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REGION-BASED STATUTORY MINIMUM WAGES
(The statutory minimum wages paid under employment contracts from July 01, 2022)

REGION-BASED STATUTORY MINIMUM WAGES
(The statutory minimum wages paid under employment contracts from July 01, 2022)

VIVA BUSINESS CONSULTING là công ty tư vấn doanh nghiệp được tín nhiệm bởi hằng ngàn khách hàng danh tiếng từ năm 2006. VIVA cung cấp nền tảng quản lý toàn diện và nguồn lực thực thi theo cách kết hợp đồng thời của: Luật pháp và thủ tục hành chính trong kinh doanh – Quản lý thuế và kế toán – Quản trị quan hệ lao động – Quản trị tài chính doanh nghiệp – Quản trị và kiểm soát nội bộ. Năng lực của chúng tôi giúp khách hàng lường trước các rủi ro, tối ưu chi phí, kiến tạo lợi thế kinh doanh.

VIVA is a business consulting company, specializes in business compliance procedures according to local business laws and regulations since 2006. VIVA has been continuously trusted by thousands of well-known clients since 2006. We are creating added value for clients by offering one-stop business platform with exclusive and tailored-made services related to market entry and mandatory business compliances. We keep our client’s good standing in lawful and optimal manners whenever they are working and doing business in Vietnam.

The statutory minimum wages paid under employment contracts from july 01 2022

REGULATIONS ON THE APPLICATION OF STATUTORY MINIMUM WAGES AND CONTRIBUTION OF INSURANCES FROM 1/7/2022 FOR EMPLOYERS

  1. Employers shall review and make appropriate modifications to their agreements in employment contracts, collective bargaining agreements as well as other regulations and rules;
  2. Employers are not allowed to cut or reduce any overtime pay, nightshift pay, perquisites and other benefits paid to employees as prescribed by the Labour Code.

REGULATIONS ON THE LEVEL OF STATUTORY MINIMUM WAGES FROM 1/7/2022

The region-based statutory minimum wages per month and per hour paid to employees are provided for as follows:

Region (*)Minimum wages per month (VND/month)Minimum wages per hour (VND/hour)
Region I4.680.00022.500
Region II4.160.00020.000
Region III3.640.00017.500
Region IV3.250.00015.600

Determination of a subregion as the basis for application of the statutory minimum wages shall be conducted based on the employer’s place of operation. To be specific:

  1. An employer located in a specific subregion shall apply the respective statutory minimum wage applied thereto.
  2. In the event that an employer has its affiliates and/or branches located in different subregions to which different statutory minimum wages apply, such affiliates and/or branches must apply the respective statutory minimum wages applied thereto.
  3. If an employer is located in an industrial park or export processing zone located in the territory containing two or more subregions to which different statutory minimum wages apply, the highest statutory minimum wage shall apply.

REGULATIONS ON THE APPLICATION OF STATUTORY MINIMUM WAGES FROM 1/7/2022

  1. The statutory minimum wage per month is the minimum wage used as the basis for any agreement between employers and employees on monthly salary and payment thereof. The job- or position-based salary of an employee who ensures the monthly normal working hours and has fulfilled his/her labor productivity norms or tasks as agreed shall not be lower than the statutory minimum wages per month.
  2. The statutory minimum wage per hour is the minimum wage used as the basis for any agreement between employers and employees on hourly salary and payment thereof. The job- or position-based salary paid for every working hour to an employee who has fulfilled his/her labor productivity norms or tasks as agreed shall not be lower than the statutory minimum wages per hour.
  3. In case an employee receives a weekly or daily salary, a piece-rate pay or a fixed pay, the wages paid to the employee, when converted into monthly or hourly salary, shall not be lower than the statutory minimum wage per month or hour. The normal working hours-based converted monthly or hourly salary shall be subjected to the employer’s decision in accordance with regulations of law. To be specific:
    • The converted monthly salary shall equal the product of the weekly salary and 52 weeks divided by 12 months; or the daily salary multiplied by the total normal working days in a month; or the piece-rate pay or fixed pay for the works performed during normal working hours in a month.
    • The converted hourly salary shall equal the weekly or daily salary divided by the normal working hours in a week or a day respectively; or the piece-rate pay or fixed pay divided by the working hours, considered as normal working hours, spent for producing a predetermined quantity of products or performing assigned works.

These regulations are from Decree No.: 38/2022/ND-CP June 12, 2022 comes into force from July 01, 2022

VIVA Business Consulting will apply and revise every labor contract, collective agreement, monthly payrolls, and wages for the contribution of insurances according to this new regulation from July 2022. Each amendment will be tailored process on case by case and time by time so that your enterprise can fully comply with local regulations in an optimal manner.

Please consult with us for any of your further query: leads@vivabcs.com.vn or hotline: 1800 1243

ABOUT VIVA BUSINESS CONSULTING

VIVA is the local expertise for local business compliance procedures, has been trusted by thousands of foreign investors, multinational companies from Europe, Japan, Singapore, India, Korea, USA… for the required business compliance procedures by local laws and regulations since 2006.

Thanks for consistent of practice expertise in Business laws - Employment relations – Tax and accounting – Corporate finance – Corporate services,  VIVA has been successfully providing service for thousands of leading companies in such industries: Garment, energy, pharma, advertising, agricultural…

VIVA keeps its signature by offering one-stop business platform with regard to market entry and the mandatory business compliances. We ensure for our client’s good standing, in lawful and optimal manners whenever they are working and doing business in Vietnam.

 

VIVA not only manage business required procedures by laws but firstly places client’s compliance and good standing, in the optimal methods when offering any solution, and integrated with our intensive resources that allow us to prevent most of the risks in advance, create more benefits, advantages and business inspiration for entrepreneurs.

The insights and consistent backgrounds in Business Laws – Accounting and Corporate Finance – Tax Management – Labor Relations and Payroll – Serectarial and consistent with our exclusive standard operation processes, consisting of consultation – implementation – pratice operation help us fully protect client interests as one-stop solution.

YOU WILL RECEIVE

“If you ask any successful businessperson, they will always have had a great mentor at some point along the road.”

 

 

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