Circular No. 07/2025/TT-BNV guiding the management of labor, wages, remuneration, and bonuses for organizations as stipulated in Clause 5 and Clause 8, Article 34 of Decree No. 44/2025/NĐ-CP dated February 28, 2025 of the Government on the management of labor, wages, remuneration, and bonuses in state-owned enterprises.

CIRCULAR

Guidelines for implementing labor management, salary, remuneration, and bonuses for organizations as provided for in Clause 5 and Clause 8 of Article 34 of Decree No.44/2025/NĐ-CP dated February 28, 2025 of the Government on labor management, salary, remuneration, and bonuses in state-owned enterprises

Decree No. Decree No. 25/2025/NĐ-CP dated February 21, 2025 of the Government on the functions, tasks, powers, and organizational structure of the Ministry of Home Affairs;

Decree No. Decree No. 44/2025/NĐ-CP dated February 28, 2025 of the Government on labor management, salary, remuneration, and bonuses in state-owned enterprises;

Decree No. Decree No. 47/2025/NĐ-CP dated February 28, 2025 of the Government on the functions, tasks, powers, and organizational structure of Vietnam Television;

Decree No. Decree No. 46/2021/NĐ-CP dated March 31, 2021 of the Government on financial management systems and performance evaluation for the Vietnam Development Bank;

Decree No. Decree No. 45/2021/NĐ-CP dated March 31, 2021 of the Government on the establishment, organization, and operation of the Cooperative Development Support Fund;

Decree No. Decree No. 147/2020/NĐ-CP dated December 18, 2020 of the Government on the organization and operation of the Local Investment and Development Fund;

Decree No. Decree No. 39/2019/NĐ-CP dated May 10, 2019 of the Government on the organization and operation of the Small and Medium Enterprise Development Fund;

Decree No. Decree No. 34/2018/NĐ-CP dated March 8, 2018 of the Government on the establishment, organization, and operation of the Guarantee Fund for Credit to Small and Medium Enterprises;

Decree No. Decree No. 68/2013/NĐ-CP dated June 28, 2013 of the Government detailing and guiding the implementation of the Law on Deposit Insurance;

Pursuant to Decision No. Decision No. 04/2021/QĐ-TTg dated January 29, 2021 of the Prime Minister promulgating the Charter on the organization and operation of the National Technology Innovation Fund;

Pursuant to Decision No. Decision No. 131/2002/QĐ-TTg dated October 4, 2002 of the Prime Minister on the establishment of the Social Policy Bank;

At the proposal of the Director of the Wages and Social Insurance Department;

The Minister of Home Affairs issues this Circular to guide the implementation of labor management, salary, remuneration, and bonuses for organizations as provided for in Clause 5 and Clause 8 of Article 34 of Decree No. 44/2025/NĐ-CP dated February 28, 2025 of the Government on labor management, salary, remuneration, and bonuses in state-owned enterprises. This Circular guides the implementation of labor management, salary, remuneration, and bonuses as provided for in Clause 5 and Clause 8 of Article 34 of Decree No. 44/2025/NĐ-CP dated February 28, 2025 of the Government on labor management, salary, remuneration, and bonuses in state-owned enterprises for the following organizations:

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

1. Financial Funds, including: Local Investment and Development Fund; National Technology Innovation Fund; Guarantee Fund for Credit to Small and Medium Enterprises; Cooperative Development Support Fund operating under the model of a limited liability company with 100% state-owned capital; Small and Medium Enterprise Development Fund.

2. Financial Organizations, including: Vietnam Deposit Insurance Corporation; Social Policy Bank; Vietnam Development Bank.

3. Vietnam Television (hereinafter referred to as VTV).

1. Civil servants and employees working under labor contracts (hereinafter collectively referred to as employees).

Article 2. Applicability

2. General Directors, Directors, Deputy General Directors, Deputy Directors, Chief Accountants of Financial Funds and Financial Organizations (hereinafter collectively referred to as Management Board); General Directors, Deputy General Directors of VTV.

3. Chairmen, Vice Chairmen, members of the Management Council or Member Council of Financial Funds; Chairmen and members of the Board of Directors of Financial Organizations (hereinafter collectively referred to as Council Members).

