The Vietnam Ministry of Finance has just issued Circular 07/2020/TT-BTC stipulating policies on financial and asset management for overseas Vietnamese agencies.
Illustrative image (source: internet)
According to Circular 07/2020/TT-BTC, members of overseas Vietnamese agencies who work at night or overtime are arranged for compensatory rest; in cases where compensatory rest cannot be arranged, the Head of the overseas Vietnamese agency approves support for night work and overtime as prescribed in Joint Circular 08/2005/TTLT-BNV-BTC dated January 5, 2005, of the Ministry of Home Affairs and the Ministry of Finance. To be specific:
Night work or overtime allowance |
= |
Curent living expenses x overtime hours x 150% (or 200%, 300%) |
22 days x 8 hours |
- 150% applies to overtime on normal working days;
- 200% applies to overtime on weekly rest days;
- 300% applies to overtime on Vietnamese holidays and Tet.
Note: The number of night work and overtime hours is regulated according to the current Labor Law. overtime allowance is not provided for cipher officers working on professional tasks.
Circular 07/2020/TT-BTC stipulates documents used as the basis for payment of overtime allowance include: Overtime notice stating the time, total number of overtime hours, and the content of extra work by the individual; overtime allowancement sheet confirmed by the Head of the overseas Vietnamese agency.
More details can be found in Circular 07/2020/TT-BTC effective from March 20, 2020.
Thu Ba
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