Before April 1 annually, Enterprises must disclose salary and bonus policies

Before April 1 every year, businesses must publish salary and bonus policies (Illustrative photo)

In Article 13 of Circular 02/2015/TT-BKHDT stipulates the procedure and content for disclosing business's salary and bonus policies as follows:

1. Procedure for announcing the business's salary and bonus policies:

- Enterprises must formulate and publicize their annual salary and bonus policies no later than March 31 every year and send it to the Authority executing the ownership rights and the Ministry of Planning and Investment within 05 working days after it is approved by the Board of Members or the Chairman of the company.

- The Authority executing the ownership rights must publish the enterprise's annual salary and bonus policies within five (05) working days from the date of receipt from the enterprise.

- The Ministry of Planning and Investment must publish the enterprise's annual salary and bonus policies on the Vietnam Business Information Portal of the Ministry of Planning and Investment (http://www.bussiness.gov.vn) within five (05) working days from the date of receipt from the enterprise.

2. Content for announcing the business's salary and bonus policies:

- Enterprises shall formulate their salary and bonus policies according to Form No. 4 of Appendix No. 4 attached to Circular 02/2015/TT-BKHDT.- The information disclosure must be conducted by the legal representative of the enterprise or an authorized person. The legal representative of the enterprise shall be responsible for the accuracy, promptness, and completeness of the information disclosed by the authorized person.

Thus, annually, enterprises must formulate and publicize their salary and bonus policies no later than March 31, that is, before April 1 every year.

More details can be found in Circular 02/2015/TT-BKHDT, effective from June 22, 2015.

Thuy Tram

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