Vietnam: Regulations on wage unit of the Viettel Group

20:52, 10/07/2024

Here is the notable content stipulated in Circular 33/2016/TT-BLDTBXH guiding the pilot implementation of labor and wage management for the Viettel Group during the period of 2016-2020.

According to the regulations in Circular 33/2016/TT-BLDTBXH, the parent company - Viettel Group is assigned to stabilize the wage unit price calculated based on the total revenue minus total costs excluding wages for the period 2016 - 2020. When implementing the wage unit price, the following conditions must be fully met:

- Successfully complete the national defense and security tasks assigned by the Communist Party and the State.

- Pay state budget according to the provisions of the law.

- The average wage increase rate (in percentage) must be lower than the average labor productivity increase rate (in percentage).

- The annual actual profit must be at least 3% higher than the actual profit of the previous year.

According to Circular 33/2016/TT-BLDTBXH, the planned wage fund is determined as follows:

Vkhdg = Vdgod x Ckh

In which:

- Vkhdg: Planned wage fund.

- Vdgođ: Assigned stabilized wage unit price.

- Ckh: Total revenue minus total planned costs excluding wages.

More details can be found in Circular 33/2016/TT-BLDTBXH effective from December 10, 2016.

- Thanh Lam -

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