4. Heads of Supervisory Boards, Supervisors, members of Supervisory Boards appointed under appointment system (hereinafter collectively referred to as Supervisors).

5. Agencies, organizations, and individuals related to the implementation of the provisions of this Circular.

LABOR MANAGEMENT, SALARY, REMUNERATION, AND BONUSES

Chapter II

FOR FINANCIAL FUNDS AND FINANCIAL ORGANIZATIONS

PRINCIPLES, OBJECTIVE FACTORS, AND LABOR MANAGEMENT, PAY SCALE, PAYROLL

Section 1

PRINCIPLES, EXTERNAL FACTORS AND LABOR MANAGEMENT, PAY SCALE, PAY GRADE TABLE

Article 3. Principles for managing labor, wages, remuneration, and bonuses

The Financial Fund, Financial Organization shall implement principles for managing labor, wages, remuneration, and bonuses as stipulated in Article 3 of Decree No. 44/2025/NĐ-CP and Clause 1 of Article 3 of Circular No. 003/2025/TT-BNV dated April 28, 2025, issued by the Minister of Home Affairs guiding the management of labor, wages, remuneration, and bonuses in state-owned enterprises (hereinafter referred to as Circular No. 003/2025/TT-BNV). In this context, when determining wages for employees, the Management Board, Council Members, and Supervisors, the profit indicator shall be replaced with the total revenue minus total expenses indicator (hereinafter referred to as net income difference); the profit rate indicator shall be replaced with the net income difference rate, which is determined by dividing the net income difference by the indicator chosen by the Financial Fund, Financial Organization based on the owner's equity or contribution capital of the Financial Fund, Financial Organization. Total revenue and total expenses indicators are determined according to the provisions of laws on accounting and finance, where the total revenue indicator serves as the basis for determining wages for the Vietnam Deposit Insurance Corporation, including total income from annual temporary idle investment activities before setting aside for income accounting; income from deposit insurance operations and other income are determined according to financial management regulations for the Vietnam Deposit Insurance Corporation.

Article 4. Objective factors excluded when determining wages

1. When determining wages for employees and the Management Board, Council Members, and Supervisors, the Financial Fund, Financial Organization shall exclude objective factors as prescribed in Article 4 of Decree No. 44/2025/NĐ-CP that directly affect labor productivity, net income difference, net income difference rate, and objective factors specific to the nature of the Financial Fund, Financial Organization, including:

a) Local Investment and Development Funds shall exclude factors as prescribed in Point b, c, and d of Clause 3 of Article 42 of Decree No. 147/2020/NĐ-CP dated December 18, 2020, issued by the Government regarding the organization and operation of Local Investment and Development Funds.

b) National Science and Technology Innovation Fund shall exclude factors as prescribed in Point b of Clause 3 of Article 44 of Decision No. 04/2021/QĐ-TTg dated January 29, 2021, issued by the Prime Minister promulgating the Charter on the organization and operation of the National Science and Technology Innovation Fund.

c) Small and Medium Enterprise Credit Guarantee Fund shall exclude factors as prescribed in Point b of Clause 2 of Article 49 of Decree No. 34/2018/NĐ-CP dated March 8, 2018, issued by the Government on the establishment, organization, and operation of the Small and Medium Enterprise Credit Guarantee Fund.

d) Cooperative Development Support Fund shall exclude factors as prescribed in Point b of Clause 2 of Article 45 of Decree No. 45/2021/NĐ-CP dated March 31, 2021, issued by the Government on the establishment, organization, and operation of the Cooperative Development Support Fund.

