This Decree stipulates salaries, fees, and bonuses for managers and Supervisors at state-owned single-member limited liability companies holding 100% of the charter capital. The provisions take effect from April 10, 2024, and replace old systems from January 1, 2024.
Đối tượng áp dụng
Managers and Supervisors at state-owned single-member limited liability companies holding 100% of the charter capital; the agency representing the owner; and related organizations.
Các điểm cốt lõi
- Dedicated managers and Supervisors shall have their salary scales established based on production and business performance.
- The planned salary fund is determined based on the basic salary level and additional coefficients based on company profits.
- Monthly advance salary of 80%, settled at year-end; bonuses paid partially at year-end, with the remainder after the term of office.
- Non-dedicated managers and Supervisors shall be entitled to a maximum fee of 20% of the dedicated salary.
- The company must disclose information about the salaries and income of managers and Supervisors.
🌐 Tác động xã hội từ văn bản này
- Establishing a legal basis for determining and paying salaries to managers and Supervisors at state-owned enterprises.
- Balancing economic interests and social responsibilities of state-owned enterprises.
- Aligning with market salary levels while ensuring competitiveness.
❓ Câu hỏi thường gặp
How is the salary of managers and Supervisors determined?
Salaries are based on production and business performance and management results. The maximum salary does not exceed 20% of the dedicated salary.
How is the planned salary fund determined?
The planned salary fund is based on the basic salary level and additional coefficients, depending on company profits. The maximum increase does not exceed 2.5 times.
How are bonuses paid?
Bonuses are paid partially at year-end, with the remainder after the term of office. The company must disclose information about the salaries and income of managers and Supervisors on its website as required.
What is the maximum fee for non-dedicated managers and Supervisors?
Maximum fee of 20% of the dedicated salary.
What information must the company disclose about managers and Supervisors?
The company must disclose information about the salaries and income of managers and Supervisors on its website as required.
Toàn văn
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| SOCIALIST REPUBLIC OF VIET NAM
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DECREE
Regulations on salaries, remuneration, and bonuses for managers and Supervisors of a single-member limited liability company wholly owned by the State
Decree No. 52/2016/NĐ-CP dated June 13, 2016, issued by the Government, stipulates salaries, remuneration, and bonuses for managers of a single-member limited liability company wholly owned by the State, which took effect from August 1, 2016, has been amended and supplemented by:
Decree No. 21/2024/NĐ-CP dated February 23, 2024, issued by the Government, amending and supplementing certain articles of Decree No. 51/2016/NĐ-CP dated June 13, 2016, issued by the Government, concerning labor management, salaries, and bonuses for employees working in a single-member limited liability company wholly owned by the State, and Decree No. 52/2016/NĐ-CP dated June 13, 2016, issued by the Government, stipulating salaries, remuneration, and bonuses for managers of a single-member limited liability company wholly owned by the State, which took effect from April 10, 2024.
Pursuant to the Law on Government Organization dated June 19, 2015;
Based on the Labor Code dated June 18, 2012;
Based on the Enterprise Law dated November 26, 2014;
Pursuant to the Law on Management and Use of State Capital for Investment in Business Operations dated November 26, 2014;
Decree No. 07/2021/NĐ-CP
The Government issues a Decree stipulating salaries, remuneration, and bonuses for managers of a single-member limited liability company wholly owned by the State[2].
Article 1. Scope of application
This Decree stipulates salaries, remuneration, and bonuses for managers and Supervisors[3] of a single-member limited liability company wholly owned by the State, including:
1. A single-member limited liability company wholly owned by the State that is the parent company of a state economic group, the parent company of a state corporation, or the parent company within a group of parent companies - subsidiary companies.
2. An independent single-member limited liability company wholly owned by the State.
Article 4. Principles for Determining and Paying Salaries, Fees, and Bonuses
Article 2. Applicability
1. Full-time managers and Supervisors[4] and part-time managers and Supervisors, including: Chairman of the Board of Members or Company Chairman; Member of the Board of Members; Head of the Audit Board; Supervisor; General Director, Director, Deputy General Director, Deputy Director, Chief Accountant (excluding General Directors, Directors, Deputy General Directors, Deputy Directors, and Chief Accountants employed under a labor contract)[5] non-executive, including: Chairman of the Board of Members or Company Chairman; Member of the Board of Members; Head of the Supervisory Board; Supervisor; General Director, Director, Deputy General Director, Deputy Director, Chief Accountant (excluding General Director, Director, Deputy General Director, Deputy Director, Chief Accountant working under a labor contract).
2. Ministries, agencies at the ministerial level, government-affiliated agencies, provincial People's Committees, municipal People's Committees directly under the central government, or organizations established according to the provisions of the law, assigned by the Government to exercise the rights and responsibilities of the State owner regarding the company (hereinafter referred to collectively as the State owner representative agency).
3. Agencies, organizations, and individuals related to the salaries, remuneration, and bonuses for managers and Supervisors[6].
