On August 11, 2022, the Minister of Finance issued Circular 50/2022/TT-BTC guiding Decree 119/2015/ND-CP and Decree 20/2022/ND-CP on compulsory insurance in construction investment activities (“Circular 50”).
In this newsletter, let’s find out with Bizlawyer about the latest compulsory insurance premium schedule for construction workers on the construction site under Circular 50.

(*) Occupation classification:
Type 1: Indirect labor, working mainly in offices, desks or other similar jobs with little travel. For example: accountant, administrative staff.
Type 2: Occupations that are not manual labor but have a greater risk than type 1, require a lot of travel, or include manual but infrequent and light manual labor. For example, civil engineers, and managers often come to the construction site.
Type 3: Occupations where the work is mainly manual labor and jobs with a higher level of risk than type 2. For example: include mechanical engineers, electrical engineers, and workers on construction sites.
Type 4: Occupations that are dangerous, prone to accidents, and are not specified in the above three types of occupations.
Above are some studies on the latest compulsory insurance premium schedule for construction workers on the construction site according to Circular 50.

Circular 50 will take effect from September 1, 2022.
* This newsletter is for informational purposes only on newly issued legal regulations, not for advice or application to specific cases.
Hope the above information is useful to you readers.