Calculation of Salaries, Allowances for Officials in Vietnam According to New Statutory Pay Rate from July 1, 2024

Tran Thanh Rin

14:46, 08/07/2024

On July 05, 2024, the Minister of Home Affairs (Hanoi, Vietnam) promulgated Circular 07/2024/TT-BNV providing guidance on the implementation of statutory pay rate for individuals receiving salaries, allowances in agencies, organizations, public service providers of the Communist Party of Vietnam, the State, Vietnam Fatherland Front, socio-political organizations, and associations.

Calculation of Salaries, Allowances for Officials in Vietnam According to New Statutory Pay Rate from July 1, 2024

Based on the salary coefficient and allowance specified in documents issued by the competent authorities of the Communist Party of Vietnam and the State regarding salary policies for officials and public employees, and the armed forces, the statutory pay rate as stipulated in Decree 73/2024/ND-CP prescribes the statutory pay rate and bonus policies for officials, public employees, and the armed forces. The calculation of salaries and allowances for officials, public employees, and workers as specified in Clauses 1, 2, 3, 4, 5, 8, and 9 of Article 1 of Circular 07/2024/TT-BNV shall be calculated as follows:

- Formula for calculating salary:

Implemented salary from July 1, 2024 = Statutory pay rate of 2,340,000 VND/month x Current salary coefficient.

- Formula for calculating allowance:

+ For allowances calculated according to the statutory pay rate:

Implemented allowance from July 1, 2024 = Statutory pay rate of 2,340,000 VND/month x Current allowance coefficient

+ For allowances calculated as a % of the current salary plus position-based allowance and seniority allowance (if any):

Implemented allowance from July 1, 2024 = [Implemented salary from July 1, 2024 + Implemented position-based allowance from July 1, 2024 (if any) + Implemented seniority allowance from July 1, 2024 (if any)] x Allowance percentage as regulated

+ For allowances specified by a fixed amount, they remain as per current regulations.

- Formula for calculating the difference preservation coefficient (if any):

Implemented amount of difference preservation coefficient from July 1, 2024 = Statutory pay rate of 2,340,000 VND/month x Current difference preservation coefficient (if any)

More details can be found in Circular 07/2024/TT-BNV which takes effect from July 5, 2024, and replaces Circular 10/2023/TT-BNV.

The regulations specified in Circular 07/2024/TT-BNV shall be implemented in Vietnam from July 1, 2024.

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