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If you are interested in hiring a remote team in Viet Nam, or even just individual remote employees in Viet Nam, then you have come to the right place!
Rivermate is an Employer of Record (EOR) that offers Viet Nam payroll solutions. As a Viet Nam payroll provider, we will cover everything from salary, benefits, employer-to-employee contributions, and especially payroll compliance in Viet Nam. We are confident Rivermate’s payroll solutions Viet Nam will help you grow as a business—because now, you won’t have to worry about your payroll solutions Viet Nam. We take care of everything payroll!
With Rivermate, you can run Viet Nam payroll services in just one click—regardless of currency, benefits, insurance, and your local labor laws. Everything is automated. Our priority is for you to focus on your company’s strategy and growth.
Our Rivermate Global Payroll services are made especially for startups and scaleups. We know that startups try to be extra prudent when it comes to choosing a payroll provider, so it is our mission at Rivermate to be your most reliable and cheapest payroll provider option. So if you’re looking for global payroll providers for small businesses, look no further and book a call with us now!
Once you've determined the best Viet Nam payroll option for your company, you'll need to collect some information from employees in order to add them to your payroll. Begin by acquiring their personal identification number, tax deduction card, and emergency contact information. When an employee begins working and provides you with their tax deduction card, they become a part of the social security system and are eligible for benefits.
As an employer, you must be concerned with both corporate taxes and determining what your employees owe. Vietnam has a Statutory Social Insurance policy that applies to entities, enterprises, and organizations with employees on indefinite-term labor contracts or definite-term contracts that are three months or longer in duration. Employers pay 23% of their payroll for this insurance, while employees pay 10.5%.
Companies that wish to expand their operations globally have four different payroll options in Viet Nam. These payroll options are:
1. Internal Payroll. This payroll option is applicable for already established companies in Viet Nam. It includes devoting an entire Human Resources staff to running the company's payroll procedures.
2. Remote Payroll. Smaller firms may lack the capacity to handle their own payroll, but they may add their workers to the parent company's payroll. This action, on the other hand, requires considerable thinking. You must guarantee that you follow the rules and laws of each nation.
Working with a local outsourcing firm is one method to retain money in the local economy, but you'll still need to study all of the local rules and regulations, since you'll be held responsible.
3. Viet Nam payroll outsourcing: Outsourcing your payroll to an Employer of Record in Viet Nam, such as Rivermate, is another alternative for Andorra payroll outsourcing. We can manage all aspects of your payroll, including compliance. Send us a note and we'll get back to you as soon as possible!
It is the obligation of the employer to ensure that all payroll-related transactions are properly documented and recorded. All salaries and compensation payments must adhere to the local minimum wage as well as other applicable laws and regulations.
Rivermate's payroll services in Viet Nam can assist you in staying in compliance with the country's ever-changing payroll rules. We provide an all-inclusive solution that covers everything from compliance and reporting to salary payments.)
Companies that have a business presence in Viet Nam have different ways of managing payroll. However, most of the options you have for running payroll in Viet Nam are either expensive or require establishing a subsidiary in Viet Nam. The cheapest, most efficient, and most reliable payroll processing system in Viet Nam is by outsourcing payroll to Employers of Record (EOR) in Viet Nam. Rivermate is one of those Employers of Record.
At Rivermate, we offer you the most efficient, most compliant, and cheapest HR and Payroll Management services in Viet Nam. We do this by taking care of your payroll-related needs, such as keeping track of your employees’ financial records, including incentives, gross and net salary, and payslips, all the while staying compliant with the labor laws in Viet Nam. Because we do your online payroll management for you, you can have absolute focus on your business’ strategy and growth.
Rivermate is all about growth through collaboration and we achieve this by offering the most reliable yet cheapest services for managing payroll for small businesses in Viet Nam.
Employers and employees both have the right to cancel an employment contract with notice. The notice time varies between three and forty-five days, depending on the nature of the contract and who is providing notice. No notice is necessary in certain cases.
Employers are generally required to pay severance to employees with at least 12 months of service, unless the individual is terminated for breaching business regulations, retires with a pension, or terminates the contract illegally or unilaterally. Severance pay is equivalent to one-half month's salary for each year of service.
The following wages are the minimum salary for untrained employees per region.
In Region I, the minimum wage is VND 4,420,000. In Region II, the minimum wage is VND 3,920,000. In Region III, the minimum wage is VND 3,430,000. In Region IV, the minimum wage is VND 3,070,000.
The minimum salary for trained employees must be higher than at least 7% of the regional minimum base salary.
In Vietnam, the standard work week is eight hours per day and 48 hours per week spread over six days, though this may be reduced in certain industries. Each employee is entitled to at least one day of paid time off per week.
The national system provides basic insurance.
Employers are required by law to offer health insurance to their workers and to conduct yearly health exams.
Supplementary health and life insurance is often given to workers as a perk in order to provide greater coverage than the mandatory health insurance. Small businesses may offer a stipend in place of obtaining insurance.
Extra vacation time is often requested. Employees often anticipate team excursions and business vacations, which are seen as a perk. Such team activities must be regarded essential in a nation with considerable employee turnover.