Circular No. 221/2013/TT-BTC guiding the establishment, management of funds for salaries, remuneration, and bonuses for Supervisors and State Capital Representatives as stipulated in Decree No. 51/2013/NĐ-CP dated May 14, 2013 of the Government.

CIRCULAR

Guidelines for the establishment and management of funds for salaries, remuneration, and bonusesfor Supervisors and State Capital Representatives as stipulatedin Decree No. 51/2013/NĐ-CP dated May 14, 2013 of the Government

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Pursuant to DecreeNo. Decree No. 118/2008/NĐ-CP dated November 27, 2008 of the Government on the functions, tasks, powers, and organizational structure of the Ministry of Finance"b) In addition to the lists of public services issued according to the provisions of Clause 2, Article 4 of this Decree, specialized agencies under provincial People's Committees shall report to the provincial People's Committee for decision-making on amending, supplementing, or issuing the list of public services funded by the state budget within their jurisdiction and consistent with the local budget capacity within the approved budget by the Provincial People's Assembly, and send it to the Ministry of Finance and relevant ministries and sectors for supervision during implementation."c) Supplementing point c of Clause 3 as follows:

Pursuant to DecreeNo. Decree No. 51/2013/NĐ-CP dated May 14, 2013 of the Government"b) In addition to the lists of public services issued according to the provisions of Clause 2, Article 4 of this Decree, specialized agencies under provincial People's Committees shall report to the provincial People's Committee for decision-making on amending, supplementing, or issuing the list of public services funded by the state budget within their jurisdiction and consistent with the local budget capacity within the approved budget by the Provincial People's Assembly, and send it to the Ministry of Finance and relevant ministries and sectors for supervision during implementation."prescribing salary, remuneration, and bonus systems lfor members of the Board of Directors or Chairmen of companies, Supervisors, General Managers or Directors, Deputy General Managers or Deputy Directors, Chief Accountants in joint-stock limited liability companies with a single shareholder owned by the State;No.Decision No. 35/2013/QĐ-TTg dated June 7, 2013 of the Prime Minister on the issuance of the Regulation on the operation of Supervisors in joint-stock limited liability companies with a single shareholder owned by the State;developmentThe Circular guides the establishment and management of funds for salaries, remuneration, and bonuses for Supervisors and State Capital Representatives as stipulated in Decree No. 51/2013/NĐ-CP dated May 14, 2013 of the Government, amended and supplemented by Decree No. 109/2025/NĐ-CP and Decree No. 193/2025/NĐ-CPThis Circular provides guidelines for the establishment and management of funds for salaries, remuneration, and bonuses for Supervisors in joint-stock limited liability companies with a single shareholder owned by the State; State Capital Representatives at other enterprises with State-owned capital contributions; it does not apply to positions working under economic contracts (employment contracts, power of attorney contracts). For Supervisors in joint-stock limited liability companies with a single shareholder owned by the State that have specific characteristics (Securities Depository Center, Securities Exchange), they shall follow the provisions of special legal documents.

/2013/QĐ-TTgNo. 1. Supervisors in joint-stock limited liability companies with a single shareholder owned by the State.development2. Representatives appointed by Ministries, People's Committees of provinces and centrally-administered cities to represent State capital at other enterprises.u 3. Agencies and organizations assigned to exercise the rights and obligations of the owner towards joint-stock limited liability companies with a single shareholder owned by the State.

The Minister of Finance hereby issues this Circular amending and supplementing certain Articles of Circular No. 133/2015/TT-BTC dated August 31, 2015, issued by the Minister of Finance guiding the financial management mechanism for the Vietnam Chamber of Commerce and Industry (hereinafter referred to as Circular No. 133/2015/TT-BTC).

