60 -120 (million) 10%
120 - 216 (million) 15%
216 - 384 (million) 20%
384 - 624 (million) 25%
624 - 960 (million) 30%
More than 960 (million) 35%

Non-residents

  • Flat rate of 20%

Working Hours

Statutory

48 hours
8 hours a day, 6 days a week

Typical practice

48 hours
Monday - Saturday

Overtime

Overtime hours must not exceed 40 hours per month.

  • Workdays: 150% of regular hourly pay
  • Saturday/rest day: 200% of regular hourly pay
  • Public Holiday: 300% of regular hourly pay

Employment Contract

Fixed- Term

Depending on the nature and complexity of the work

Probation

  • - Enterprise Executive/Management Position : 180 days
    - Junior college degree and above: 60 days
    - Vocational certificate/professional secondary school/technicians/skilled staff: 30 days
    - Other roles: 6 days

Contract Period

Up to 180 days

Termination

  • Notice period:
    - 45 days
  • Severance:
    - Staff with 1 year service are eligible
    - Monthly salary (average of 6 months prior to termination) * working years * 0.5.

Public Holiday

10 days

Country Level

Date Name
01 Jan New Year's Day
09 Feb - 15 Feb Vietnamese New Year's Day
18 Apr Hung Kings Commemorations
27 Apr - 29 Apr Reunification Day
30 Apr Reunification Day
01 May Labor Day
02 Sep National Day

Leave

Leave Type Entitlement Notes
Annual Leave 12 working days All staff
Sick Leave 30 days per year
40 days pr year
60 days per year
All staff with under 15 years paid social insurance
All staff with 15 - 30 years paid social insurance
All staff with over 30 years paid social insurance
Maternity Leave 6 months , 1 extra month for twins or more Extended leave that accrues over a long period of service with the same employer.
Paternity Leave 5 days - natural births:
7 days - birth by cesarean section
10 days - natural twin births
14 days - birth of twins by cesarean section
Additional 3 days' leave for each child - birth of more than two children at one time
All male staff with social insurance contributions

Reference

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