Decision No. 12/2020/QD-TTg piloting deposit applicable to migrant workers to South Korea

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ATTRIBUTE

Decision No. 12/2020/QD-TTg dated March 31, 2020 of the Prime Minister on piloting deposit applicable to migrant workers to South Korea in accordance with the Employment Permit System of South Korea
Issuing body: Prime MinisterEffective date:
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Official number:12/2020/QD-TTgSigner:Nguyen Xuan Phuc
Type:DecisionExpiry date:Updating
Issuing date:31/03/2020Effect status:
Known

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Fields:Labor - Salary

SUMMARY

Frorm May 15, a labor going to work in Korea under the EPS Program must deposit VND 100 million

Decision No. 12/2020/QD-TTg on piloting deposit applicable to migrant workers to South Korea in accordance with the Employment Permit System of South Korea is issued on March 31, 2020 by the Prime Minister.

Accordingly, a worker before go to Korea under the Employment Permit System of South Korea (EPS Program) must make a deposit to ensure the performance of the contract and return home on time after the termination of the labor contract. The deposit amount is VND 100 million.

Within 35 days from the date on which the contract of sending the migrant worker to South Korea under the EPS Program is signed by the worker and the Center of Overseas Labor, such worker shall make a deposit at the local Social Policy Bank where the worker registers permanent residence. A term of deposit is 05 years and 06 months.

However the worker who is entitled to borrow capital from the Vietnam Bank for Social Policies to work abroad and has the demand for a loan shall be lent up to VND 100 million at the Vietnam Bank for Social Policies to make a deposit without making loan guarantees.

This Decision takes effect from May 15, 2020, until the Law on Vietnamese guest workers under contract (amended) takes effect.

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Effect status: Known

THE PRIME MINISTER

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No. 12/2020/QD-TTg

THE SOCIALIST REPUBLIC OF VIET NAM

Independence - Freedom - Happiness

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Hanoi, March 31, 2020

 

                                                         

DECISION

On piloting deposit applicable to migrant workers to South Korea in accordance with the Employment Permit System of South Korea

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Pursuant to the Law on Organization of the Government dated June 19, 2015;

Pursuant to the Law on Vietnamese Guest Workers under Contract dated November 29, 2006;

Pursuant to the Government's Decree No. 138/2016/ND-CP dated October 01, 2016, on promulgating the Working Regulation of the Government;

At the proposal of the Minister of Labor, War Invalids and Social Affairs;

The Prime Minister hereby promulgates the Decision on piloting deposit applicable to migrant workers to South Korea in accordance with the Employment Permit System of South Korea.

 

Chapter I
GENERAL PROVISIONS

 

Article 1. Scope of regulation

This Decision provides regulations on piloting deposits and loan support to make deposit applicable to migrant workers to South Korea in accordance with the Employment Permit System of South Korea (hereinafter referred to as the EPS Program), refund and handling of deposits, management and use of deposits after remitting to the State budget.

Article 2. Subjects of application

1. The migrant workers to South Korea in accordance with the EPS Program.

2. The Center of Overseas Labor of the Ministry of Labor, War Invalid and Social Affairs.

3. The Vietnam Bank for Social Policies.

4. Other agencies, organizations, and individuals related to the migrant workers to South Korea in accordance with the EPS Program.

 

Chapter II

PERFORMING DEPOSIT, SUPPORTING LOAN CAPITAL TO MAKE A DEPOSIT

 

Article 3. Performing deposit

1. A migrant worker before going to work in South Korea in accordance with the EPS Program must make a deposit to ensure the performance of the contract, return home on time after the termination of the labor contract.

2. The deposit amount is VND 100,000,000 (one hundred million).

Article 4. Time of deposit, bank deposit and term of deposit

1. Within 35 days from the date on which the contract of sending the migrant worker to South Korea under the EPS Program is signed by the worker and the Center of Overseas Labor, such worker shall make a deposit at the local Social Policy Bank where the worker registers permanent residence.

2. A term of deposit is 05 years and 06 months.

Article 5. Loan support to make a deposit

1. A worker who is entitled to borrow capital from the Vietnam Bank for Social Policies to work abroad and has the demand for a loan shall be lent up to VND 100,000,000 (one hundred million) at the Vietnam Bank for Social Policies to make a deposit without making loan guarantees.

2. The Vietnam Bank for Social Policies shall agree with the worker in the credit contract about loan terms, the payment of principal debt and interest rate.

3. The lending interest rate shall be in accordance with the interest rate provided by the Vietnam Bank for Social Policies for labors working abroad under contracts according to each subject.

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