Unemployment insurance is a lifeline for many people during the Covid-19 epidemic. Need to know how unemployment insurance is calculated to avoid losing your benefits.
After two years of COVID passed, more than 13 million workers received social insurance to cover their lives. This is good news in difficult times. As a benefit recipient, have you ever wondered how unemployment insurance is calculated?
“Unemployment benefits” or “unemployment insurance” are keywords searched during the lockdown period. For workers, it is a "lifesaver" for many families. Having unemployment insurance in hand is like having a solid material and spiritual "spiritual support". At the same time, unemployment insurance also solves difficulties for employers and the state.
So, how is unemployment insurance calculated? Accumulated and then let it take a long time to receive 1 time or not? Follow CashBerry to find out!
In Article 4 - Clause 3 - Employment Law 2013 defines what unemployment insurance is. This is a regime to compensate part of the income for workers who have lost their jobs. From there, support them to learn a job, maintain a job or find a new job. All are based on contributions to the Unemployment Insurance Fund.
To know how unemployment insurance works , you must first make sure you are eligible to receive it. Here are the conditions for your review:
1. The labor contract/working contract has been terminated, except for the following cases:
- The employee unilaterally terminates the labor contract or the working contract illegally.
- Receive monthly pension and allowance for loss of working capacity.
2. Having paid unemployment insurance in full:
- 12 months or more upon termination of a labor contract within 24 months, for both definite and indefinite term contracts.
- 12 months or more when terminating labor contracts within 36 months, for seasonal contracts or certain jobs with full working time of 03 - 12 months.
3. Has registered for unemployment and filed for benefits at the Employment Service Center.
4. Still have not found a new job after 15 days (from the date of filing unemployment insurance)
Except for the following cases:
- Citizens who are performing military or police service.
- Studying for a term of 12 months or more.
- Being at a reformatory, compulsory education institution, compulsory detoxification establishment.
- Being detained, executed, sentenced to prison.
- Going abroad to settle down, go to work abroad under contracts.
After determining the conditions to receive unemployment insurance. Let's find out how unemployment insurance is calculated so as not to lose the benefits that you are legitimately entitled to. Also, know what the unemployment insurance rate is.
Clauses 1 and 2, Article 50 of the Employment Law 2013 prescribe the calculation of unemployment benefits as follows:
Monthly benefit = Average monthly salary of UI payment for 6 consecutive months before unemployment X 60%
For example: The average monthly salary on which unemployment insurance premiums are based of the preceding 06 months before your unemployment is 4 million VND/month. So the monthly unemployment allowance you receive is: 4 million VND x 60% = 2.4 million VND. If you have paid unemployment insurance for 72 months, you are entitled to 6 months of unemployment benefits. Note that the benefit will be paid monthly by insurance, not in a lump sum.
If you are eligible for unemployment insurance benefits but have not received it yet. Follow the instructions below to see how unemployment insurance is paid .
Step 1: Prepare documents according to instructions
Article 16 - Decree 28/2015/ND-CP stipulating that the application file for unemployment insurance benefits includes:
- An application for unemployment benefits must be filled in with complete and accurate information.
- Prepare the original or notarized copy of one of the following documents:
● Expired labor contract or work completion certificate.
● Papers certifying the termination of the labor contract (for seasonal work or with a term from full 3 months to less than 12 months).
● Decided to resign.
● Resolved excommunication.
● Disciplinary decision forcing dismissal.
● Decision or agreement to terminate the labor contract.
- Social insurance book.
Step 2: Submit your application to receive unemployment benefits
Applications for unemployment insurance benefits must be submitted directly to the Employment Service Center within 3 months. After this time, the Center will no longer accept procedures for receiving unemployment benefits. However, the employee's unemployment insurance premium payment period will be preserved.
Step 3: Wait for the document to be confirmed and receive the subsidy
Within 5 days from the date of receiving the decision on unemployment benefits. You can go to the social insurance agency to receive unemployment benefits for the first month. Every month, you have to go to China to launch a job service to make a job search notice in accordance with regulations.
Based on the calculation of social insurance, many workers wonder what year unemployment insurance starts to pay . They only know that the longer the duration of greed, the larger the amount. However, it is necessary to know when social insurance takes effect to know the exact amount of money received.
According to the Law on Social Insurance 2006, for the first time, the "unemployment insurance" regime was recorded, effective from January 1, 2007. But the time to start applying is January 1, 2009. Thus, unemployment insurance officially took effect from 2009. Therefore, the time employees participate in insurance before 2009 are not counted as participating in unemployment insurance.
Many workers are still wondering whether not receiving unemployment insurance is cumulative . Because in the process of participating in the insurance, these workers have to change places of work. At the same time, the old company has not yet paid this amount.
According to the Employment Law 2013, the period of participation in unemployment insurance will be accumulated from the beginning of payment until the termination of the labor contract. Even if the employee pays unemployment insurance intermittently due to job relocation, the employee is still entitled to unemployment insurance benefits, based on the total time that he or she has participated.
The beneficiaries of this support package are employees who are participating in unemployment insurance as of September 30, 2021 and employees who are entitled to a reservation to participate in social insurance from January 1, 2020 to September 30. 2021. You can look up directly with your insurance code to see if you're eligible.
The above article provides full information on how unemployment insurance is calculated, as well as conditions and real ways to receive benefits. If you are not yet eligible to receive, but are in need of some money to cover life. You can refer to quick online loans from 1 to 10 million at CashBerry .
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