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THE MINISTRY OF
LABOR, WAR INVALIDS AND SOCIAL AFFAIRS
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SOCIALIST
REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
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No.
37/2016/TT-BLDTBXH
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Hanoi, October
25, 2016
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CIRCULAR
ON GUIDELINES FOR
THE MANAGEMENT OF EMPLOYMENT, WAGES, REMUNERATION AND BONUSES PAID TO EMPLOYEES
WORKING IN VIETNAM ASSET MANAGEMENT COMPANY
Pursuant to the Decree No. 106/2012/ND-CP dated
December 20, 2012 by the Government, defining the functions, tasks, powers and
organizational structure of the Ministry of Labor, War Invalids and Social
Affairs;
Pursuant to Decree No. 53/2013/ND-CP dated May
18, 2013 by the Government on the establishment, organization and operation of
Vietnam Asset Management Company; Decree No. 34/2015/ND-CP dated March 31, 2015
and the Government's Decree No. 18/2016/ND-CP dated March 18, 2016 on
amendments to Decree No. 53/2013/ND-CP dated May 18, 2015 by the Government on
the establishment, organization and operation of Vietnam Asset Management
Company;
Pursuant to the Government's Decree No.
51/2016/ND-CP dated June 13, 2016 on management of employees, wages,
remuneration, and bonuses paid to employees in single-member limited liability
companies of which charter capital is wholly owned by the State; the
Government's Decree No. 52/2016/ND-CP dated June 13, 2016 on management of
employees, wages, remuneration, and bonuses paid to managers in single-member
limited liability companies of which charter capital is wholly owned by the
State;
At the request of Director of Department of
Labor and Wage;
The Minister of Labor, War Invalids and Social
Affairs promulgates the Circular guiding the management of employment, wages,
remuneration, and bonuses paid to employees working in Vietnam Asset Management
Company.
Section 1. GENERAL PROVISIONS
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This Circular provides guidelines for the
management of employment, wages, remunerations and bonuses paid to employees,
the President of the Board of members, members of the Board of members, the
General Director, the Deputy General Director, the Chief accountant, the Leader
of the Control Board and members of the Control Board in Vietnam Asset
Management Company (hereinafter referred to as VAMC).
Article 2. Regulated entities
1. Any employee working under
a labor contract as prescribed in the Labor Code.
2. The President of the Board
of members and members of the Board of members, the General Director, the
Deputy General Director, the Chief accountant, the Leader of the Control Board
and members of the Control Board.
3. Any agency, organization or
individual relating to the management of employment, wages, remunerations and
bonuses prescribed in this Circular.
Section 2. MANAGEMENT OF EMPLOYMENT, WAGES AND
BONUSES PAID TO EMPLOYEES
Article 3. Management of employment, planned
wage fund, wage rate, wage advances, realized wage funds and distribution of
wages and bonuses
1. VAMC carries out the
management of employment, determination of planned wage fund, wage rate, wage
advances, realized wage fund and distribution of wages and bonuses to employees
as prescribed in Section 2; Articles 9, 10, 13 Section 3 and Section 4 of
Circular No. 26/2016/TT-BLDTBXH dated September 9, 2016 by the Ministry of
Labor, War Invalids and Social Affairs on guidelines for the management of
employment, wages and bonuses paid to employees in single-member limited
liability companies of which charter capital is wholly owned by the State
(hereinafter referred to as Circular No. 26/2016/TT-BLDTBXH).
2. When determining the
planned average wage amount and realized average wage amount for the purpose of
identifying the planned wage fund, realized wage fund as prescribed in Article
9 and Article 14 of Circular No. 26/2016/TT-BLDTBXH, VAMC shall determine the
average productivity and profits as follows:
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b) The profit (planned or realized in the mentioned
year or realized in the preceding year) is replaced with the “collected debts
bought with special bonds”.
Article 4. Exclusion of objective factors when
determining planned and realized wage fund for employees
1. When determining planned
and realized wage funds for employees, VAMC may exclude the objective factors
affecting their productivity, collected money and bad debts bought with special
bonds, including:
a) Objective factors prescribed in Article 11 of
Circular No. 26/2016/TT-BLDTBXH.
b) The State decides to directly affect the amount
of collected bad debts bought with special bonds or directly affect the
purchase of bad debts and security property; adjust the ratio calculated
according to the amount collected from bad debts bought by VAMC with special
bonds and adjust the ratio calculated according to the remaining balance of the
debts VAMC bought with special bonds.
c) VAMC provides new investments in business
(excluding investments, repair and upgrading of security properties VAMC has
bought for building headquarters or for lease).
2. The exclusion of objective
factors specified in Clause 1 of this Article shall be carried out as follows:
a) Productivity, recovered amount of bad debts
bought with special bonds affected by objective factors shall be quantified and
calculated with specific figures.
b) Any objective factors decreasing (or increasing)
the productivity and/or the recovered amount of bad debts bought with special
bonds is eligible for the addition (or deduction) of the corresponding
productivity and/or the recovered amount of bad debts bought with special bonds
decreased (or increased) to the productivity standard and/or the recovery
amount of bad debts bought with special bonds in the year.
