Circular No. 55/1999/TT-BTC of May 11, 1999 guiding amendments to Circular No. 85/1998/TT-BTC of June 25, 1998 of the Ministry of Finance that guides the implementation of the Regulation on financial management of Vietnam Social Insurance

This Circular guides amendments to Point 4, Section I, Part III of Circular No.85/1998/TT-BTC of June 25, 1998 as follows:

"In cases where the employing units pay the social insurance premiums 30 days or more behind schedule, they shall have to pay not only fines according to Point 8, Article 11 of Decree No.38/CP of June 25, 1996 of the Government stipulating administrative sanctions against violations of the labor legislation, but also the premium arrears at the interest rate set for overdue loans by the State Bank of Vietnam at the time of the arrears payment. The Vietnam Social Insurance of different levels shall, at the same time, be entitled to request the State Treasury and banks to make deductions from accounts of such employing units to pay the social insurance premiums and fines (if any) on the late payment of such premiums, without having to get the payment acceptance from the employing units.

For employing units which deliberately breach the social insurance premium payment time-limit, the social insurance agencies of different levels shall have the right to refuse the social insurance payment to all laborers of those units; and at the same time compile dossiers thereof and transfer them to the law enforcement agencies for handling the employers� violations in accordance with the provisions of law.- (Summary)