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Basic And Minimum Wages To Rise In 2018

Basic And Minimum Wages To Rise In 2018

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.

Basic wages and minium wages 2018

Since 1995, basic wage has been increased for 15 times, initially, there was only VND 120,000; from Jul 1st 2018 this figure will be VND 1,390,000. The Government has decided to increase minimum wages 2018 by VND 180,000-230,000 per month to VND 2.76-3.98 million per month depending on regions from January 1st, 2018.

Basic wages and minimum wages 2018
Basic wages and minimum wages 2018

Basic And Minimum Wages 2018

According to Decree 141/2017/ND-CP, employees working for enterprises in region one comprising major cities and provinces will enjoy a new minimum salary of VND3.98 million while the new levels for those in regions two, three and four will be VND3.53 million, VND3.09 million and VND2.76 million respectively.

Salaries of workers in normal conditions must not be lower than minimum wages. As for skilled workers, they pay must be at least 7% higher than the minimum wages 2018 by region.

When raising minimum wages 2018 for their staff, employers are prohibited from removing or cutting allowances for workers who work overtime, at night or in a toxic environment. Other allowances, subsidies, and bonuses must be maintained as stated in labor contracts, collective labor agreements, and enterprises’ regulations.

Because of the raising, the cap of unemployment insurance increase up to 79,600,000 VND (20 times of minimum wages 2018), however, cap of unemployment insurance is 60% of average wages of 06 latest employment months.

And from July 01st, 2018, the basic salary increases from VND 1,300,000 to VND 1,390,000. This raising makes the cap of wages for Social insurance and Health insurances increase up to VND 27,800,000.

How to follow the regulations properly and optimally?

  1. To collect the employee’s profiles properly.
  2. Prepare labor contracts, labor agreements with technical terms and conditions.
  3. Registration for your internal Labor rules and conduct code.
  4. Prepare monthly payrolls and compulsory reports of social insurance, personal income tax…
  5. Update for the latest regulations and get necessary confirmation/certificate from competence state agencies.

 

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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Basic And Minimum Wages To Rise Next Year 2019

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