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Section 3. MANAGEMENT OF WAGES, REMUNERATION AND
BONUSES OF BOARD OF MEMBERS, GENERAL DIRECTOR, DEPUTY GENERAL DIRECTOR, CHIEF
ACCOUNTANT AND THE CONTROL BOARD MEMBERS
Article 5. Determination of wages of President
of the Board of members and members of the Board of members, the General
Director, the Deputy General Director, the Chief accountant, the Leader of the
Control Board and members of the Control Board
President of the Board of members, full-time
members of Board of members, General Director, Deputy General Director, Chief
accountant, Head of Control Board, and members of Control Board of VAMC shall
have their wages determined in accordance with Circular No. 27/2016/TT-BLDTBXH
dated September 1, 2016 by the Ministry of Labor, War Invalids and Social
Affairs on guidelines for wages, remuneration and bonuses paid to managers in
single-member limited liability companies of which charter capital is wholly
owned by the State (hereinafter referred to as Circular No.
27/2016/TT-BLDTBXH).
Article 6. Determination of fund for wages,
remuneration, bonuses and payment of wages, remuneration and bonuses
1. Planned wage/remuneration
fund; realized wage/remuneration fund, bonus fund; payment of
wages/remuneration, bonuses for President of the Member assembly and members of
Member assembly, the General Director, Deputy General Director, Chief
accountant, Leader and members of the Control Board shall be determined in
accordance with regulations in Articles 3, 9, 10, 11, 12, 14, 15, 16, 17, 18
and 19 of Circular No. 27/2016/TT-BLDTBXH.
2. Requirements of
determination of the fund for wages/remuneration under plan, fund for
wages/remuneration for implementation specified in Clause 1 of this Article:
a) The average productivity and profits as the
basis for the determination of funds for wages/remuneration and the average
wages shall be calculated according to regulations in Clause 2 Article 3 of
this Circular;
b) The exclusion of objective factors affecting the
productivity and the recovery amount of bad debts bought with special bonds
shall comply with regulations in Article 4 of this Circular.
Section 4. IMPLEMENTATION
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1. The General Director of
VAMC shall fulfill tasks prescribed in Article 17 of Circular No.
26/2016/TT-BLDTBXH.
2. Responsibilities of the
Member assembly of VAMC:
a) Fulfill the tasks specified in Article 18 of
Circular No. 26/2016/TT-BLDTBXH and Article 20 of Circular No.
27/2016/TT-BLDTBXH. Send the reports on wages and bonuses to the owner’s
representative and the Ministry of Labor, War Invalids and Social Affairs for
general supervision.
b) Determine the amount of wages/bonuses for the
Leader and members of the Control Board as prescribed in this Circular and
submit a part of it to pay to the owner’s representative according to the
performance of each person.
3. The Leader and members of
the Control Board shall conduct inspection, supervision, appraisal and shall
make proposal for the management of employees, wages, remuneration, and bonuses
similarly to the role of the Controller according to regulations in Article 19
of Circular No. 26/2016/TT-BLDTBXH and Article 21 of Circular No.
27/2016/TT-BLDTBXH and in accordance with Charter of organization and operation
of VAMC.
4. Responsibilities of the
owner’s representative of VAMC (the State Bank):
a) Fulfill the tasks specified in Article 20 of
Circular No. 26/2016/TT-BLDTBXH and Article 22 of Circular No.
27/2016/TT-BLDTBXH. Give statements on the annual fund for wages and bonuses to
VAMC and concurrently forward them to the Ministry of Labor, War Invalids and
Social Affairs for general supervision.
b) Receive, review, and give comments about the
objective factors (if any) as prescribed in this Circular as the basis for VAMC
to determine wage amounts paid to employees and wage and remuneration amounts
paid to managers.
c) Carry out the management and assessment, pay
wages, remuneration and bonuses and comply with policies applicable to the
Leader and members of the Control Board of VAMC similarly to the role of the
Head of Control Board and Controllers according to regulations in Article 19 of
Circular No. 27/2016/TT-BLDTBXH.
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1. This Circular comes into
force from December 10, 2016. Policies specified in this Circular shall take
effect from January 1, 2016.
2. Circular No.
31/2015/TT-BLDTBXH dated August 31, 2015 of the Ministry of Labor, War Invalids
and Social Affairs on guidelines for management of employment, wages,
remuneration and bonuses in VAMC shall be annulled from the effective date of
this Circular.
3. The full-time managers
shall keep having their wages determined according to the wage levels
prescribed by VAMC. After 3 years from the effective date of this Circular,
VAMC shall carry out the determination of wage levels as prescribed in
statutory regulations of the State.
4. VAMC shall apply the rate
of meal allowance between shifts paid to employees and managers as prescribed
in Clause 4, Article 22 of Circular No. 26/2016/TT-BLDTBXH and Clause 4,
Article 25 of Circular No. 27/2016/TT-BLDTBXH.
Difficulties that arise during the implementation
of this Circular should be reported to the Ministry of Labor, War Invalids and
Social Affairs for consideration
PP. MINISTER
DEPUTY MINISTER
Doan Mau Diep
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