New Year's Eve 2024: Will Employees Be Given Lunar New Year 2024 Off? Countdown to New Year's Eve 2024
Countdown to New Year's Eve 2024?
According to the Gregorian calendar, New Year's Eve 2024, which falls on the 30th day of the Lunar calendar, will fall on February 9, 2024 (Friday). This is a very special and sacred moment, marking the transition from the old year (Quy Mao) to the new year (Giap Thin) according to the Lunar calendar.
Countdown to New Year's Eve 2024
| Countdown Date | Lunar New Year 2024 || --- | --- || January 22, 2024 | 17 days left until Lunar New Year 2024
(New Year's Eve falls on February 9, 2024) |
Will workers get a break for Lunar New Year 2024? Countdown to New Year's Eve 2024? (Image from the internet)
Will workers get a break for Lunar New Year 2024?
According to the provisions of Article 112 of the Labor Code 2019, employees are entitled to a 5-day paid leave during the Lunar New Year.
Additionally, in Section 5 of Notice 5015/TB-LDTBXH 2023, the options for Lunar New Year 2024 leave for employees are clearly stated as follows:
- For the Lunar New Year holiday: choose 1 day at the end of Quy Mao year and 4 days at the beginning of Giap Thin year, or 2 days at the end of Quy Mao year and 3 days at the beginning of Giap Thin year, or 3 days at the end of Quy Mao year and 2 days at the beginning of Giap Thin year.
- Notify employees of the Lunar New Year holiday plan at least 30 days before implementation.
- If weekly rest days coincide with public holidays and Tet as stipulated in Clause 1, Article 112 of the Labor Code 2019, employees are entitled to compensatory rest on the next working day as specified in Clause 3, Article 111 of the Labor Code 2019.
- Employers are encouraged to apply the Lunar New Year holiday period for employees as stipulated for officials and public employees.
Hence, as per the above content, employees are entitled to a break for Lunar New Year 2024 according to the regulations.
How will employees' wages be calculated if they work on Lunar New Year 2024?
According to Article 98 of the Labor Code 2019, which stipulates overtime and night work wages:
Overtime and night work wages
1. Employees working overtime shall be paid according to the unit price or the actual wage for the work being performed as follows:
a) On regular days, at least 150%;
b) On weekly rest days, at least 200%;
c) On public holidays, Tet, and paid leave days, at least 300% not including the daily wage for public holidays, Tet, and paid leave days for employees on daily wage.
2. Employees working at night shall be paid an additional at least 30% of the wage calculated according to the unit price or the actual wage for regular working days.
3. Employees working overtime at night shall be paid an extra 20% in addition to the wages stipulated in Clause 1 and Clause 2 of this Article, according to the unit price or the actual wage of day work on regular days, weekly rest days, or public holidays, Tet.
4. The Government of Vietnam stipulates this Article in detail.
In case employees work on Tet holidays, they are entitled to a wage of at least 300% not including the daily wage for Tet holidays for employees on daily wage.
Additionally, employees working at night will be paid at least an additional 30% of the wage for regular working days and 20% of the wage for Tet holidays.
Thus, for working on Lunar New Year 2024, wages are calculated as follows:
- Working during the day: Receive at least 400% of the wage.- Working at night: Receive at least 490% of the wage.
Simultaneously, according to Point i, Clause 1, Article 3 of Circular 111/2013/TT-BTC stipulating:
Tax-exempt income
...
i) Income from wages, salaries for night work, overtime pay higher than the wages, salaries for daytime work according to the Labor Code. Specifically as follows:
i.1) The portion of wages, salaries higher due to night work, overtime pay is tax-exempt. Based on actual paid wages, salaries for night work, overtime pay minus (-) the regular working day wage, salary.
Example 2: Mr. A has a regular working day wage according to the Labor Code of 40,000 VND/hour.
In case the individual works overtime on regular days, the individual is paid 60,000 VND/hour, the tax-exempt income is:
60,000 VND/hour – 40,000 VND/hour = 20,000 VND/hour
In case the individual works overtime on rest days or holidays, the individual is paid 80,000 VND/hour, the tax-exempt income is:
80,000 VND/hour – 40,000 VND/hour = 40,000 VND/hour
...
Thus, according to the above regulations, the portion of wages, salaries higher due to night work, overtime pay is tax-exempt, based on the actual paid wages, salaries for night work, overtime pay minus (-) the regular working day wages, salaries.
Therefore, according to the above regulations, the portion of income paid for working on holidays, Tet, which is higher than regular days, is tax-exempt. The portion of income paid as regular working days is subject to personal income tax.
Example: Mr. A has a regular working day wage according to the Labor Code of 40,000 VND/hour.
- In case the individual works overtime on regular days, the individual is paid 60,000 VND/hour, the tax-exempt income is:
60,000 VND/hour – 40,000 VND/hour = 20,000 VND/hour
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