Article 3. Classification of salaries for full-time managers and Supervisors[7]
1. Based on the organizational structure of management, the Board of Members or the Company Chairman shall establish and issue a salary scale and classify salaries for full-time managers and Supervisors as the basis for implementing social insurance, health insurance, unemployment insurance, and other benefits as prescribed by labor laws.
2. Salary levels in the salary scale shall be decided by the Board of Members or the Company Chairman, but must ensure that the total salary fund calculated based on the salary levels in the salary scale does not exceed the planned salary fund for full-time managers and Supervisors as stipulated in this Decree.
3. When establishing or amending the salary scale for managers and Supervisors, the Board of Members or the Company Chairman must seek the opinions of the employee representative organization at the workplace, conduct dialogue at the workplace as prescribed, report to the State owner representative agency for approval, and publicly announce it at the company before implementation.
Article 4. Principles for Determining and Paying Wages, Fees, and Bonuses
1. Wages for full-time managers and supervisors shall be determined and paid based on production and business efficiency, management results, and control outcomes, with a maximum cap and ensuring reasonable parity with the wages of employees within the company.[8] executive is determined and paid based on production and business efficiency, management and operation results or supervision, with a maximum benefit cap and ensuring a reasonable correlation with the salary of employees within the company.
2. Fees for part-time managers and supervisors at the company shall be calculated based on work tasks and working hours, but not exceeding 20% of the wages of full-time managers and supervisors.[9] non-executive at the company is calculated based on work and working hours, but not exceeding 20% of the salary of managers, Supervisors.[10] 3. For managers and supervisors representing capital contributions in multiple companies, the fees paid by other companies may be remitted to the company for payment according to the level of task completion, but not exceeding 50% of the actual wage received at the company. The remaining portion, if any, shall be recorded as other income of the company.[11] appointed to represent capital contributions in multiple companies then the remuneration from other companies can be submitted to the company for payment according to the level of task completion, but not exceeding 50% of the actual salary received at the company. The remaining portion (if any) shall be recorded as other income of the company.
4. The wage and fee fund for managers and supervisors shall be determined annually, separately from the wage fund for employees, established by the company and submitted for approval by the owner. Monthly, managers and supervisors may be advanced 80% of the estimated monthly wages and fees; the remaining 20% shall be settled and paid out at year-end.[12] is determined annually, separate from the wage fund of employees, established and submitted for approval by the owner. Monthly, managers, Supervisors[13] may be advanced by 80% of the estimated monthly salary and remuneration; the remaining 20% will be settled and paid at the end of the year.
5. Wages and fees of managers and supervisors shall be accounted for in cost of goods sold or operating expenses and reflected as a separate item in the annual financial report of the company.[14] shall be recorded in cost or business expenses and reflected as a separate item in the annual financial report of the company.
6. Bonuses for managers and supervisors shall be determined annually based on production and business efficiency, management results, and control outcomes, with a portion paid at year-end and the remainder paid upon completion of the term.[15] is determined annually corresponding to production and business efficiency, management and operation results or supervision, partially paid at the end of the year, the remainder after the term ends.
7. In cases where the Chairman of the Company concurrently holds the position of General Director or Director, they shall only receive the wage of the highest-ranking position.
7. Salary, bonuses, and remuneration of the Head of the Supervisory Board, Supervisors shall be determined according to this Decree, after deducting the amount payable for social insurance, health insurance, and other amounts as prescribed by law to be paid to the insurance authority; the company shall submit to the representative body of the owner to form a common fund and pay Supervisors according to the degree of task completion.[16].
8.[17]8. Wages, bonuses, and fees for the Head of the Supervisory Board and supervisors shall be determined in accordance with this Decree, after deducting amounts required to be paid for social insurance, health insurance, and other deductions as prescribed by law to be remitted to the relevant authorities. The company shall submit the remaining amount to the representative of the owner to form a common fund and pay supervisors according to their level of task completion.
Article 5. Determination of the Wage Fund and Remuneration Plan
9. In cases where the Supervisory Board of the company has only one supervisor as stipulated in Article 103 of the Enterprise Law, the supervisor shall receive the wages, fees, and bonuses of the Head of the Supervisory Board.[18] executive and the average planned salary according to Clause 2 of this Article.
2.[19] Article 5. Determination of Planned Wage Fund
1. The planned wage fund shall be determined based on the number of full-time managers and supervisors and the average planned wage level as stipulated in Clause 2 of this Article.