1. Selling state property through public listing."b) In addition to the lists of public services issued according to the provisions of Clause 2, Article 4 of this Decree, specialized agencies under provincial People's Committees shall report to the provincial People's Committee for decision-making on amending, supplementing, or issuing the list of public services funded by the state budget within their jurisdiction and consistent with the local budget capacity within the approved budget by the Provincial People's Assembly, and send it to the Ministry of Finance and relevant ministries and sectors for supervision during implementation."4. Joint-stock limited liability companies with a single shareholder owned by the State.,

Section I

GENERAL PROVISIONS

Article 1. Scope of Regulation

1. Owners include Ministries, People's Committees of provinces and centrally-administered cities.

Article 2. Applicability

2. Joint-stock limited liability companies with a single shareholder owned by the State (hereinafter referred to as the company) include: Parent companies of economic groups, parent companies of state corporations, parent companies in the parent-subsidiary model, independent companies held 100% by the State.

3. Other enterprises are joint-stock companies, joint ventures, and limited liability companies with two or more shareholders having State-owned capital contributions.

4. Supervisors in joint-stock limited liability companies with a single shareholder owned by the State (hereinafter referred to as Supervisors) are individuals appointed and reappointed by the owners to assist the owners in supervising the implementation of the owners' rights and obligations, the management and operation of business activities by the Board of Directors or Chairman of the company and General Manager (Director) in joint-stock limited liability companies, and compliance with the owners' regulations and laws at subordinate units.

5. Representative under power of attorney: is a civil servant belonging to a state management agency (Ministry, Provincial People's Committee authorized by the Government,

Article 3. Explanation of Terms

Some terms in this Circular are understood as follows:

6. Representative under contract: is an individual who enters into a contract with the owner of the State capital to perform the rights, responsibilities, and obligations of the owner of the State capital invested in another enterprise (hereinafter referred to as the Representative under contract).

ESTABLISHMENT AND MANAGEMENT OF FUNDS FOR SALARIES, REMUNERATION, AND BONUSES FOR SUPERVISORS AND STATE CAPITAL REPRESENTATIVES

3. Other enterprises are joint-stock companies, joint venture companies, and limited liability companies with two or more shareholders having capital contributions from owners.

4. The supervisor of a single-member limited liability company owned by the State (hereinafter referred to as the Supervisor) is an individual appointed and reappointed by the owner to assist the owner in supervising the organization's implementation of the owner's rights and obligations, the management and operation of business activities by the Board of Members or the Chairman of the company and the General Director (Director) at a single-member limited liability company, compliance with the owner's regulations, and laws at subordinate units.

5. Authorized representative: is a civil servant belonging to a state administrative agency (Ministry, Provincial People's Committee authorized by the Government),

6. Contractual representative: is an individual contracted by the owner of the state capital to perform the rights, responsibilities, and obligations of the owner of the state capital invested in other enterprises (hereinafter referred to as the Contractual Representative).

PART II

WITHDRAWAL, MANAGEMENT OF FUNDS FOR SALARIES, FEES, AND BONUSES FOR SUPERVISORS AND STATE CAPITAL REPRESENTATIVES

Article 4. Establishment of the salary, remuneration, and bonus fund for Supervisors and State Capital Representatives

The Owner (Ministry managing the industry, People's Committee of provinces and centrally governed cities) and the Ministry of Finance (for Financial Supervisors at state-owned economic groups) shall establish and approve the settlement of the salary, remuneration, and bonus fund for Supervisors and State Capital Representatives. This fund shall be managed by financial accounting units under the Ministries managing the industry, the Department of Corporate Finance under the Ministry of Finance, and the Departments of Finance under the People's Committees of provinces and centrally governed cities, and shall open separate accounts at the national treasury to receive salaries, remunerations, and bonuses for Supervisors and State Capital Representatives.

Article 5. Establishment of the Salary, Remuneration, and Bonus Fund for Supervisors and State Capital Representatives at Enterprises

1. In the first quarter of each year, based on the prescribed regulations, enterprises shall determine the amount of salary and remuneration according to the plan to be paid to Supervisors; for State Capital Representatives, this shall be based on the resolution of the shareholders' meeting of the enterprise, serving as the basis for allocating into the production and business costs of the enterprise. If the resolution of the shareholders' meeting of the enterprise is made after the first quarter, the enterprise shall temporarily determine the amount of salary and remuneration to be paid to State Capital Representatives to allocate into the production and business costs of the enterprise at the level of the previous year's plan. After receiving the resolution of the shareholders' meeting, the enterprise shall adjust the planned amount of salary and remuneration to be paid to State Capital Representatives according to the resolution of the shareholders' meeting.