đ) Small and Medium Enterprise Development Fund shall exclude factors as prescribed in Point b of Clause 3 of Article 55 of Decree No. 39/2019/NĐ-CP dated May 10, 2019, issued by the Government on the organization and operation of the Small and Medium Enterprise Development Fund.

e) Vietnam Deposit Insurance Corporation shall exclude factors regulated by the State such as adjusting the deposit insurance premium framework; adjusting the deposit insurance payout limit; issuing charter capital; adjusting the deposit interest rate of the Vietnam Deposit Insurance Corporation at the State Bank; adjusting the deposit insurance premium rate for participating organizations; adjusting the government bond interest rate, central bank bills interest rate, and not issuing government bonds or central bank bills. The Vietnam Deposit Insurance Corporation must implement deposit insurance payouts to depositors at credit institutions under special control according to the approved bankruptcy plan; provide special loans to credit institutions (excluding non-bank credit institutions) experiencing mass withdrawals according to the law; must use operational funds to purchase long-term bonds from mandatory transfer recipients according to the State Bank's decision; sell government bonds, sell long-term bonds of credit institutions supporting, sell central bank bills of the State Bank of Vietnam to pay deposit insurance in cases where the business reserve fund is insufficient to cover deposit insurance payouts; participate in restructuring and handling weak credit institutions according to the law; exempt payment of deposit insurance premiums for participating organizations under special control or unable to collect premiums immediately prior to special control.

g) Social Policy Bank, Vietnam Development Bank shall exclude factors regulated by the State such as changing management fees; changing lending and deposit interest rates for government-guaranteed bonds, central bank loans requiring interest payments, and 2% deposits of state-owned credit institutions in Vietnamese dong; adjusting or generating new exchange rate differences and loan loss reserves.

2. The calculation and exclusion of the impact of objective factors as prescribed in Clause 1 of this Article shall be carried out according to the provisions of Clause 2 of Article 3 of Circular No. 003/2025/TT-BNV.

Article 5. Labor management, salary scales

The financial fund, financial organizations shall manage labor, establish and issue salary scales, additional allowances for employees, the Management Board, Council members, and dedicated Supervisors in accordance with Article 4 of Circular No. 003/2025/TT-BNV.

Section 2

MANAGEMENT OF SALARIES, COMMISSIONS, AND BONUSES FOR FINANCIAL FUNDS

Article 6. Salaries of employees and the Management Board

The salaries of employees and the Management Board of the financial fund shall be implemented in accordance with Chapter III of Decree No. 44/2025/NĐ-CP and Chapter II of Circular No. 003/2025/TT-BNV, wherein when determining the average planned salary level, the actual average salary level, and the salary fund through the average salary level as stipulated in Articles 7, 8, and 9 of Circular No. 003/2025/TT-BNV, or when determining the actual salary fund through a stable salary rate as stipulated in Article 12 of Circular No. 003/2025/TT-BNV, the profit indicator shall be replaced by the revenue-expenditure difference indicator, the salary coefficient, the increased or decreased salary amount, the additional salary portion, and the reduced salary fund portion tied to profit shall be tied to the revenue-expenditure difference.

Article 7. Basic wage, planned salary level of Council members, Supervisors

The basic wage and planned salary level of dedicated Council members and Supervisors shall be implemented in accordance with Article 20, Article 21, and Clause 5 of Article 34 of Decree No. 44/2025/NĐ-CP, wherein:

1. The basic wage of the Chairman of the Management Board or the Chairman of the Financial Fund shall be calculated based on the basic wage of the position of Chairman of the Board of Members. The basic wage of Management Board members shall be calculated based on the basic wage of the position of Member of the Board of Members.

2. When determining the basic wage and planned salary level, the profit indicator shall be replaced by the revenue-expenditure difference indicator; the profit margin indicator shall be replaced by the revenue-expenditure difference margin indicator.

3. The planned salary level under Clause 1, Clause 5 of Article 21, and Clause 5 of Article 34 of Decree No. 44/2025/NĐ-CP shall be determined based on the revenue-expenditure difference and revenue-expenditure difference margin indicators as follows:

a) If the Financial Fund has a planned revenue-expenditure difference and revenue-expenditure difference margin not lower than the previous year's implementation, then the maximum planned salary level will be 1.5 times the basic wage.

b) If the Financial Fund has a planned revenue-expenditure difference not lower than the previous year's implementation and a planned revenue-expenditure difference margin lower than the previous year's implementation, then the maximum planned salary level will be determined according to the following formula:

 (1)

Where:

- MTL_kh: Planned salary level;

- ML_cb: Basic wage;

