Illustration photo |
Under the newly-approved Decree, the minimum wage will be applied for four different regions in Việt Nam.
Region |
Minimum salary per month between October 1, 2011 and December 31, 2012 |
Minimum salary per month in foreign-invested companies (according to Decree 107/2010/NĐ-CP) |
Minimum salary per month in local enterprises (according to Decree 108/2010/NĐ-CP) |
I |
VND 2,000,000 (US $95) |
VND 1,550,000 |
VND 1,350,000 |
II |
VND 1,780,000 (US $81) |
VND 1,350,000 |
VND 1,200,000 |
III |
VND 1,550,000 (US $74) |
VND 1,170,000 |
VND 1,050,000 |
IV |
VND 1,400,000 (US $66) |
VND 1,100,000 |
VND 830,000 |
The new salary benchmarks are VND 300,000 (US $14.25) and VND 650,000 (US $31) higher than the current levels.
The Decree sets the flooring rates for employers to calculate salaries, allowances and welfare benefits for their employees in line with the law.
The Decree also encourages enterprises to pay their employees higher than the region-based minimum wages. Especially, skilled employees should be paid seven times more than the minimum wage./.
By Kim Anh