Legal Counselling

Vietnam: Guidelines for salary classification of comptrollers in State-owned enterprises

15:30, 03/08/2023

On October 25, 2016, the Ministry of Labor, War Invalids and Social Affairs of Vietnam issued Circular No. 31/2016/TT-BLĐTBXH on guidance on management of employees, salary, remuneration and bonus by organizations that are incorporated and operate as wholly state-owned single-member limited liability companies under the Law on Securities.

According to Circular No. 31/2016/TT-BLĐTBXH of the Ministry of Labor, War Invalids and Social Affairs of Vietnam, salary classification, comptrollers’ salaries and bonuses in organizations that are incorporated and operate as wholly state-owned single-member limited liability companies are carried out as follows:

- Comptroller’s salaries shall be classified according to the pay scale and payroll compiled by the securities trading organization under Decree No. 49/2013/ND-CP of Vietnam’s Government and Circular No. 17/2015/TT-BLĐTBXH.

- Comptrollers’ salaries and bonuses shall be paid from employee payroll and bonus budget as stipulated in Article 4 of Circular No. 31/2016/TT-BLĐTBXH.

- According to regulations on bonus and salary payment, the Board of Directors shall give salary advances, determine and pay salaries and bonuses to comptrollers based on the performance of the control Board and specific comptrollers.

View more relevant provisions at Circular No. 31/2016/TT-BLĐTBXH of the Ministry of Labor, War Invalids and Social Affairs of Vietnam, effective from December 10, 2016.

- Thanh Lam -

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