16,000 billion support package: next week, businesses can access it

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Deputy Minister of Labor, Invalids and Social Affairs Le Van Thanh informed about the situation of enterprises approaching 16,000 billion VND loan package to pay salary for employees after the Government loosened loan package conditions.

At the Government’s regular press conference on the afternoon of October 30, Deputy Minister Le Van Thanh said that the Government has issued Resolution 42 and Decision 15 to support people and businesses. Up to now, basically all social protection beneficiaries, the poor and people with meritorious services have been provided.

However, for businesses and employees, the implementation process is limited. The main reason is that the verification procedure is still strict, so the implementation has not met the requirements.

To remove, Mr. Thanh said that the Ministry of Labor, Invalids and Social Affairs advised the Government to issue Resolution 154, Decision 32 dated October 19, 2020 to remove some conditions of Resolution 42 and Decision 15, which includes 3 basic contents.

Firstly, to supplement the employees who are teachers in private preschool to high schools.

Second, creating more favorable conditions for businesses to borrow salaries for employees, that is to reduce the conditions in terms of revenue, financial capacity, only a revenue reduction of 20% is eligible.

Third, loosen the borderline on suspension of social insurance contributions, formerly 50% of the number of employees, and now 20%.

“On October 19, when the resolution was issued, on October 20, the Social Policy Bank (VBSP) issued a document instructing all local banks to implement lending, VBSP held a popular online conference to all branches, district and commune representatives about this loan package “, Deputy Minister Le Van Thanh said.

Also according to Deputy Minister Thanh, on October 27, the Ministry of Labor, War Invalids and Social Affairs issued Official Letter 4237 guiding the suspension of pension insurance payment for enterprises, requesting localities to implement Resolution 154 as well as Decision 32. At the same time, the media has also passed the information to all citizens, businesses and workers.

This deployment started on October 23, and has been a week so far, so businesses are now doing the procedures. Conditions are also easier now, in the past required businesses to get certification but now employers can directly prepare loan documents, self-declare, take responsibility before the law for the accuracy. Be honest about the number of employees who stop working, determine the revenue to meet loan conditions, send it to VBSP to enjoy support policies as prescribed.

“I believe that next week, with the simplification and difficulty in confirming the conditions, businesses will soon complete the confirmation procedures to access this support package”, Mr. Thanh affirmed.

Source: bizlive.vn – Translated by fintel.vn