- ROB_kh: Planned revenue-expenditure difference margin;

- ROB_thnt: Previous year's revenue-expenditure difference margin.

c) If the Financial Fund has a planned revenue-expenditure difference lower than the previous year's implementation and a planned revenue-expenditure difference margin not lower than the previous year's implementation, then the maximum planned salary level will be determined according to the following formula:

(2)

Where:

- MTL_kh: Planned salary level;

- ML_cb: Basic wage;

- TC_kh: Planned revenue-expenditure difference;

- TC_thnt: Previous year's revenue-expenditure difference.

d) If the Financial Fund has both a planned revenue-expenditure difference and a planned revenue-expenditure difference margin lower than the previous year's implementation:

In case the ratio (%) of the planned revenue-expenditure difference margin compared to the previous year's revenue-expenditure difference margin is lower than the ratio (%) of the planned revenue-expenditure difference compared to the previous year's revenue-expenditure difference, then the maximum planned salary level will be determined according to formula (1);

In case the ratio (%) of the planned revenue-expenditure difference compared to the previous year's revenue-expenditure difference is lower than the ratio (%) of the planned revenue-expenditure difference margin compared to the previous year's revenue-expenditure difference margin, then the maximum planned salary level will be determined according to formula (2).

e) If the Financial Fund has a planned revenue-expenditure difference or a planned revenue-expenditure difference margin not lower than the previous year's implementation, but the planned salary level after determination according to points a, b, and c of this clause is lower than the previous year's actual salary level (including the additional salary portion for cases where the Financial Fund's actual revenue-expenditure difference exceeds the planned revenue-expenditure difference), then it will be calculated based on the previous year's actual salary level. Specifically, the actual salary level of 2024 serves as the basis for comparison when determining the planned salary level for 2025, which is the salary from the actual salary fund of managers in 2024 determined in accordance with labor laws, salary regulations, and the remuneration system of the Financial Fund.

f) After determining the planned salary level according to points b, c, and d of this clause, it shall not be lower than 80% of the basic wage.

Article 8. Level of actual salary, remuneration, advance payment of salary and remuneration, determination of salary and remuneration levels for Board Members and Supervisors

The determination of the level of actual salary, remuneration level, advance payment of salary and remuneration, determination of salary and remuneration levels for Board Members and Supervisors shall be carried out in accordance with Articles 22, 23, 24, and 25 of Decree No. 44/2025/NĐ-CP, wherein the profit indicator is replaced by the revenue-expenditure difference indicator; the profit margin indicator is replaced by the revenue-expenditure difference margin indicator; the maximum level of actual salary for Board Members and Supervisors shall not exceed 1.5 times the basic wage level prescribed in Clause 5, Article 34 of Decree No. 44/2025/NĐ-CP.

Article 9. Bonuses and welfare benefits

Bonuses and welfare benefits for employees, Management Board, Board Members, and Supervisors shall be implemented in accordance with Article 26 of Decree No. 44/2025/NĐ-CP and other legal regulations specifically applicable to the Financial Fund (if any), wherein the salary of the Management Board working under the appointment system serves as the basis for determining bonuses, which is the actual salary level from the employee salary fund and the Management Board according to the salary payment regulations of the Financial Fund.

Section 3

MANAGEMENT OF SALARIES, REMUNERATION, AND BONUSES FOR FINANCIAL ORGANIZATIONS

Article 10. Salary of Employees and Management Board

The salary of employees and the Management Board of Financial Organizations shall be implemented in accordance with Chapter III of Decree No. 44/2025/NĐ-CP and Chapter II of Circular No. 003/2025/TT-BNV, wherein when determining the average planned salary level, the actual average salary level, and the salary fund through the average salary level as stipulated in Articles 7, 8, and 9 of Circular No. 003/2025/TT-BNV, or when determining the actual salary fund through a stable salary rate as stipulated in Article 12 of Circular No. 003/2025/TT-BNV, the profit indicator is replaced by the revenue-expenditure difference indicator; the salary coefficient, increased or decreased salary amount, additional salary portion, and reduced salary fund portion linked to profit shall be linked to the revenue-expenditure difference.