2. Before the 15th day of the first month of each quarter, the enterprise shall transfer the quarterly salary and remuneration to the salary, remuneration, and bonus fund for Supervisors and State Capital Representatives managed by the Ministry of Finance, the Ministry managing the industry, or the People's Committee of provinces and centrally governed cities.

3. At the end of the year when the settlement of the salary and remuneration fund for Supervisors and State Capital Representatives is completed, the enterprise shall allocate additional funds into the costs to supplement the transfer to the salary, remuneration, and bonus fund for Supervisors and State Capital Representatives in cases where the settlement amount exceeds the temporarily allocated amount. If the temporarily allocated amount exceeds the settlement amount, the enterprise shall record a reduction in production and business costs for the year equal to the difference between the temporarily allocated amount at the beginning of the year and the settlement amount, and simultaneously notify the Owner or the Ministry of Finance (for Financial Supervisors at state-owned economic groups) of the excess and return the difference.

4. Bonuses for Supervisors and State Capital Representatives: Joint Stock Companies Limited Liability and other enterprises shall decide to award bonuses to Supervisors and State Capital Representatives concurrently with the decision to award bonuses to management staff and employees of the company, and shall transfer the bonuses payable to Supervisors and State Capital Representatives to the salary, remuneration, and bonus fund for Supervisors and State Capital Representatives managed by the Ministry managing the industry, the People's Committee of provinces and centrally governed cities, or the Ministry of Finance (for Financial Supervisors at state-owned economic groups).

Article 6. Management of the fund for salaries, fees, and bonuses of Supervisors and State Capital Representatives

1. The fund for salaries, fees, and bonuses of Supervisors and State Capital Representatives shall be monitored under a separate account at the state treasury by financial accounting units with management functions under relevant Ministries, the Department of Corporate Finance under the Ministry of Finance, or the Finance Departments under People's Committees of provinces and centrally-administered cities (with the name of the account holder, account number at the state treasury, and unit code related to the budget). The account holder named on the account shall be the head of the unit or a person authorized according to regulations, while also appointing an accounting officer to monitor the fund account.

2. Units holding the fund accounts for salaries, fees, and bonuses of Supervisors and State Capital Representatives shall be responsible for establishing management and usage regulations; maintaining accounting books to track transactions related to the fund account, and reconciling transaction amounts and balances with the state treasury quarterly.

3. At the end of the accounting period, financial accounting units under relevant Ministries, the Department of Corporate Finance under the Ministry of Finance, or the Finance Departments under People's Committees of provinces and centrally-administered cities shall be responsible for preparing final reports on the fund for salaries, fees, and bonuses of Supervisors and State Capital Representatives according to regulations, and reporting to the owner or the Ministry of Finance (for Financial Supervisors at state-owned economic groups) for review and approval.

Article 7. Payment of Salaries, Fees, and Bonuses for Supervisors and State Capital Representatives

1. Based on the results of evaluating the completion of tasks by Supervisors and Representatives by the owner or the Ministry of Finance (for Financial Supervisors at state-owned economic groups), and based on the actual performance of assigned tasks, results, and effectiveness of work by Supervisors and Representatives, the owner or the Ministry of Finance (for Financial Supervisors at state-owned economic groups) shall decide the amount of salary and fee payments for Supervisors and Representatives. Monthly, Supervisors and Representatives shall receive 80% of their annual salary and fee amount divided by twelve months; the remaining portion (based on the final salary settlement of the enterprise) shall be paid at the end of the year based on the degree of completion of assigned tasks evaluated by the owner or the Ministry of Finance (for Financial Supervisors at state-owned economic groups), specifically as follows:

a) Supervisors and Representatives who are rated as having completed their tasks or better shall receive the remaining portion of their salary and fee.

b) Supervisors and Representatives who are rated as not completing their tasks shall not receive the remaining portion of their salary and fee.

