Regulation on Salary and Bonus Payments of the State Corporation from April 1, 2020

Illustration (source: internet)

To be specific:, Decree 20/2020/ND-CP stipulates that employees and the General Director, Deputy General Directors, Chief Accountant (hereinafter referred to as the Executive Board) are paid salaries and bonuses according to the regulations of the parent company - Vietnam Posts and Telecommunications Group; Parent company - Vietnam Airlines Corporation - JSC; Parent company - Vietnam Air Traffic Management Corporation as follows:

- The salary and bonus regulations issued by the Chairman of the Members' Council, Board of Directors must ensure democracy, transparency, and the participation of the organization representing the collective labor at the facility.

- Salaries and bonuses for employees are based on the job or title and the results of job performance. Salaries and bonuses for the Executive Board are based on the assumed position, linked to profit, return on equity, and the performance results of each individual; where the salaries and bonuses for the General Director do not exceed 7 times the average salary and bonus of the employees. For a General Director hired under a labor contract, the terms of the labor contract will be followed.

- The General Director evaluates and decides the salary and bonus levels for employees; the Members' Council, Board of Directors evaluates and decides the salary and bonus levels for the General Director, Deputy General Directors, Chief Accountant.

See the full text of the regulations at Decree 20/2020/ND-CP effective from April 01, 2020.

Thu Ba

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE