Vietnam: How does the small and medium enterprise development fund formulate pay scale, chart and allowance or benefit packages?

14:20, 05/01/2020

This is an important content of the Circular No. 34/2019/TT-BLĐTBXH guiding management of labor, wages, remuneration and bonuses for small and medium enterprise development fund, issued by the Ministry of Labor, War Invalids and Social Affairs of Vietnam on December 30, 2019.

Circular 34 of Vietnam: Determination of pay and bonus packages for managers / Guidance on salary grading for managers of small and medium enterprise development fund in Vietnam

Quỹ phát triển DNNVV, Thông tư 34/2019/TT-BLĐTBXH

According to the Circular No. 34/2019/TT-BLĐTBXH of the Ministry of Labor, War Invalids and Social Affairs of Vietnam, pay scale, chart and allowance or benefit packages are guided as follows:

The Fund shall design and decide the pay scale, chart and allowance or benefit packages and make changes in pay grades for employees as stipulated in the Decree No. 49/2013/ND-CP dated 14 May 2013 of the Government, elaborating on some articles of the Labor Code on wages and salaries, and Circular No. 17/2015/TT-BLDTBXH dated 22 April 2015 of the Ministry of Labor - Invalids and Social Affairs, providing instructions for design and formulation of the pay scale, pay chart , allowance packages and pay grading or ranking for employees in state-owned one-member limited liability companies under the Government’s Decree No. 49/2013/ND-CP dated 14 May 2013, detailing the implementation of some articles of the Labor Code on wages and salaries.

Besides, the Fund shall carry out the management of employees in accordance with Section 2 of the Circular No. 26/2016/TT-BLDTBXH dated September 01, 2016 by the Ministry of Labor, War Invalids and Social Affairs, providing guidance on management of labor, salaries and bonuses paid to personnel working in wholly state-owned single-member limited liability companies.

View more details at the Circular No. 34/2019/TT-BLĐTBXH of the Ministry of Labor, War Invalids and Social Affairs of Vietnam, effective from February 15, 2020.

Thuy Tram

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