Additional Coefficient Table
| 2. The average planned wage level shall be determined based on the basic wage level specified in Appendix I and Appendix II accompanying this Decree and an additional factor compared to the basic wage level according to the planned profit increase over the previous year as follows: Profit Level | 0,5 | 1,0 | 1,5 | 2,0 | 2,5 |
| Table of Additional Factors | Less than 500 billion VND | Additional Factor | Profit Level | by Industry Group | 1. Group 1: Banking, finance (excluding securities market organizations and securities depository organizations), telecommunications |
| Under VND 500 billion | From VND 500 billion to under VND 1.5 trillion | From VND 1.5 trillion to under VND 2 trillion | From VND 2 trillion to under VND 3 trillion | Profit Level | VND 3 trillion and above |
| 2. Group 2: Oil and gas exploration and processing, mining, electricity, trade, services | Under VND 300 billion | From VND 300 billion to under VND 1 trillion | From VND 1 trillion to under VND 1.5 trillion | From VND 2 trillion to under VND 3 trillion | VND 2 trillion and above |
3. Group 3: Securities market organizations, securities depository organizations, and other sectors
Under VND 200 billion
From VND 200 billion to under VND 700 billion
From VND 700 billion to under VND 1 trillion
VND 1.5 trillion and above
3. A company that produces and trades products and services with state-prescribed production and trading quotas, leading to labor productivity and planned profit not increasing compared to the previous year shall be entitled to a maximum increase in average wage not exceeding the forecast consumer price index for the year as stipulated in the National Assembly's Resolution on the annual socio-economic development plan.
4. A company that implements public goods products and services ordered by the State and assigned plans[20] shall have its profit target replaced by a volume target for products and services and tasks, where the volume of products and services and tasks is not lower than the previous year's implementation, then the maximum level of actual average wage shall be calculated as the basic wage multiplied by the forecast consumer price index for the year as stipulated in the National Assembly's Resolution on the annual socio-economic development plan. The specific level of wages shall be determined by the representative body of the owner, in accordance with the prevailing wage levels in the locality.
4a.[21] For companies operating without profit objectives, when determining wages according to the provisions of Clause 2 and Clause 3 of this Article, the profit target shall be replaced by a total revenue minus total expenses target.
5. The planned remuneration fund for non-executive directors and supervisors[22] shall be based on the number of non-executive directors and supervisors, working time, and the remuneration level as stipulated in Clause 2, Article 4 of this Decree.[23] When determining the average wage level, the wage fund, and the planned remuneration for directors and supervisors, the company shall exclude any objective factors (if any) affecting labor productivity and planned profit compared to the previous year's implementation, including:
6.[24] a) The State adjusts prices, production and trading quotas (for products and services priced or quota-limited by the State), grants corporate income tax benefits, increases or decreases state capital, requires the company to relocate, reduce production and trading locations, adjust mechanisms and policies directly impacting the company's labor productivity and profit targets.
b) The company participates in implementing political tasks, national defense security, social welfare assurance, supply-demand balance for the economy as decided by the Prime Minister; carries out investment, reception, or transfer of state capital ownership rights according to government or Prime Minister directives; receives, purchases, sells, writes off, defers, and processes debts, assets, purchases, and sells products and services as prescribed by law or required by competent state agencies; implements retroactive clauses as stipulated by the government; increases depreciation to recover capital quickly as prescribed by tax laws; adjusts operational policies according to requirements from competent state agencies, agreements, treaties, or international organization regulations that Vietnam is a member of; implements restructuring, supplementing, or divesting investment capital at other enterprises; new investments, expanding production and trading; adjusting or newly establishing financial risk and credit reserves as prescribed by law; providing products and services with state-set prices and adjustment mechanisms but not fully adjusted to cover reasonable production and trading costs when price-forming factors change as stipulated by the Price Law; allocates costs for unsuccessful oil exploration and exploitation projects as prescribed by the government; determines corporate income tax according to oil contracts for oil exploration, exploitation companies as prescribed by tax laws; purchase debt turnover not recorded in revenue and profit for debt buying and selling companies as prescribed by law; revenue fluctuations from securities market organization activities and securities custody business operations; bonus differences compared to previous years' performance for lottery businesses; changes in mining environment and conditions for mining companies.
b) Companies participating in implementing political tasks, national defense security, ensuring social welfare, balancing supply and demand in the economy as decided by the Prime Minister; implementing investment, receiving or transferring state ownership rights according to the Government's or Prime Minister's directives; receiving, buying, selling, writing off, deferring, and handling debts, assets, products, and services according to laws or requirements of competent state agencies; implementing retroactive clauses as prescribed by the Government; increasing depreciation to recover capital quickly as prescribed by tax laws; adjusting business policies according to the requirements of competent state agencies, Agreements, Treaties, or regulations of international organizations to which Vietnam is a member; implementing restructuring plans, supplementing or divesting investments in other enterprises; new investments, expanding production and business; adjusting or newly generating financial risk provisions according to legal provisions; providing products and services priced and regulated by the state but not yet adjusted to cover actual reasonable production and business costs when price formation factors change as prescribed by the Price Law; allocating costs of unsuccessful oil exploration and exploitation projects as prescribed by the Government; determining corporate income tax according to oil contracts for oil exploration, exploitation companies as prescribed by tax laws; purchase debt turnover, debt handling not recorded as revenue and profit for debt purchasing companies as prescribed by law; revenue fluctuations from securities market organization activities and securities custody operations; bonus differences compared to the previous year for lottery businesses; changes in mining conditions for mining companies.
