TO AMEND REGULATIONS ON MANAGEMENT OF WAGES AND BONUSES IN VAMC
A number of Articles of the Circular No. 37/2016/TT-BLDTBXH providing guidelines for management of employees, wages, remunerations and bonuses paid to employees working in Vietnam Asset Management Company (hereafter called VAMC) are amended by the Ministry of Labor, War Invalids and Social Affair on June 22, 2018 at the Circular at the Circular No. 04/2018/TT-BLDTBXH.
Accordingly, when determining the planned average wage amount and realized average wage amount for the purpose of identifying the planned wage fund, realized wage fund, VAMC shall determine the profit (planned or realized in the current year or previous year) is replaced by the difference between revenues and expenses (total revenue minus total expenses). As the previous provisions, VAMC determines the profit is replaced with the collected debts bought with special bonds.
When determining planned and realized salary budgets for employees, besides factors that may cause impacts on labor productivity and new investments in business, VAMC may disregard: The State decides to make intervention that directly affects the purchase or sale of bad debts and collaterals; adjust the ratio calculated according to the amount collected from bad debts bought by VAMC with special bonds…
This Circular takes effect on August 15, 2018. To apply Regulations specified in this Circular from January 01, 2018.
