Vietnam

Last Update by Julie, 21 Nov 2024

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Exchange Rate

22 Jan 2025

 

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

  • Minimum Wage by Region in Vietnam
    Region 1:
    Minimum Wage: VND4.96 million
    Description: Covers urban areas including Ho Chi Minh City and Hanoi.
    Region 2:
    Minimum Wage: VND4.41 million
    Description: Includes rural areas of Ho Chi Minh City and Hanoi, as well as cities like Da Nang and Hai Phong.
    Region 3:
    Minimum Wage: VND3.86 million
    Description: Applies to provincial cities and districts such as Bac Ninh, Bac Giang, Hai Duong, and Vinh Phuc.
    Region 4:
    Minimum Wage: VND3.45 million
    Description: Encompasses all remaining localities, including less developed and rural areas.

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 VND 36,000,000

Country Level

Type Employer Rates Employee Rates Notes
Social Insurance (SI) - 17.5%
- 3% for Sickness and Maternity.
- 0.5% Occupational Accidents and Diseases
- 14% Retirement -and Death 		- 8%
Retirement and Death 		All staff salary capped at VND 46,800,000, maximum SI salary is 20 times statutory pay
Health Insurance (HI) 3%
 1.5% All staff with contracts over 3 months, salary capped at VND 46,800,000, Maximum HI salary is 20 times statutory pay
Unemployment Insurance (UI)
(Region 1) 		1%
 1%
 All staff salary capped at VND 99,200,000, maximum UI salary is 20 times statutory pay
Trade Union Fee 2% 1% (local staff)
0% (foreign staff) 		All staff salary capped at VND 46,800,000, maximum trade union fee is 20 times statutory pay

Other Benefit

Other common employment benefits in Vietnam include:

  • 13th month salary paid in December
  • Medical and Dental Insurance: USD300 per year

Income Tax

Residents

  • Tax period: 1 Jan - 31 Dec
    Filing start date: 1 Mar of the following year
    Filing due date: 30 Apr of the following year

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

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

Permanent

Contract Format

Written (either paper or electronic) must be in Vietnamese, but other languages are acceptable if understood by both staff and employers.

Payroll Currency

VND

Probation

- Unskilled roles: 6 days
- Vocational certificate, professional secondary certificates, technicians, skilled staff: 30 days
- Junior college degree and above: 60 days
- Enterprise Executive or Management Positions: 180 days

Contract Period

No minimum duration

Termination

Refer to Employment contract signed

  Voluntary Resignation Involuntary Termination Economic Layoff
Notice Period - Probation No notice is required 30 days 30 days
Notice Period - Regular 30 days 45 days 45 days
Severance Pay Not Applicable Staff with at least 1 year of service are eligible for severance. Calculation: Monthly salary (average of the last 6 months prior to termination) × Working years × 0.5 Staff with at least 1 year of service are eligible for severance. Calculation: Monthly salary (average of the last 6 months prior to termination) × Working years × 0.5

Public Holiday

10 days

Country Level

Date Name
01 Jan New Year's Day
28 Jan - 02 Feb Vietnamese New Year Day
07 Apr Hung Kings Festival
30 Apr - 01 May Liberation Day/Reunification Day, International Labor Day
02 Sep Independence Day

Leave

Leave Type Entitlement Notes
Annual Leave 12 working days All staff
Sick Leave - 30 days per year for under 15 years of contributions
- 40 days per year for 15-30 years' contributions.
- 60 days per year for over 30 years of contributions 		All staff who have paid social insurance
Maternity Leave 6 months + 1 month for twins or more Extended leave that accrues over a long period of service with the same employer
Paternity Leave - 5 working days for natural births
- 7 working days for cesarean sections
- 10 working days for natural twin births
- 14 working days for twins by cesarean section
+ 3 days' leave for each child - birth of over 2 children at once 		All male staff with social insurance contributions
Personal Leave - 3 days for own marriage.
- 1 day for marriage of biological child or adopted child.
- 3 days for death of biological or adoptive immediate or extended family member 		All staff

Reference

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