Deferral of the pilot of labor and salary management on some Vietnamese State-owned enterprises

Bao Ngoc

16:25, 30/09/2021

On September 29, 2021, the Government of Vietnam promulgated Decree 87/2021/ND-CP on extending the pilot implementation period of labor, salary and bonus management for a number of state-owned economic groups and corporations.

Decree 87/2021 of Vietnam has extended the pilot implementation of labour, salary and bonus management for a number of economic groups and state-owned corporations until the Vietnamese Government promulgates new regulations on management of labor, salary, remuneration and bonus in state-owned enterprises according to Resolution 27-NQ/TW dated May 21, 2018 on reforming salary policy for officials, public employees, armed forces and employees in enterprises take effect.

(Previously, Decree 20/2020/ND-CP stipulating regulations on wages and bonuses of employees will be implemented until the end of December 31, 2021).

In addition, Decree 87/2021 also adds the stipulation that “Based on the implemented salary fund, the company decides to use the entire salary fund to pay salaries in the year or deduct a part to set up an additional reserve fund in the following year, but must not exceed 17% of the realized salary fund”.

Decree 87/2021/ND-CP of Vietnam takes effect from September 29, 2021.

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