4. When the company implements public goods products and services ordered by the State, assigned plans, or tendered contracts, the corresponding planned salary fund for the volume of public goods products and services is determined based on the volume of public goods products and services ordered by the State, assigned plans, or tender contracts.
Article 6. Determination of the wage and remuneration fund for implementation
1. The wage fund for implementation of the management personnel and Supervisors on a full-time basis shall be based on the number of such personnel and the average planned wage level linked to the degree of achievement of the targets specified in Article 5 of this Decree, provided that if the realized profit (after excluding objective factors according to regulations) exceeds the planned profit by 1%, then the management personnel and Supervisors shall be entitled to an additional 1% of their wages, but not exceeding 20% of the average planned wage level.[25] executive is based on the number of managers, Supervisors[26] executive and the average planned salary linked to the degree of achievement of the targets set out in Article 5 of this Decree, where if the realized profit (after excluding objective factors as prescribed) exceeds the planned profit, for every 1% increase in profit, managers, Supervisors[27] may receive an additional maximum of 1% salary, but not more than 20% of the average planned salary.
2. The remuneration fund for implementation of the management personnel and Supervisors on a part-time basis shall be determined based on the working time and the remuneration level stipulated in Clause 2 of Article 4 of this Decree.[28] shall be based on the number of non-executive directors and supervisors, working time, and the remuneration level as stipulated in Clause 2, Article 4 of this Decree.[29] non-executive, working time, and remuneration according to Clause 2 of Article 4 of this Decree.
3. The company must evaluate the implementation of objective factors affecting labor productivity and actual profit compared to the plan to exclude them when determining the wage and remuneration fund for implementation.
4. Based on the wage and remuneration fund for implementation and the advance wage and remuneration fund for the management personnel and Supervisors, the company shall determine the remaining wage and remuneration fund to be enjoyed. In case the advance payment exceeds the wage and remuneration fund for implementation, the excess amount must be refunded immediately within the year.[30], the company determines the remaining wage and remuneration fund to be enjoyed. In cases where the advance exceeds the actual wage and remuneration fund, the excess must be repaid immediately within the year.
Article 7. Bonus Fund
1. The annual bonus fund for the management personnel and Supervisors on a full-time and part-time basis shall be implemented in accordance with the Government's regulations on state capital investment in enterprises and the management and use of capital and assets in enterprises.[31] executive and non-executive shall be implemented according to the Government's regulations on state capital investment in enterprises and the management and use of capital and assets in enterprises.
2. The bonus fund stipulated in Clause 1 of this Article shall be allocated 90% annually for end-of-year bonuses. The remaining portion (10%) shall be used for bonuses at the end of the term based on the degree of completion of production and business tasks during the entire term of the management personnel and Supervisors.[32].
Article 8. Payment of Wages, Remuneration, and Bonuses
Article 8. Payment of Wages, Remunerations, and Bonuses[33] 1. Wages and bonuses shall be paid to the management personnel and Supervisors based on their contribution to the efficiency of production and business operations and the results of management, operation, or supervision, in accordance with the company's wage, remuneration, and bonus regulations.[34] according to the company's wage, remuneration, and bonus system.
2. The wage, remuneration, and bonus regulations shall be established in accordance with the law, ensuring democracy, transparency, and openness, with participation from the Company Trade Union Executive Board and approval from the representative body of the owner before implementation.
Article 9. Implementation responsibilities
1. The Board of Members or the Chairman of the Company:
a) In the first quarter of each year, establish the planned wage and remuneration fund for the management personnel and Supervisors linked to the production and business plan, ensuring a reasonable correlation with the wages of workers, and submit it to the representative body of the owner for approval.[35] linked to production and business plans, ensuring a reasonable correlation with employee salaries, submitted for approval by the representative body of the owner.
b) Based on the results of achieving production and business targets, determine the wage and remuneration fund for implementation, the bonus fund, and report to the representative body of the owner for approval no later than the first quarter of the following year. For the parent company of State Economic Groups, the parent company of Special-Class State-owned Joint Stock Companies, and State-owned Joint Stock Companies performing important public service functions, simultaneously send to the Ministry of Labor, Invalids, and Social Affairs for monitoring.
c) Determine and pay the wage, remuneration, and bonus amounts for the Head of the Supervisory Board and Supervisors to the representative body of the owner in accordance with this Decree.
d) Establishing systems, evaluating the degree of task completion, and deciding the remuneration to be received by managers, Supervisors[36] d) Establish regulations, assess the degree of task completion, and decide on the remuneration level for management personnel and Supervisors who are representatives of capital contributions in multiple companies and businesses.