Article 11. Basic Salary Level and Planned Salary Level for Professional Board Members and Supervisors

The basic salary level and planned salary level for professional Board Members and Supervisors shall be determined in accordance with Article 15 of Circular No. 003/2025/TT-BLDTBXH. When determining the basic salary level and planned salary level, the profit indicator is replaced by the revenue-expenditure difference indicator; the profit margin indicator is replaced by the revenue-expenditure difference margin indicator.

Article 12. Actual Salary Level, Remuneration, Advance Payment of Salary and Remuneration, Determination of Salary and Remuneration Levels for Board Members and Supervisors

The determination of the actual salary level, remuneration level, advance payment of salary and remuneration, determination of salary and remuneration levels for Board Members and Supervisors shall be carried out in accordance with Articles 22, 23, 24, and 25 of Decree No. 44/2025/NĐ-CP, wherein the profit indicator is replaced by the revenue-expenditure difference indicator; the profit margin indicator is replaced by the revenue-expenditure difference margin indicator.

Article 13. Bonuses and benefits

The bonuses and benefits for employees, the Management Board, Members of the Board, and Supervisors shall be implemented in accordance with the provisions of Article 26 of Decree No. 44/2025/NĐ-CP and other regulatory legal documents specifically governing Financial Organizations (if any). In this regard, the salary of the Management Board working under the appointment system serves as the basis for determining bonuses, which is the amount of salary from the actual salary fund of employees and the Management Board according to the remuneration regulations of the Financial Organization.

Article 14. Salary mechanism and salary fund during the restructuring phase of the Vietnam Development Bank

During the restructuring phase, the Vietnam Development Bank does not implement salary management and remuneration as stipulated in Articles 10, 11, 12, 13, and 14 of Circular [this] but implements the salary mechanism and salary fund as prescribed in Article 40 of Decree No. 46/2021/NĐ-CP dated March 31, 2021 of the Government on financial management systems and performance evaluation for the Vietnam Development Bank (hereinafter referred to as Decree No. 46/2021/NĐ-CP) as follows:

1. The salary of employees is determined in accordance with point a, Clause 2, Article 40 of Decree No. 46/2021/NĐ-CP.

2. The salary of managers (including the Chairman and members of the Board of Directors, the Head of the Supervisory Board, specialized members of the Supervisory Board, General Director, Deputy General Director, and Chief Accountant) is determined based on the degree of task completion as stipulated in point b, Clause 2, Article 40 of Decree No. 46/2021/NĐ-CP, wherein in cases where managers are evaluated as having completed their tasks, the maximum salary shall be as follows:

a) The salary level of the Chairman and members of the Board of Directors, the Head of the Supervisory Board, and specialized members of the Supervisory Board working full-time shall not exceed the basic wage level 4, Group I as prescribed in Article 20 of Decree No. 44/2025/NĐ-CP.

b) The salary level of the General Director, Deputy General Director, and Chief Accountant shall be determined by the Board of Directors of the Vietnam Development Bank for each position, ensuring that the average salary of these positions does not exceed the average salary of the Chairman and members of the Board of Directors working full-time.

Chapter III

MANAGEMENT OF SALARIES FOR THE VIETNAM TELEVISION STATION

Section 1

PRINCIPLES AND OBJECTIVE FACTORS DETERMINING SALARIES

Article 15. Principles for Determining Salaries

1. The salary fund for employees at VTV is determined and implemented according to units within VTV as follows:

a) The salary fund for employees in the Multichannel Television Editing Department is determined and implemented in conjunction with labor productivity and profit, as prescribed in Article 17, Section 2, Chapter [this].

b) The salary fund for employees in overseas resident offices is determined and implemented in accordance with national standards, quotas, and systems for Vietnamese agencies abroad, as prescribed in Article 18, Section 2, Chapter [this].

c) The salary fund for employees in production and management units (hereinafter referred to as production and management units) is determined and implemented in conjunction with labor productivity and the extent to which revenue covers costs, as prescribed in Section 3, Chapter [this].

2. The salaries of the General Director and Deputy General Director of VTV are included in the salary fund for employees in production and management units and are paid according to the remuneration regulations established and issued by VTV.

