What is promulgation of Circular detailing the Law on Emulation and Commendation in finance applicable from February 15, 2024 in Vietnam?
Please ask: What is promulgation of Circular detailing the Law on Emulation and Commendation in finance applicable from February 15, 2024 in Vietnam? Question from Mr. Quan (Hanoi)
What is promulgation of Circular detailing the Law on Emulation and Commendation in finance applicable from February 15, 2024 in Vietnam?
On December 29, 2023, the Minister of Finance issued Circular 79/2023/TT-BTC detailing a number of articles of the Law on Emulation and Commendation in the financial sector.
Circular 79/2023/TT-BTC takes effect from February 15, 2024 and also abolishes Circular 17/2019/TT-BTC regulating the awarding of the Medal "For the cause of Vietnam's Finance" issued by Issued by the Minister of Finance.
In Clause 2, Article 1, Circular 79/2023/TT-BTC stipulates that the Circular details the Law on Emulation and Reward in the financial sector applicable to the following subjects:
- Officials, civil servants, public employees, workers and collectives in units under and under the Ministry and Finance sector;
- Other individuals and groups with achievements in contributing to the construction and development of the Ministry and Finance sector.
What is promulgation of Circular detailing the Law on Emulation and Commendation in finance applicable from February 15, 2024 in Vietnam? (Image from the Internet)
What are standards and subjects considered for awarding the title of Excellent Labor Collective in the financial sector in Vietnam?
Pursuant to Article 4 of Circular 79/2023/TT-BTC regulating standards and subjects considered for awarding the title of Excellent Labor Collective:
Standards and subjects considered for awarding the title "Excellent Labor Collective"
1. The title "Excellent Labor Collective" is awarded annually to collectives that meet the standards prescribed in Clause 1, Article 27 of the Law on Emulation and Commendation 2022.
2. Subjects considered for awarding the title "Excellent Labor Collective" are units belonging to and directly under the Ministry of Finance, units under the Ministry of Finance's reward line, including:
a) Collectives specified in Points a, b, c, d, dd, e, h and i, Clause 1, Article 3 of this Circular;
b) Faculties, departments, divisions and equivalents belonging to the units specified in Points a, c, d, dd, e and h, Clause 1, Article 3 of this Circular.
According to this Article, the subjects and criteria for awarding the title of Excellent Labor Collective in the financial sector are stipulated as follows:
(1) Subject
Subjects considered for awarding the title "Excellent Labor Collective" are units belonging to the Ministry of Finance, units under the Ministry of Finance's reward line, including:
- Departments, Bureaus, Offices, Inspectorates and equivalents under the Ministry of Finance;
- General Department and equivalent under the Ministry of Finance (General Department of Taxation, General Department of Customs, General Department of State Reserve, State Treasury and State Securities Commission);
- Institute of Financial Strategy and Policy, Vietnam Financial Times, Finance Magazine, Finance Publishing House, School of Training for Financial Officers and Ministry of Finance Guest House;
- Academy of Finance, University of Finance - Marketing, University of Finance - Accounting and University of Finance - Business Administration;
- Departments, Bureaus, Inspectorates, Offices and equivalents under the General Department of the Ministry of Finance;
- Department of Taxation, Department of Customs, Department of State Reserve, State Treasury under the General Department of the Ministry of Finance in provinces and centrally run cities;
- Enterprises directly under the Ministry; associations and associations under the Ministry of Finance's reward line; Bao Viet Group and its affiliated units;
- Tax Department, Customs Branch, State Reserve Department and equivalent, State Treasury of districts, towns, provincial cities, and centrally run cities.
- Faculties, departments, divisions and equivalents belong to the following units:
+ Departments, Bureaus, Offices, Inspectorates and equivalents under the Ministry of Finance;
+ Institute of Financial Strategy and Policy, Vietnam Financial Times, Finance Magazine, Finance Publishing House, School of Training for Financial Officers and Ministry of Finance Guesthouse;
+ Academy of Finance, University of Finance - Marketing, University of Finance - Accounting and University of Finance - Business Administration;
+ Departments, Bureaus, Inspectorates, Offices and equivalents directly under the General Department of the Ministry of Finance;
+ Tax Department, Customs Department, State Reserve Department, State Treasury under the General Department of the Ministry of Finance in provinces and centrally run cities;
+ Enterprises directly under the Ministry; associations and associations under the Ministry of Finance's reward line; Bao Viet Group and its affiliated units;
(2) Standards
The title "Excellent Labor Collective" is awarded annually to collectives that meet the following standards:
- Excellent completion of assigned tasks;
- Actively participate in regular, practical and effective emulation movements;
- 100% of individuals in the collective complete assigned tasks, including at least 70% of individuals achieving the title "Advanced Laborer";
- There is an individual who won the title of "Grassroots Emulation Soldier";
- Internal solidarity, exemplary compliance with the Party's guidelines, policies and laws of the State.
What is bonus level associated with the title of Excellent Labor Collective in the financial sector in Vietnam?
Pursuant to Article 69 of Decree 91/2017/ND-CP stipulating the level of bonus for emulation titles:
Emulation title bonus level
...
2. For collectives:
a) The title of "Excellent Labor Collective", "Determined-to-Win Unit" is awarded with a Certificate and a bonus of 1.5 times the base salary;
...
According to this Article, for a collective that wins the emulation title of Excellent Labor Collective in the financial sector, the accompanying bonus is equal to 1.5 times the base salary of 2,700,000 VND.
The current base salary is 1,800,000 VND/month (according to Article 3 of Decree 24/2023/ND-CP )
Best regards