đ) Establishing wage, remuneration, and bonus systems for managers, Supervisors[37] e) Report the wage, remuneration, and bonus regulations for the management personnel and Supervisors to the representative body of the owner before implementation.
f) Provide relevant documents and reports on the implementation of the wage, remuneration, and bonus system when requested by the Head of the Supervisory Board and Supervisors.
g) In the second quarter of each year, compile the wages, remunerations, bonuses, and the average monthly income of the previous year for each management personnel and Supervisor to report to the representative body of the owner; publicly disclose on the company's website in accordance with the law.[38] to report to the representative body of the owner; publicly disclosed on the company's website in accordance with the law.
2. The Head of the Supervisory Board and Supervisors:
a) Inspect and supervise the implementation by the Board of Members or the Chairman of the Company, General Director, and Director in accordance with this Decree.
b) Proposing to the Board of Members or Company Chairman, General Director, Director or reporting to the representative body of the owner upon discovering non-compliance with state regulations.
b) Recommend to the Board of Members or the Chairman of the Company, General Director, and Director or report to the representative body of the owner when discovering non-compliance with national regulations.
a) In the first quarter of each year, receiving, reviewing, and approving the previous year's wage, remuneration, and bonus funds and the planned wage and remuneration funds for managers, Supervisors[39]3. The representative body of the owner:[40] a) In the first quarter of each year, accept, review, and approve the wage and remuneration fund for implementation of the previous year and the planned wage and remuneration fund for the management personnel and Supervisors. For the wage and remuneration fund of the management personnel and Supervisors of the parent company of State Economic Groups, the representative body of the owner shall approve after obtaining the agreement of the Ministry of Labor, Invalids, and Social Affairs.
b) Submit to the Ministry of Labor - Invalids and Social Affairs, after approving the salary fund, remuneration fund, and management personnel bonus fund,[41] b) Send to the Ministry of Labor, Invalids, and Social Affairs the wage and remuneration fund and bonus fund of the management personnel and Supervisors of the parent company of State Economic Groups, Special-Class State-owned Joint Stock Companies, and State-owned Joint Stock Companies performing important public service functions for consolidation and monitoring after approval.
c) Establish evaluation regulations for the Head of the Supervisory Board and Supervisors; receive and manage the wage, remuneration, and bonus amounts paid by the company; assess the degree of task completion and pay the wage, remuneration, and bonus to the Head of the Supervisory Board and Supervisors.
If the Head of the Supervisory Board and Supervisors fail to complete their tasks, depending on the severity or violation, disciplinary measures such as not increasing wages, extending the wage increment period, reducing wages, remunerations, and bonuses, demoting the wage grade, reprimanding, warning, or dismissing them from their positions will be decided according to the law.
d) Provide opinions on the company's wage, remuneration, and bonus regulations; publicly disclose the wage and remuneration fund for implementation, the bonus fund, and the wage, remuneration, bonus, and average monthly income of the previous year for each management personnel and Supervisor.[42] on the website (Website) of the representative body of the owner in accordance with regulations, simultaneously compiling and sending to the Ministry of Labor - Invalids and Social Affairs for consolidation and monitoring.
d) Shall be responsible before the Government and the Prime Minister for the implementation of salary, remuneration, and bonuses in companies under their management.
4. The Ministry of Labor - Invalids and Social Affairs:
a) Shall take the lead and coordinate with relevant ministries to guide the implementation of salaries, remuneration, and bonuses in accordance with this Decree.
b) Shall take the lead and coordinate with relevant ministries and sectors to submit to the Government for consideration and adjustment of the basic salary of managers and Supervisors.[43] to be consistent with the reality of each period.
c) Participate in providing opinions for the representative body of the owner to decide on the salary fund and remuneration for managers and Supervisors[44] of the parent company - State-owned enterprise group; coordinate with the representative body of the owner to supervise the salaries, remuneration, and bonuses of managers and Supervisors[45] of the parent company of special-class state-owned holding corporations and state-owned holding corporations performing public service tasks that play a key role in the economy.
d) Shall take the lead and coordinate with the Ministry of Finance to issue standards for company ranking as the basis for setting salaries and determining the basic salary for managers and Supervisors[46] in accordance with this Decree.
d) Coordinate with the representative body of the owner to inspect, examine, and monitor the implementation of salary, remuneration, and bonus systems in companies. In case of discovering incorrect determination of the salary fund and remuneration, provide opinions for the representative body of the owner to instruct the company to adjust or eliminate according to regulations.
e) Compile the situation of salaries, remuneration, and bonuses for managers and Supervisors[47] and report periodically to the Prime Minister.
5. The Ministry of Finance:
a) Shall take the lead and coordinate with relevant ministries and sectors to guide the establishment and management of the salary fund, remuneration, and bonuses for Chairmen of Supervisory Boards and Supervisors in accordance with this Decree.[48].
b) Coordinate with the Ministry of Labor - Invalids and Social Affairs to issue standards for company ranking as the basis for setting salaries and determining the basic salary for managers and Supervisors[49].
Article 10. Effective Date[50]
1. This Decree takes effect from August 1, 2016. The salary, remuneration, and bonus systems prescribed in this Decree shall be applied from January 1, 2016.
