Taiwan Increases Basic Salary and Adjusts Employees' Insurance Contributions From January 1, 2019

Since January 1, 2019, Taiwan's basic monthly salary has been adjusted from NT$22,000/month to NT$23,100/month (equivalent to about $770/month), the increase margin is 5%.. .

According to the Vietnam Labor Management Board in Taiwan, on August 16, 2018, the Wage Council of Taiwan met for the 33rd time and agreed to adjust the basic salary for employees subject to adjustment. of the Basic Labor Law. Accordingly, the time and adjustment level are as follows:

                          Taiwan Wage Council meets to agree on salary adjustment for employees

From January 1, 2019, for signed labor contracts in which the employee's basic salary is enjoyed on a monthly basis, the basic monthly salary is adjusted to increase from NT$22,000/month to NT$23,100 RMB/month (equivalent to about 770 USD/month), the increase margin is 5% (increase of NT$ 1,100/month compared to the current basic salary).

                                                     Taiwanese brokers interview workers at C.I.P.CO office

                                       Vocational training for household audiences at C.I.P.CO training center

In addition, the level of participation in labor insurance and health insurance is also adjusted as follows:

- Labor insurance: The total participation in labor insurance is 10% of the employee's basic salary. In which, the employer pays 70%, the employee 20%, the state supports 10%. Thus, the monthly labor insurance premium rate of the employee is calculated as follows:

Labor insurance = Basic salary x Coefficient of labor insurance premium(10%) x Factor paid by employees(20%). Specifically, the labor insurance premium for foreign workers with a salary of NT$23,100/month is:

NT$23,100 x 10% x 20% = NT$462/month

Employees working as domestic workers and domestic workers are not required to participate in labor insurance.

- Health insurance: The total level of participation in health insurance is 4.69% of the employee's basic salary. In which, the employer pays 60%, the employee pays 30%, the state supports 10%. Thus, the monthly health insurance premium of the employee is calculated as follows:

Health insurance = Basic salary x Coefficient of health insurance premium (4.69%) x Factor paid by employees(30%). Specifically, the health insurance premiums of foreign workers with a basic salary of NT$23,100/month are as follows:

NT$23,100 x 4.69% x 30% = NT$325/month.

The above level of health insurance contribution applies to both domestic workers and domestic workers.