Article 16. Objective Factors Excluding When Determining Salary

1. VTV excludes objective factors when determining the salary of employees as follows:

a) When determining the salary of employees in the Multichannel Television Editorial Board, exclude the objective factors stipulated in Article 4 of Decree No. 44/2025/NĐ-CP that directly affect labor productivity and profit.

b) When determining the salary of employees in production and management units, exclude the objective factors stipulated in Article 4 of Decree No. 44/2025/NĐ-CP and other objective factors specific to VTV that directly affect labor productivity and the level of revenue coverage for costs, including: VTV producing news and television programs serving political tasks of the Party and State according to the directive of competent state agencies not included in the annual production and broadcasting plan without budget allocation; VTV organizing major sports events such as the World Cup and Euro, resulting in additional copyright fees and program production costs related to copyrights outside the plan, where revenue from these activities is insufficient to cover costs.

2. The calculation and exclusion of the impact of the objective factors specified in Clause 1 of this Article shall be carried out in accordance with the principles prescribed in Clause 2 of Article 3 of Circular No. 003/2025/TT-BNV.

Section 2

SALARY FOR THE MULTICHANNEL TELEVISION EDITORIAL BOARD AND FOREIGN RESIDENT OFFICES

Article 17. Salary for the Multichannel Television Editorial Board

The salary fund and payment of salaries for employees in the Multichannel Television Editorial Board shall be determined, provisionally allocated, reserved, and distributed in accordance with Chapter III of Decree No. 44/2025/NĐ-CP and Chapter II of Circular No. 003/2025/TT-BNV.

Article 18. Salary for foreign resident offices

The salary fund and payment of salaries for employees in foreign resident offices shall be implemented in accordance with the provisions of Government Decree No. 08/2019/NĐ-CP dated January 23, 2019 on certain benefits for members of Vietnamese agencies abroad, Government Decree No. 166/2017/NĐ-CP dated December 31, 2017 on standards, quotas, and management and use of public assets of Vietnamese agencies abroad, and any amendments, supplements, or replacements thereof (if any).

Section 3

SALARY FOR PRODUCTION AND MANAGEMENT UNITS AND GENERAL MANAGER, DEPUTY GENERAL MANAGER

Article 19. Determination of Salary Fund

VTV bases its determination of the salary fund for employees (including civil servants and workers under labor contracts) in production and management units and General Manager, Deputy General Manager on the provisions of Articles 7 and 8 of Decree No. 44/2025/NĐ-CP, wherein:

1. In the case where VTV chooses to determine the salary fund through average salary levels, the planned salary fund shall be determined based on the average number of employees and the planned average salary level, wherein the planned average salary level is determined based on the actual average salary level achieved in the previous year linked to labor productivity and the level of revenue covering costs compared to the previous year's implementation as follows:

a) If the planned revenue covering costs and labor productivity are higher than those achieved in the previous year, the average salary may increase up to the maximum increase in labor productivity, calculated using the following formula:

Where:

- TL_bqkh: Average planned wage level.

- TL_bqthnt: The actual average salary level achieved in the previous year, which is determined by dividing the actual salary fund of the previous year for employees, General Manager, and Deputy General Manager by the actual average number of employees used in the previous year and then dividing by twelve months.

- W_kh: Planned labor productivity; Wthnt: Actual labor productivity achieved in the previous year, determined according to the Appendix issued together with Circular No. 003/2025/TT-BNV.

- Central agencies of political-social organizations;_tlns: The wage rate coefficient based on productivity chosen by VTV within the range from 0.8 to a maximum of 1.0.

b) If the planned revenue covering costs and labor productivity are equal to those achieved in the previous year, the average salary will be the same as the previous year.

c) If the planned revenue covering costs and labor productivity are lower than those achieved in the previous year, the planned average salary level will be determined based on the actual average salary level achieved in the previous year minus the portion of salary reduction according to productivity, calculated using the following formula:

Where:

- TL_ns: The portion of salary reduction according to productivity.