2. This Decree replaces Decree No. 51/2013/NĐ-CP dated May 14, 2013 of the Government prescribing the salary, remuneration, and bonus system for members of the Board of Directors or General Managers, Supervisors, Chief Executives or Directors, Deputy Chief Executives or Deputy Directors, Chief Accountants in wholly state-owned limited liability companies.
3.[51] (Repealed)
4. The Military Telecommunications Group continues to apply pilot management of salaries for managers and Supervisors[52] in accordance with the provisions of the Government.
5. The Board of Directors or Chairman of the parent company of the company mentioned in Article 1 of this Decree shall organize the implementation of the salary, remuneration, and bonus system for managers and Supervisors[53] of wholly state-owned limited liability companies based on the provisions of this Decree.
6. For organizations established and operating under the model of wholly state-owned limited liability companies holding 100% of the charter capital as prescribed in the Securities Law, the Law on Credit Institutions, the Law on Deposit Insurance, financial funds outside the budget, and organizations handling the purchase and sale of debts of the State, which are currently applying the salary mechanism of wholly state-owned limited liability companies holding 100% of the charter capital, the Ministry of Labor - Invalids and Social Affairs shall guide the determination of salaries, remuneration, and bonuses for managers and Supervisors[54] in line with operational efficiency and in accordance with the specific characteristics of these organizations, after reaching consensus with relevant ministries and sectors.
7. Political organizations and political-social organizations shall consider and decide on the application of the provisions of this Decree for managers and Supervisors[55] of wholly state-owned limited liability companies held 100% by political organizations or political-social organizations.
8. Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairmen of provincial People's Committees, and the Board of Directors or Chairman of wholly state-owned limited liability companies holding 100% of the charter capital shall be responsible for implementing this Decree./.
| MINISTRY OF LABOR - INVALIDS AND SOCIAL AFFAIRS Number: 2650/VBHN-BLDTBXH
Place of Receipt: | CERTIFIED CONSOLIDATED DOCUMENT
Hanoi, June 21, 2024
DEPUTY MINISTER |
ANNEX I.COMPANY RANK[56]
(Attached to Decree No. 52/2016/NĐ-CP dated June 13, 2016 of the Government, amended and supplemented by Decree No. 21/2024/NĐ-CP dated February 23, 2024 of the Government)
1[57]. Use of company rank: Company rank is used to determine the basic salary level of dedicated managers and Supervisors
2. Company rank:
a) The State Economic Group rank applies to the parent company of state economic groups.
b) The Special State Holding Corporation rank applies to the parent company in the parent company - subsidiary model meeting all conditions: Playing a key role in the economy; Having state capital of VND 2.5 trillion or more, profit (or total revenue minus total expenses for non-profit companies) of VND 200 billion or more, having ten or more independent or dependent subsidiaries, or having production and business operations nationwide, fully fulfilling state budget payment obligations as stipulated. These indicators of capital, profit, or total revenue minus total expenses for non-profit companies are averaged over three years.[58].
Companies meeting the above conditions shall propose to the representative body of the owner to reach consensus with the Ministry of Labor - Invalids and Social Affairs and the Ministry of Finance to report to the Prime Minister for consideration and decision.
c) Category of State Corporation and equivalent applies to parent companies converted from State Corporations or converted from state-owned companies that have been classified according to the State Corporation category; parent companies in the parent company - subsidiary model meeting the following conditions: playing a significant role in the economy, having state capital of VND 1.8 trillion or more, profit (or total revenue minus total expenses for companies operating not for profit purposes) of VND 100 billion or more, having five or more independent accounting units (subsidiaries) or conducting production and business nationwide, fulfilling all obligations to pay state budget as prescribed. The criteria regarding capital, profit, or total revenue minus total expenses for companies operating not for profit purposes are calculated on average over three years.[59].
Parent companies in the parent company - subsidiary model meeting the above conditions shall propose the representative body of the owner to consider and decide after reaching consensus with the Ministry of Labor, Invalids and Social Affairs and the Ministry of Finance.
d) Category I, II, III companies apply to companies meeting the standards issued by the Ministry of Labor, Invalids and Social Affairs and decided by the representative body of the owner.
đ) Re-classify as Special State Corporation, State Corporation:
In the parent company - subsidiary model, after three years from the date of being classified as a Special State Corporation or State Corporation, the parent company must review the criteria according to the classification standards to reclassify the enterprise. If it still meets the conditions of the current classification, it shall report to the representative body of the owner to decide to continue classifying as a Special State Corporation or State Corporation after reaching consensus with the Ministry of Labor, Invalids and Social Affairs. If it does not meet the conditions of the current classification, the representative body of the owner will classify it at a lower level as prescribed.
