1. What is occupational accident insurance?
Occupational accident insurance is a form of insurance under accident insurance that helps protect the interests of employees when they encounter losses caused by work-related accidents. Regulations on insurance premiums, forms of contributions, entitleMENT and compensation terms will be specified in the Law on Occupational Safety and Hygiene 2015 and the Law on Social Insurance 2014.
Accordingly, the Occupational Accident and Disease Insurance Fund will be used to pay the following amounts:
- Examination fee for injury and illness due to occupational accident and occupational disease for eligible cases
- Support living aids, orthopedic equipment
- Cost of health care and recovery
- Support the prevention and risk sharing of occupational accidents and diseases
- Career transfer support for people with occupational accidents and occupational diseases when returning to work
- Cost of management of occupational accident and occupational disease insurance
- Expenses for health insurance contributions for vacationers who receive monthly occupational accident and occupational disease insurance benefits
2. Is it mandatory to pay for labor accident insurance?
According to Clause 2, Article 43 of the Law on Occupational Safety and Hygiene 2015, some of the following employers are responsible for buying and paying compulsory social insurance, including:
- State agencies, non-business units, people's armed units
- Political organizations, socio-political organizations, socio-political organizations - occupations, social organizations - occupations, other social organizations
- Foreign agencies, organizations, international organizations operating in the territory of Vietnam
- Enterprises, cooperatives, individual business households, cooperative groups, other organizations
- Individuals who hire and employ workers under labor contracts
3. Subjects participating in labor accident insurance
Pursuant to Article 43 of the Law on Occupational Safety and Hygiene in 2015 and Clause 1, Article 2 of Decree 88/2020/ND-CP, the beneficiaries include:
- Cadres, civil servants and public employees in accordance with the law on cadres, civil servants and public employees
- Professional officers and military personnel of the people's army; officers, professional sergeant officers, officers, professional technical officers of the people's police; people doing basic work receive the same salary as for military personnel
- Corporal officers, soldiers of the people's army; Corporal officers and soldiers of the people's police for limited time; military and police students studying are entitled to living expenses
- National defense workers, police workers, other workers in the basic organization;
- People working under indefinite-term labor contracts and labor contracts with a full term of 03 months or more and people working under labor contracts with a term of 01 months to less than 03 months.
- Business managers, cooperative managers are entitled to salary.
On the other hand, some subjects doing dangerous occupational work, besides occupational accident insurance, should also buy more personal accident insurance at insurance companies, to receive guarantees for future accident risks.
4. Closing level
According to Clause 2, Article 41 of the 2015 Law on Occupational Safety and Hygiene, the premium of occupational accident and disease insurance is calculated on the basis of the employee's monthly salary and the insurance premium is the employer's responsibility.
In Article 4 of Decree 58/2020/ND-CP, employers must pay to the Occupational Accident and Occupational Diseases Fund at the following rates:
Payment = 0.5% x Monthly salary for social insurance payment
In addition, the payment level equal to 0.3% of the salary fund as a basis for social insurance payment applies to enterprises operating in industries at high risk of occupational accidents and occupational diseases, if eligible, have a written request and approved by the Ministry of Labor, Invalids and Social Affairs.
Occupational accident insurance is essential for employees when going to work. Here are some places you can buy this insurance:
- For the form of labor accident insurance, you can buy it at state social insurance agencies in each locality.
- For personal accident insurance, you can buy Bao Viet accident insurance with a 24-hour accident insurance policy.
- The Health First program is designed by Pacific Cross Vietnam insurance company to bring a global medical care solution. With reasonable fees and flexible design benefits suitable for all needs of each individual, family and organization with a 100% personal accident benefit reimbursement.
Hopefully, the above information has helped you better understand the occupational accident insurance specified in Vietnamese law.