Nguyễn Thanh
As of December 10, 2016, four prominent new regulations on salary shall come into force. Included are:
1. New guideline for determination of salary in a securities organization
On October 25, 2016, the Ministry of Labor, Invalids and Social affairs promulgated the Circular No. 31/2016/TT-BLDTBXH on guidelines for the management of salary in organizations operated as wholly state-owned single-member limited liability enterprises under the Law of securities.
Upon the determination of the planned average pay rate based on the average labor productivity and profit according to Article 9 of the Circular No. 26/2016/TT-BLDTBXH the average labor productivity shall be calculated according to the total revenue in the following manner:
- Planned average labor productivity = Total revenue planned : Planned average number of workers (defined according to Section 1 of the Appendix to the Circular No. 26)
- Average labor productivity attained in the year = Total revenue attained in the year : Average number of workers employed in the year (as defined according to Section 1 of the Appendix to the Circular No. 26)
2. New guideline for determination of salary in the Deposit Insurance of Vietnam
On October 25, 2016, the Minister of Labor - Invalids and Social affairs promulgated the Circular No. 32/2016/TT-BLDTBXH on guidelines for the management of employees and remunerations in the Deposit Insurance of Vietnam.
The following objective factors affecting labor output and total turnover minus total expenses shall be excluded from the calculation of the employees' salary:
- Objective factors specified in Section 1, Article 11 of the Circular No. 26.
- The government’s direct interventions in the Deposit Insurance of Vietnam’s total revenue minus total expenses
- Deposit Insurance of Vietnam has to pay depositors' premiums to deposit insurance providers, which shrinks the investment fund (due to the decrease in the specialized reserve fund).
Deposit Insurance of Vietnam has to reassess its actualization of objective factors affecting the labor output and total turnover minus total expenses attained in comparison with those planned in order to remove such factors from the calculation of the actual salary budget for employees.
3. Determination of salary budget in Vietnam Military Telecommunications Group
Pursuant to the Circular No. 33/2016/TT-BLDTBXH the salary budget of the Parent Enterprise of Vietnam Military Telecommunications Group is determined as follows:
- Annual salary budget planned = Salary rate fixedly prescribed X Total planned revenue minus total salary-excluded expenses.
- Annual salary budget allocated = Salary rate fixedly prescribed X Total revenue attained minus total salary-excluded expenses.
4. Circular No. 30/2016/TT-BLDTBXH on guidelines for the delivery of hazard allowance for officials, public employees and workers administrating martyrs’ cemeteries.
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