ANNEX II. TABLE OF BASIC SALARY LEVELS TO DETERMINE THE SALARY POOL FOR MANAGERS AND AUDITORS[60] RESPONSIBILITY
(Attached to Decree No. 52/2016/ND-CP dated June 13, 2016 of the Government)
Unit: million VND/month
| Company Rank
Position | Basic Salary Level | |||||
| Group Enterprise standards | Special State Corporation | State Corporation and Equivalent current | the date | |||
| I | II | III | ||||
| 1. Chairman of the Board of Members or Full-time Chairman of the Company | 36 | 33 | 31 | 27 | 25 | 22 |
| 2. General Director or Director | 35 | 32 | 30 | 26 | 24 | 21 |
| 3. Head of the Audit Committee | 33 | 30 | 28 | 24 | 22 | 19 |
| 4. Full-time Member of the Board of Members, Full-time Auditor, Deputy General Director or Deputy Director | 32 | 29 | 27 | 23 | 21 | 18 |
| 5. Chief Accountant | 29 | 27 | 25 | 21 | 19 | 16 |
[1] The term "manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP dated February 23, 2024 of the Government amending and supplementing some articles of Decree No. 51/2016/ND-CP dated June 13, 2016 of the Government on labor management, salary, and bonuses for employees working in a limited liability company with 100% state capital and Decree No. 52/2016/ND-CP dated June 13, 2016 of the Government on salaries, remuneration, and bonuses for managers of a limited liability company with 100% state capital, effective from April 10, 2024.
[2] Decree No. 21/2024/ND-CP dated February 23, 2024 of the Government amending and supplementing some articles of Decree No. 51/2016/ND-CP dated June 13, 2016 of the Government on labor management, salary, and bonuses for employees working in a limited liability company with 100% state capital and Decree No. 52/2016/ND-CP dated June 13, 2016 of the Government on salaries, remuneration, and bonuses for managers of a limited liability company with 100% state capital (hereinafter referred to as Decree No. 21/2024/ND-CP), effective from April 10, 2024, is based on the following grounds:
"Pursuant to the Law on Organization of the Government dated June 19, 2015; the Law Amending and Supplementing Certain Articles of the Law on Organization of the Government and the Law on Organization of Local Administration dated November 22, 2019;
Pursuant to the Labor Code on November 20, 2019;
Pursuant to the Law on Enterprises dated June 17, 2020;
Law on Management and Use of State Capital for Investment in Production and Business Activities of Enterprises dated November 26, 2014;
Decree No. 07/2021/NĐ-CP
The Government promulgates this Decree to amend and supplement some articles of Decree No. 51/2016/ND-CP dated June 13, 2016 of the Government on labor management, salary, and bonuses for employees working in a limited liability company with 100% state capital and Decree No. 52/2016/ND-CP dated June 13, 2016 of the Government on salaries, remuneration, and bonuses for managers of a limited liability company with 100% state capital.”
[3] The term "manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[4] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[5] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[6] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[7] This provision is amended in accordance with Clause 2, Article 2 of Decree No. 21/2024/NĐ-CP, effective from April 10, 2024.
[8] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[9] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[10] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[11] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[12] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[13] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[14] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[15] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[16] The content "For financial supervisors at state-owned economic groups, submit to the Ministry of Finance for evaluation and payment" is abolished in accordance with Clause 8, Article 2 of Decree No. 21/2024/NĐ-CP, effective from April 10, 2024.
[17] This clause is added in accordance with Clause 3, Article 2 of Decree No. 21/2024/NĐ-CP, effective from April 10, 2024.
[18] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[19] This clause is amended and supplemented in accordance with Clause 4, Article 2 of Decree No. 21/2024/NĐ-CP, effective from April 10, 2024.
[20] The content "or a company operating not for profit purposes" is abolished in accordance with Clause 5, Article 2 of Decree No. 21/2024/NĐ-CP, effective from April 10, 2024.
[21] This clause is added in accordance with Clause 6, Article 2 of Decree No. 21/2024/NĐ-CP, effective from April 10, 2024.
[22] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[23] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[24] This clause is amended in accordance with Clause 7, Article 2 of Decree No. 21/2024/NĐ-CP, effective from April 10, 2024.
[25] The term "manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[26] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[27] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[28] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[29] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[30] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[31] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[32] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[33] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[34] The term "manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[35] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[36] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[37] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[38] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[39] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[40] The term "manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[41] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[42] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[43] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[44] The term "manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[45] The term "manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[46] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[47] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[48] The content "receiving, managing, and paying salaries, remuneration, and bonuses for financial supervisors submitted by state-owned economic groups" is abolished in accordance with Clause 8, Article 2 of Decree No. 21/2024/NĐ-CP, effective from April 10, 2024.
[49] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[50] Articles 3 and 4 of Decree No. 21/2024/NĐ-CP, effective from April 10, 2024, provide as follows:
“Article 3. Effectiveness
1. This Decree takes effect from April 10, 2024.
2. The regulations on salary funds, wage payments, remuneration, and bonuses stipulated in Clause 2, Article 1, Clauses 3, 4, 6, 7, and 10, Article 2 of this Decree shall be implemented from January 1, 2024.