- TL_bqthnt: The actual average salary level achieved in the previous year.

d) If revenue does not cover costs, the planned average salary level will be determined based on the actual average salary level achieved in the previous year and reduced until revenue covers costs, but not less than the minimum wage set by the Government multiplied by the wage coefficient and allowance according to Government Decree No. 204/2004/NĐ-CP dated December 14, 2004 on wage regulations for cadres, civil servants, civil servants, and armed forces.

The actual salary fund is determined based on the actual average number of employees used and the actual average salary level, wherein the actual average salary level is determined based on the planned average salary level linked to labor productivity and the level of revenue covering costs achieved compared to the plan, following the same principle as the determination of the planned average salary level linked to labor productivity and the level of revenue covering costs compared to the previous year's implementation.

2. In the case where VTV chooses to determine the salary fund through a stable salary unit price, the salary fund shall be determined in accordance with Articles 10, 11, and 12 of Circular No. 003/2025/TT-BNV, wherein the profit indicator is replaced by the revenue coverage cost indicator; the portion of actual salary, salary fund reduction linked to profit is linked to the revenue coverage cost indicator.

3. The number of workers to calculate the average wage level, labor productivity, average labor productivity, and the degree of revenue coverage to offset average costs as the basis for determining the wage fund according to the provisions of Clause 1 and Clause 2 of this Article, including civil servants and workers under labor contracts in production and management units and General Directors and Deputy General Directors, shall be determined in accordance with the Appendix issued together with Circular No. 003/2025/TT-BNV.

Article 20. Advance payment, reserve, and distribution of wages for production and management units

1. Based on the wage funds stipulated in Clause 1 and Clause 2 of Article 19 of this Circular, VTV shall decide on advance payment and reserve of wages for workers, General Directors, and Deputy General Directors in accordance with Article 18 of Decree No. 44/2025/NĐ-CP.

2. The distribution of wages for workers, General Directors, and Deputy General Directors shall be carried out in accordance with the wage regulations established and promulgated by VTV, ensuring transparency and compliance with the law. The wage regulations must ensure that the average wage increase implemented by General Directors and Deputy General Directors does not exceed the average wage increase implemented by workers in production and management units.

Chapter IV

IMPLEMENTING PROVISIONS

Article 21. Effective Date

1. This Circular takes effect from July 15, 2025. The systems prescribed in this Circular shall be implemented from January 1, 2025.

2. The following consolidated documents are abolished:

a) Circular No. 32/2016/TT-BLDTBXH dated October 25, 2016, issued by the Minister of Labor, Invalids, and Social Affairs guiding the management of labor, wages, remuneration, and bonuses for the Vietnam Deposit Insurance Corporation;

b) Circular No. 34/2016/TT-BLDTBXH dated October 25, 2016, issued by the Minister of Labor, Invalids, and Social Affairs guiding the management of labor and wages for Vietnam Television;

c) Circular No. 45/2016/TT-BLDTBXH dated December 28, 2016, issued by the Minister of Labor, Invalids, and Social Affairs guiding the implementation of labor and wage management, remuneration, and bonuses for local development investment funds;

d) Circular No. 04/2019/TT-BLDTBXH dated January 21, 2019, issued by the Minister of Labor, Invalids, and Social Affairs guiding the implementation of labor and wage management, remuneration, and bonuses for credit guarantee funds for small and medium-sized enterprises;

đ) Circular No. 34/2019/TT-BLDTBXH dated December 30, 2019, issued by the Minister of Labor, Invalids, and Social Affairs guiding the management of labor, wages, remuneration, and bonuses for small and medium-sized enterprise development funds;

e) Circular No. 12/2022/TT-BLDTBXH dated June 30, 2022, issued by the Minister of Labor, Invalids, and Social Affairs guiding the implementation of labor and wage management, remuneration, and bonuses for the National Technology Innovation Fund;

g) Circular No. 13/2022/TT-BLDTBXH dated June 30, 2022, issued by the Minister of Labor, Invalids, and Social Affairs guiding the implementation of labor and wage management, remuneration, and bonuses for cooperative development support funds;

3. For financial funds, financial organizations, if VTV has approved the 2025 wage plan before the effective date of Decree No. 44/2025/NĐ-CP, they must review and adjust the 2025 wage plan for workers and the Management Board (or General Directors and Deputy General Directors), as well as the planned wage and remuneration for members of the board and supervisors, in accordance with the guidance provided in this Circular.

