Hanoi Social Insurance names FLC unit as one of most indebted firms

October 22, 2019 | 11:33

(0) user say

Local real estate giant FLC’s subsidiary FLC Faros was listed among the top five companies with the heaviest social insurance debts by Hanoi Social Insurance.

hanoi social insurance names flc unit as one of most indebted firms

Hanoi Social Insurance has just published the list of 500 companies delaying social insurance payment

The authority once again announced the list of 500 companies delaying their social insurance payments. As of the end of September, total social insurance debts were VND1.989 trillion ($86.48 million), affecting about 13,660 labourers. These serious violations have been negatively impacting social security over the capital area.

Leading the list is VIT-Garment with VND21 billion ($913,000) in debts, followed by Minh Quan Hi-Tech JSC with VND16.4 billion ($713,000), VTC Digital with VND12.9 billion ($560,900), Investment and Construction JSC No.4 with VND6.825 billion ($296,700), and FLC Faros with VND6.724 billion ($292,300).

According to Hanoi Social Insurance, the reasons behind the increasing debt in social insurance payments are that many of them have been reporting weak performance, as well as the lack of awareness about the role of social insurance. Moreover, local authorities’ supervision and inspection of the firms is not strict enough to force them into compliance.

The Hanoi Social Insurance also proposed the Ministry of Security, the People’s Supreme Procuracy, and the People’s Court to review these violations in light of the Criminal Code 2015. The city’s Federation of Labour keeps directing local unions to press lawsuits against violating companies to protect the rights of workers.

By Van Anh

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional