Tet Bonus 2016: Things Employees Need to Know

According to Article 103 of the Labor Code 2012, bonuses are monetary rewards that the employer gives to the employee based on the annual business production results and the level of job completion by the employee. The bonus regulation is decided by the employer and publicly announced at the workplace after consulting with the representative organization of the labor collective at the establishment.

This means that the lunar New Year bonus will be based on the agreement between the employer and the employee through labor contracts and collective labor agreements. The payment of the lunar New Year bonus is not a mandatory regulation that businesses have to implement but encourages employers to adopt the best incentive policies for employees to enhance production.

Each enterprise can base on the situation and production business results to decide the bonus level for the employee based on the labor contract or accumulating apprenticeship time, probation period, etc.

This year, due to difficult economic conditions, many businesses are still considering giving Tet bonuses to employees; many businesses are in a situation of owing salaries to employees for several consecutive months. To avoid the situation of businesses owing salaries and delaying bonuses for employees during Tet, the Ministry of Labor, War Invalids, and Social Affairs has issued documents urging localities to check and report the salary and bonus situation at businesses to the Ministry before December 30.

Regarding the employees' benefits during holidays and Tet, according to the Labor Code, employees are entitled to leave with full pay on the following holidays and Tet:

New Year’s Day: 01 day (January 01);

Lunar New Year: 05 days;

Victory Day: 01 day (April 30);

International Labor Day: 01 day (May 01);

National Day: 01 day (September 02);

Hung Kings’ Commemoration Day: 01 day (March 10 lunar calendar).

Foreign employees working in Vietnam, in addition to the holidays as stipulated, are entitled to one traditional New Year's day of their country and one National Day of their country.

If the stipulated holidays coincide with the weekly day off, employees are entitled to take leave on the following day.

According to Dan Tri Newspaper

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE