Note when determining the salary fund of Vietnam Deposit Insurance
On October 25, 2016, the Ministry of Labor - Invalids and Social Affairs of Vietnam issued Circular No. 32/2016/TT-BLĐTBXH on guidelines for the management of employees and remunerations in Deposit Insurance of Vietnam.
Article table of contents
According to Circular No. 32/2016/TT-BLĐTBXH of the Ministry of Labor - Invalids and Social Affairs of Vietnam, Deposit Insurance of Vietnam shall specify the average labor output and profit in the following manner upon planning the average salary level and salary budget and defining the salary budget attained:
- The average labor output shall be based on the total turnover minus the salary-excluded total expenses according to the guidelines annexed to Circular No. 26/2016/TT-BLĐTBXH.
- Profit is replaced by the total turnover minus total expenses.
The total turnover that computes labor output and profit shall consist of the total revenues from annual investments of idle funds before recorded as income; revenues from the deposit insurance operation and revenues from other activities as defined in financial management regulations of Deposit Insurance of Vietnam.
View more details at Circular No. 32/2016/TT-BLĐTBXH of the Ministry of Labor - Invalids and Social Affairs of Vietnam, effective from December 10, 2016.
- Thanh Lam -
- Key word:
- Circular No. 32/2016/TT-BLĐTBXH
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