EXTEND THE DURATION OF PILOT MANAGEMENT OF LABOR, WAGES, BONUSES AT 3 ECONOMIC GROUPS AND CORPORATIONS
On September 29, 2021, the Government issues the Decree No. 87/2021/ND-CP on extending the duration of implementation, and amending and supplementing a number of articles, of the Government’s Decree No. 20/2020/ND-CP of February 17, 2020, on the pilot
management of labor, wages and bonuses of a number of state economic groups and corporations.
In accordance with this Decree, the pilot management of labor, formulation of wage scales and wage tables; wages and bonuses of employees, Chief Executive Officers, and Chief Accountants; wages, remuneration and bonuses of members of Members’ Councils or Boards of Directors, heads of Supervisory Boards, and supervisors specified in the Decree No. 20/2020/ND-CP of the following groups and corporations: Parent company - Vietnam Posts and Telecommunications Group; Parent company - Vietnam Airlines Corporation; Parent company - Vietnam Air Traffic Management Corporation, shall continue to be implemented.
In addition, based on the paid wage fund, a company shall decide to use the whole wage fund to pay wages in the year, or make a deduction to set up a provision fund for addition to the wage fund of the subsequent year, which must not exceed 17% of the paid wage fund.
This Decree takes effect on the signing date.
