The exclusion of objective factors when determining salary budget to employees in state companies in Vietnam
What is the implementation of exclusion of objective factors when determining salary budget to employees in state companies in Vietnam? Thank you.
The exclusion of objective factors when determining salary budget to employees in state companies in Vietnam (Image from the Internet)
The exclusion of objective factors when determining salary budget to employees in state companies is stipulated in Article 5 of Circular 31/2016/TT-BLDTBXH as follows:
1. Objective factors which affect the securities trading organization’s labor productivity and profit prescribed in Article 11 of the Circular No.26/2016/TT-BLDTBXH shall be ignored.
2. In addition to objective factors prescribed in clause 1 of this Article, there are also those causing decreases or increases in revenues from securities activities that affect labor productivity or profits. To be specific:
a) The Stock Exchange’s revenue from securities activities is affected by the variations of the number of companies that are listed, register for transactions and have abilities to meet listing requirements; trading volume and price; number of trading members; value of wining bonds, capital mobilization by issuing bonds; price of Government bonds, treasury bills; value of securities ownership transfer via transaction system of the Stock Exchange; auctioned share volume and value; account balance and transferred balance of future contracts and value of mortgaged assets.
b) For Securities Depositories, their revenue from securities activities is affected by: Volume of annual realized deposited securities; value of first-time registered Government securities in the year and number of stakeholders and number of additional registration; face value and coupon of bonds , treasury bills; the number of times for exercising rights and corresponding number of stakeholders, number and value of security transfer ; value of transfer of security ownership over-the counter of the Stock Exchange; number of depository members, number of correction of securities trading errors, account balances for future contracts; transferred balance of future contracts and value of mortgaged assets.
For the purpose of determination of average pay rate and payroll budget, in case the revenue from securities activities increases by 7% or more due to objective factors prescribed in point a and b, clause 2 of this Article, the revenue in excess to 7% increase shall not be included in the revenue from securities activities, which is the basis for determination of labor productivity and profit. Where the revenue from securities activities decreases by 3 % or more, it shall be taken into account as the basis for determination of labor productivity and profit.
Above is the content of the regulations on exclusion of objective factors when determining salary budget to employees in state companies. For more information, you can refer to Circular 31/2016/TT-BLDTBXH.
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