4. The midday meal system for workers, the Management Board or General Directors and Deputy General Directors, members of the board, and supervisors of financial funds and financial organizations shall be implemented in accordance with collective labor agreements or internal regulations of financial funds and financial organizations as prescribed by law.

5. For non-state budget financial funds currently applying a wage mechanism according to the model of a limited liability company wholly owned by the state, as prescribed by competent state authorities but not specified in Clause 1 of Article 1 of this Circular, they shall manage labor, wages, remuneration, and bonuses in accordance with the provisions for financial funds in this Circular.

Article 22. Responsibilities for Implementation

1. General Directors, Directors, Members of the Board of Members, Management Councils, Boards of Directors, or Chairmen of Funds, Heads of Supervisory Boards, and Supervisors of financial funds and financial organizations shall fulfill the responsibilities stipulated in Article 28 of Decree No. 44/2025/NĐ-CP, Clause 1 of Article 20 of Circular No. 003/2025/TT-BNV, and report data according to the forms issued together with Circular No. 003/2025/TT-BNV, where profit indicators in the forms shall be replaced by revenue-expenditure difference indicators; profit rate indicators shall be replaced by revenue-expenditure difference rate indicators.

2. The General Director of VTV shall be responsible for:

a) Approving the planned wage fund, actual wage fund of workers in units before April 15 each year; stable wage unit price (in cases where VTV chooses to determine the wage fund through a stable wage unit price);

b) Issuing wage regulations ensuring transparency in accordance with the law; deciding on advance payment of wages, wage reserves, and wage distribution for workers and General Directors and Deputy General Directors;

c) Compiling and reporting the VTV wage fund and data according to Form No. 1 and Form No. 2 issued together with this Circular, to the Ministry of Home Affairs and the Ministry of Finance before July 15 each year for inspection and supervision.

3. The representative owner's body for financial funds and the Vietnam Deposit Insurance Corporation shall fulfill the responsibilities stipulated in Clause 1, Clause 3, Clause 4, and Clause 5 of Article 30 of Decree No. 44/2025/NĐ-CP.

4. The Minister, Head of a ministerial-level agency, Head of an agency under the Government, Chairman of the People's Committee of a province or centrally-administered city, and related organizations and individuals shall be responsible for directing, urging, inspecting, and supervising the implementation of the provisions of this Circular.

During the implementation process, if there are difficulties, agencies, organizations, and enterprises are requested to reflect them to the Ministry of Home Affairs for research and resolution./.

FORM 1

REPORT ON DETERMINING THE WAGE FUND FOR THE PREVIOUS YEAR AND PLAN FOR THE YEAR ... OF CIVIL SERVANTS AND WORKERS

(in case of determining the wage fund through average salary level)

(Issued together with Circular No. 07/2025/TT-BNV dated May 22, 2025 of the Minister of Home Affairs)

Note: (1) Specify the specific productivity indicator chosen by VTV, if using a different indicator reflecting labor consumption, a detailed explanation must be provided.

(2) Record the corresponding unit of measurement for the productivity indicator at point (1) annually.

(3) If digital signature is used, this section should be omitted.

FORM 2

REPORT ON DETERMINING THE WAGE FUND FOR THE PREVIOUS YEAR AND PLAN FOR THE YEAR ... OF CIVIL SERVANTS AND WORKERS

(in case of determining the wage fund through unit price)

(Issued together with Circular No. 07/2025/TT-BNV dated May 22, 2025 of the Minister of Home Affairs)

Note: (1) Specify the specific unit price calculation indicator.

(2) Specify the specific productivity indicator chosen by VTV, if using a different indicator reflecting labor consumption, a detailed explanation must be provided.

(3) Record the corresponding unit of measurement for the productivity indicator at point according to the year.

(4) Record the number of years the unit price is applied.

(5) Record the specific unit of measurement corresponding to the unit price calculation indicator.

(6) If digital signature is used, this section should be omitted.