Do employees get bonuses for 2024 New Year Holiday in Vietnam?

Do employees get bonuses for 2024 New Year Holiday in Vietnam?

Pursuant to Article 104 of the Labor Code in 2019 stipulating bonuses as follows:

Bonuses

1. A bonus means an amount of money, a piece of property or item that is provided by an employer for his/her employees on the basis of the business performance or the employees’ performance.

2. A bonus regulation shall be decided and publicly announced at the workplace by the employer after consultation with the representative organization of employees (if any).

Therefore, the bonus for Lunar New Year 2024 for employees is not mandatory and will depend on the bonus regulations decided by each company.

The company will base on the production, business results, and the level of work completion of employees to decide whether to give Lunar New Year bonus to employees or not.

Is it permissible for employees in Vietnam to receive salary advances in 2024 New Year Holiday in Vietnam?

Pursuant to Article 101 of the Labor Code in 2019 stipulating salary advances as follows:

Salary advances

1. An employee may receive an interest-free salary advance in accordance with conditions agreed on by the two parties.

2. The employer must make the advance payment to the employee for the number of days the employee temporarily leaves his/her work in order to perform duties of citizens for a period of 01 week or longer, but the advance shall not exceed 01 month’s salary. The employee must reimburse the advance.

An employee who is conscripted in accordance with the Law on Conscription may not receive salary advance.

3. When taking annual leave, an employee shall receive an advance payment of at least salary for the entitled days of leave.

As regulations above, an employee may receive a salary advance in 2024 New Year Holiday in accordance with conditions agreed on by the employers

How much is the overtime pay for employees working during the day on 2024 New Year Holiday in Vietnam?

Pursuant to Article 112 of the Labor Code in 2019 stipulating public holidays as follows:

Public holidays

1. Employees shall be entitled to fully paid days off on the following public holidays:

a) Gregorian Calendar New Year Holiday: 01 day (the 1^st of January of the Gregorian calendar);

b) Lunar New Year Holidays: 05 days;

c) Victory Day: 01 day (the 30^th of April of the Gregorian calendar);

d) International Labor Day: 01 day (the 1^st of May of the Gregorian calendar);

dd) National Day: 02 days (the 2^nd of September of the Gregorian calendar and the previous or next day);

e) Hung Kings Commemoration Day: 01 day (the 10^th of the third month of the Lunar calendar).

2. Foreign employees in Vietnam are entitled to 01 traditional public holiday and 01 National Day of their country, in addition to the public holidays stipulated in Clause 1 of this Article.

3. The Prime Minister shall decide the specific public holidays mentioned in Point b and Point dd Clause 1 of this Article on an annual basis.

Pursuant to Article 98 of the Labor Code in 2019 stipulating overtime pay, night work pay as follows:

Overtime pay, night work pay

1. An employee who works overtime will be paid an amount based on the piece rate or actual salary as follows:

a) On normal days: at least 150%;

b) On weekly days off: at least 200%;

c) During public holidays, paid leave, at least 300%, not including the daily salary during the public holidays or paid leave for employees receiving daily salaries.

2. An employee who works at night will be paid an additional amount of at least 30% of the normal salary.

3. An employee who works overtime at night will be paid, in addition to the salary specified in Clause 1 and Clause 2 of this Article, an amount of at least 20% of the day work salary of a normal day, weekend or public holiday.

4. The Government shall elaborate this Article.

As regulations above, if employees work overtime during the day on 2024 New Year Holiday in Vietnam, employees will receive a salary of at least 300%, not including the salary for public holidays, Tet holidays, and days off with pay for employees who are paid on a daily basis.

Best regards!