Company: JL
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001213900-25-068049
Chunk: 133

Company: J-Long Group Ltd
Filing Date: 2025-07-28
Form: 20-F
Item: Item 6
Chunk 133
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 the employees.

Vietnam Social Security

Vietnam's social security
policy is managed primarily by the Vietnam Social Security (VSS), encompassing social insurance, health insurance, and unemployment insurance.
The system relies on both contributory (employee and employer contributions) and non-contributory (social assistance for vulnerable groups)
components. The social insurance program is a pay-as-you-go system, meaning current worker contributions fund retiree benefits.

VSS system is built on four
pillars: social insurance (covering pensions for those aged 60+/55+ with ≥15 contribution years, sickness/maternity, and work injuries),
universal health insurance (80% - 100% medical coverage), unemployment support (60% salary for 3 - 12 months plus retraining),
and social welfare (child allowances, free preschool for 5-year-olds, and poverty aid). Funded by mandatory contributions (32% total salary,
split 21.5% employer / 10.5% employee), the system faces challenges like limited coverage (only ~29% of workers insured) and strains from
an aging population. Recent reforms aim to expand protection to 45% of the workforce by 2025 through digital services and inclusion of
informal workers.

The contributions to the
VSS are recognized as employee benefit expense when they are due and are charged to the consolidated statement of income (loss). The total
contributions to the VSS of our Operating Subsidiary in Vietnam for the fiscal years ended March 31, 2025 amounted to approximately VND
550,590,760 (approximately US$21,792). JLVN has no other obligation to make payments in respect of retirement benefits of the employees

ITEM
7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS