The Ministry of Labor, Invalids and Social Affairs is drafting a Circular guiding the implementation of labor management, wages, remuneration, and bonuses for the Credit Guarantee Fund for small and medium-sized enterprises.
Article table of contents
When determining the planned wage fund and the actual wage fund of employees, the enterprise must exclude objective factors affecting labor productivity and the Fund's income and expenditure difference according to the principles:
- Labor productivity and income and expenditure differences affected by objective factors must be quantified and calculated using specific data;- Objective factors that decrease (or increase) labor productivity and income and expenditure differences shall be added (or subtracted) corresponding to the decreased (or increased) labor productivity and income and expenditure differences to the targets of labor productivity and income and expenditure differences for the year;- When determining the actual wage fund, the fund must reassess the implementation of objective factors compared to the plan to exclude their impact on labor productivity and income and expenditure differences.
Draft Circular guiding the management of labor, wages, bonuses, and remuneration for the credit guarantee fund for small and medium enterprises is still in the period of consultation and approval.
