MINISTRY OF
LABOUR, WAR INVALIDS AND SOCIAL AFFAIRS
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SOCIALIST
REPUBLIC OF VIETNAM
Independence – Freedom – Happiness
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No.:
04/2018/TT-BLDTBXH
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Hanoi, June 22,
2018
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CIRCULAR
AMENDMENTS TO
CIRCULAR NO. 37/2016/TT-BLDTBXH DATED OCTOBER 25, 2016 PROVIDING GUIDELINES FOR
MANAGEMENT OF EMPLOYEES, WAGES, REMUNERATIONS AND BONUSES PAID TO EMPLOYEES
WORKING IN VIETNAM ASSET MANAGEMENT COMPANY
Pursuant to the Government’s Decree No.
14/2017/ND-CP dated February 17, 2017 defining the functions, tasks, powers and
organizational structure of the Ministry of Labour, War Invalids and Social
Affairs;
Pursuant to the Government’s Decree No.
53/2013/ND-CP dated May 18, 2013 on the establishment, organization and
operation of Vietnam Asset Management Company; the Government’s 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 the Government’s Decree No.
53/2013/ND-CP dated May 18, 2013 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,
remunerations and bonuses paid to employees working 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 providing for salary,
remuneration and bonus payment to managers of single-member limited liability
companies of which charter capital is wholly owned by the State;
At the Director General of the Department of
Industrial Relations and Wage;
The Minister of Labour, War Invalids and Social
Affairs promulgates the Circular providing amendments to Circular No.
37/2016/TT-BLDTBXH dated October 25, 2016 providing guidelines for management
of employees, wages, remunerations and bonuses paid to employees working in
Vietnam Asset Management Company.
Article 1. Amendments to Circular No.
37/2016/TT-BLDTBXH dated October 25, 2016 providing guidelines for management
of employees, wages, remunerations and bonuses paid to employees working in
Vietnam Asset Management Company (VAMC)
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“b. The profit (planned or realized in the current
year or previous year) is replaced by the difference between revenues and
expenses (total revenue minus total expenses).”2 . Article 4 of Section 2 is
amended as follows:
“1. When determining planned and realized salary
budgets for employees, VAMC may disregard objective factors that may cause
impacts on labor productivity or the difference between revenues and expenses,
including:
a) Impacts of objective factors specified in
Article 11 of the Circular No. 26/2016/TT-BLDTBXH..
b) The State decides to make intervention that
directly affects the difference between revenues and expenses, or the purchase
or sale of bad debts and collaterals; adjust the ratio calculated according to
the amount collected from bad debts bought by VAMC with special bonds; adjust
the ratio calculated according to the closing balance of the debts bought by
VAMC with special bonds.
c) VAMC makes new investments in business
(excluding investments, repair and upgrading of collaterals which VAMC has
bought for establishing business offices or for lease).
2. Disregarding of objective factors specified in
Clause 1 of this Article shall be carried out as follows:
a) The labor productivity or the difference between
revenues and expenses that is affected by such objective factors must be
quantified and expressed in specific figures.
b) When calculating the annual labor productivity
or the difference between revenues and expenses, VAMC may add (or deduct) the
amount of labor productivity or the difference between revenues and expenses
decreased (or increased) due to such objective factors.
c) On determining its realized salary budget, VAMC
must take into account the objective factors that may cause impacts on the
labor productivity or the difference between revenues and expenses compared
with the planned ones.”
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“b. Disregarding of objective factors that may
cause impacts on the labor productivity or the difference between revenues and
expenses is carried out under regulations of Article 4 of this Circular.”.
Article 2. Implementation
This Decree comes into force as from August 15,
2018. Regulations specified in this Circular shall be applied as from January
01, 2018.
Difficulties that arise during the implementation
of this Circular should be promptly reported to the Ministry of Labour, War
Invalids and Social Affairs for consideration.
PP. MINISTER
DEPUTY MINISTER
Doan Mau Diep