Guidance on salary grading for managers of small and medium enterprise development fund in Vietnam

According to the Circular No. 34/2019/TT-BLĐTBXH of the Ministry of Labor, War Invalids and Social Affairs of Vietnam, salary grading for managers of small and medium enterprise development fund is guided as follows:

1. The Fund’s managers shall be entitled to respective pay grades, pay rise and changes in pay grades as prescribed in Section 2 of the Circular No. 27/2016/TT-BLDTBXH dated September 01, 2016 by the Ministry of Labor, War Invalids and Social Affairs on guidelines for wages, remunerations and bonuses paid to managers of wholly state-owned single-member limited liability companies (hereinafter referred to as the Circular No. 27/2016/TT-BLDTBXH).

2.  Standards for salary grading for the Fund’s managers shall  resemble standards for salary grading for managers of financial companies (Standard No. 56 applied to financial companies) issued together with the Joint Circular No. 23/2005/TTLT-BLDTBXH-BTC dated August 31, 2005 of the Ministry of Labor - Invalids and Social Affairs and the Ministry of Finance, guiding the salary ranking and  grading for full-time members of the Governing Board, General Directors, Directors, Deputy General Directors, Deputy Directors and Chief Accountants of state-owned companies, until the Government regulates the new salary regime applicable to wholly state-owned single-member limited liability companies of.

The Fund’s managerial personnel, including: Chairperson Board of Directors and members of the Board of Directors, Comptroller, Director, Deputy Director(s).

View more details at the Circular No. 34/2019/TT-BLĐTBXH of the Ministry of Labor, War Invalids and Social Affairs of Vietnam, effective from February 15, 2020.

Thuy Tram

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