2. Non-professional Supervisor fees and non-professional Representative fees shall be calculated based on the workload and time spent, but shall not exceed 20% of the salary of a professional Supervisor or a professional Representative. In cases where a person is appointed to serve as a non-professional Supervisor or a non-professional Representative in multiple single-member limited liability companies or other enterprises, the maximum payment shall not exceed 50% of the actual salary received at the dispatching agency or unit. If 50% of the actual salary of the Supervisor or Representative at the dispatching agency or unit is lower than 20% of the salary of a professional Supervisor or a professional Representative, then the dispatching agency or unit shall determine the non-professional Supervisor or non-professional Representative fee within the limit of not exceeding 20% of the salary of a professional Supervisor at the single-member limited liability company or a professional Representative at another enterprise. In cases where there is no professional Supervisor in the company, the non-professional Supervisor fee shall be calculated up to 20% of the Deputy General Manager or Deputy Director's salary. In cases where there is no professional Representative, the non-professional Representative fee shall be calculated up to 20% of the salary of a person holding a similar position to the Representative in that enterprise.

3. Annually, based on the degree of completion of assigned tasks, the owner shall decide on bonus payments for Supervisors and Representatives, which shall not exceed 90% of the bonus that Supervisors and Representatives are entitled to. The remaining portion shall be paid after the term ends based on the degree of completion of tasks throughout the term of the Supervisor or Representative. In cases where the term has not ended but the Supervisor or Representative ceases to perform their duties due to being reassigned to other work or retirement, the owner shall consider and decide on the specific amount to be paid for the remaining bonus (10%) during the period of serving as a Supervisor or Representative.

4. At the end of the year, the owner or the Ministry of Finance (for Financial Supervisors at state-owned economic groups) shall decide on the evaluation results of the degree of completion of tasks by Supervisors and Representatives as the basis for paying the remaining portion of salaries, fees, and bonuses for Supervisors and Representatives. Any surplus in the fund for salaries, fees, and bonuses of Supervisors and State Capital Representatives shall be carried over to the next year for continued use.

5. By the end of the first quarter of the following year, the owner or the Ministry of Finance (for Financial Supervisors at state-owned economic groups) shall publicly disclose the evaluation results of the degree of completion of tasks by Supervisors and Representatives; the fund for salaries, fees, and bonuses of Supervisors and State Capital Representatives; the salary, fee, and average monthly and annual income (of the previous adjacent year) of Supervisors and Representatives on the website of the owner's agency or the Ministry of Finance (for Financial Supervisors at state-owned economic groups) and send it to the Ministry of Labor, Invalids, and Social Affairs for consolidation and monitoring.

Section III

IMPLEMENTATION

Article 8. Effective Date

1. This Circular shall take effect from February 14, 2014. The provisions of this Circular shall be applied from January 1, 2014.

a) All previous regulations of agencies regarding the payment of salaries, fees, and bonuses to Supervisors and State Capital Representatives that conflict with this Circular are hereby abolished.

b) Joint Stock Companies with State Ownership shall appoint Supervisors and State Capital Representatives at subsidiary companies based on the provisions of this Circular to establish rules governing the allocation, management, and payment of salaries, fees, and bonuses for Supervisors and Representatives appointed by the company.

c) For cases where the Owner has appointed civil servants as Supervisors in Joint Stock Companies with State Ownership; or authorized civil servants to act as dedicated Representatives in other enterprises before this Circular takes effect, the Owner shall review the appointees: - If they are civil servants of the Owner's agency, they shall be implemented according to the provisions of this Circular. - If they are no longer civil servants of the Owner's agency, contracts shall be signed with Supervisors and Representatives from January 1, 2014.

2. For Ministries, Provincial People's Committees, and Central City People's Committees that have established funds for salaries, fees, and bonuses for Supervisors and Representatives prior to the effective date of this Circular, they shall continue to allocate and pay according to their own regulations. The balance of the fund as of December 31, 2013 shall be carried over to the next year and implemented in accordance with this Circular.

3. During implementation, if there are difficulties or obstacles, agencies and units are requested to report to the Ministry of Finance for consideration and resolution./.