Determination of Labor Productivity and Profit Indicators of the Small and Medium-Sized Enterprise Development Fund

Le Hai

12:58, 10/07/2024

Recently, the Ministry of Labor, Invalids and Social Affairs (MOLISA) promulgated Circular 34/2019/TT-MOLISA providing guidelines on labor management, salary, remuneration, and bonuses for the Small and Medium Enterprise Development Fund.

When determining the average planned salary level, the average actual salary level to calculate the planned salary fund, and the actual salary fund according to the provisions of Article 9 and Article 14 of Circular 26/2016/TT-BLDTBXH, the Fund determines labor productivity and profit targets as follows:

- The average labor productivity target (planned, implemented within the year, or implemented in the preceding year) is calculated according to the total revenue target minus total costs excluding salaries;- The profit target (planned, implemented within the year, or implemented in the preceding year) is replaced by the total revenue target minus total costs.

In which, the total revenue and total cost targets are determined according to the provisions of Decree 39/2019/ND-CP of the Government of Vietnam on the organization and operation of the Small and Medium Enterprise Development Fund.

Detailed content can be found in Circular 34/2019/TT-BLDTBXH effective from February 15, 2020.

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