Purpose of using the bonus and welfare funds of the Vietnam Development Bank

Purpose of using the bonus and welfare funds of the Vietnam Development Bank (Illustrative image)

To be specific: Circular 111/2007/TT-BTC stipulates the purpose of using the bonus fund of the Vietnam Development Bank to:

- Year-end or regular bonuses based on labor productivity and achievements of each officer and public employee working at the Vietnam Development Bank. The bonus level is decided by the General Director after consulting the written opinions of the Vietnam Development Bank’s Trade Union.

- Unexpected bonuses for individuals and collectives at the Vietnam Development Bank who have technical innovations or improved professional processes that bring about effectiveness. The bonus level is decided by the General Director.

- Bonuses for individuals and units outside the Vietnam Development Bank that have relationships, fulfill contract conditions well, and effectively contribute to the activities of the Vietnam Development Bank. The bonus level is decided by the General Director.

At the same time, the Welfare Fund is used to:

- Invest in construction or repairs, supplementing capital for constructing welfare projects of the Vietnam Development Bank, contributing capital to invest in common welfare projects within the industry, or with units as per the contractual agreement.

- Expenditures for sports, culture, and public welfare activities for the collective officers and public employees of the Vietnam Development Bank.

- Contributions to the social welfare fund, supporting associations.

- Regular or unexpected hardship allowances for officers and public employees of the Vietnam Development Bank.

- Expenditures for other welfare activities.

Note: The General Director decides the expenditure level after consulting the written opinions of the Vietnam Development Bank’s Trade Union.

See details at Circular 111/2007/TT-BTC effective on October 10, 2007.

Ty Na

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