Article 4. Responsibilities for Implementation
1. The Ministry of Labor - Invalids and Social Affairs shall take the lead and coordinate with relevant ministries to guide the implementation of the provisions of this Decree.
2. State financial funds outside the budget that are currently applying the salary mechanism under Clause 6, Article 10 of Decree No. 52/2016/NĐ-CP shall continue to apply a maximum additional salary coefficient of no more than 1.0 times the basic salary to determine the salary of managers and supervisors of the fund.
3. For securities trading centers, the Vietnam Securities Depository and Central Counterparty Corporation, when there are objective factors specified in point b, Clause 2, Article 1 of this Decree; point b and point c, Clause 2, Article 6 of Government Decree No. 59/2021/NĐ-CP dated June 18, 2021, which provides special contents regarding the financial management mechanism and performance evaluation for the Vietnam Securities Trading Center and the Vietnam Securities Depository and Central Counterparty Corporation, causing revenue increases of over 7% or decreases of over 3%, then the portion of revenue increase exceeding 7% (in cases where revenue increases by more than 7%) or the portion of revenue decrease exceeding 3% (in cases where revenue decreases by more than 3%) must be excluded from the revenue index used to determine labor productivity, profits linked to wages of workers, managers, and supervisors.
4. For organizations specified in Clause 6, Article 10 of Decree No. 51/2016/NĐ-CP, Clause 6, Article 10 of Decree No. 52/2016/NĐ-CP, and the Vietnam Microfinance Bank, the Ministry of Labor - Invalids and Social Affairs shall guide labor management, salaries, remuneration, and bonuses according to the salary mechanism prescribed by the Government in Decree No. 51/2016/NĐ-CP, Decree No. 52/2016/NĐ-CP, and this Decree, linked to labor productivity, operational efficiency, and consistent with the specific nature of these organizations, including the Ministry of Labor - Invalids and Social Affairs annually receiving, reviewing, monitoring, and supervising reports on labor plans and employee salary funds; receiving, examining, and approving salary, remuneration, and bonus funds for managers and supervisors of the Vietnam Microfinance Bank after consulting with the Ministry of Finance and the State Bank of Vietnam.
5. The Ministry of Labor - Invalids and Social Affairs shall guide the management of salaries for the Vietnam Television Station based on the provisions of Clause 9, Article 2 of Government Decree No. 60/2022/NĐ-CP dated September 8, 2022, concerning the functions, tasks, powers, and organizational structure of the Vietnam Television Station, and relevant laws, in accordance with the salary mechanism prescribed in Decree No. 51/2016/NĐ-CP and this Decree, linked to labor productivity and operational efficiency, and consistent with the specific nature of the station.
[51] This clause is abolished in accordance with Clause 9, Article 2 of Decree No. 21/2024/NĐ-CP, effective from April 10, 2024.
[52] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[53] The term "manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[54] The term "manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[55] The term "manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
[56] This annex is amended and supplemented in accordance with Clause 10, Article 2 of Decree No. 21/2024/NĐ-CP dated February 23, 2024, effective from April 10, 2024.
[57] This point is amended and supplemented in accordance with Point 2 of the attached Annex to Decree No. 21/2024/NĐ-CP dated February 23, 2024, effective from April 10, 2024.
[58] The content "profit of 200 billion VND or more, submitting 200 billion VND or more to the state budget (average indicators of capital, profit, and submission to the state budget over three years) and having ten or more subsidiary units or having a total workforce of the parent company and subsidiary units of 10,000 people or more" is amended and supplemented to read "profit (or total revenue minus total expenses for companies operating not for profit purposes) of 200 billion VND or more, having ten or more independent and dependent subsidiary units or having production and business operations nationwide, fully fulfilling the obligation to submit to the state budget as prescribed. Indicators of capital, profit, or total revenue minus total expenses for companies operating not for profit purposes are calculated over an average of three years" in accordance with Point 3 of the attached Annex to Decree No. 21/2024/NĐ-CP, effective from April 10, 2024.
[59] The content "profit of VND 100 billion or more, paying state budget of VND 100 billion or more and having five or more subsidiary units or having a total number of employees of the parent company and subsidiary units of 7,000 or more" shall be amended and supplemented to read "profit (or total revenue minus total expenses for companies not operating for profit) of VND 100 billion or more, having five or more subsidiary units (independent accounting and dependent) or conducting production and business nationwide, fully fulfilling the obligation to pay the state budget as prescribed. The indicators of capital, profit or total revenue minus total expenses for companies not operating for profit shall be averaged over three years" according to Point 4 of the Appendix accompanying Decree No. 21/2024/NĐ-CP, which takes effect from April 10, 2024.
[60] The term "company manager" is replaced by the term "manager, auditor" pursuant to Clause 1, Article 2 of Decree No. 21/2024/ND-CP, effective from April 10, 2024.
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