Vietnam Social Security (VSS) found 74,000 companies evading social insurance payments for workers in 2022 after inspecting 36,000 units.

They were required to pay social insurance premiums worth nearly VND200 billion ($8.47 million).

Late payments of social insurance last year reached more than VND13 trillion ($550 million), accounting for 2.91 per cent of the total to be collected.

Deputy Head of the Policy and Legal Department at the Vietnam Confederation of Labor Le Dinh Quang said companies evading social insurance payments for their workers severely affect the social security rights of employees.

He proposed amending existing regulations to raise sanctions on violators and adopt policies to support affected workers.

Social insurance agencies said they will propose prosecuting businesses who try to avoid social insurance payments.