Minimum salary to increase from next year
Since January 1, 2013, minimum wage for employees in local enterprises and foreign-invested companies in Việt Nam will increase from VND 1,650,000 (US$82) to VND 2,350,000 (US$117), according to Decree 103/2012/NĐ-CP.
The newly-approved decree replaces Decree 70/2011/NĐ-CP, dated August 22, 2011.
Under the newly-approved Decree, the minimum wage will be applied for four different regions in Việt Nam.
The new salary benchmarks are VND 250,000 (US$12.5) and VND 350,000 (US$17.5) higher than the current levels.
The Decree sets the flooring rates for employers to underlie salaries, allowances and welfare benefits for their employees in line with the law.
Under the Decree, laborers serving apprenticeship must be given a payment of at least 7% higher than the regional minimum wage.
The Decree also encourages enterprises to pay their employees higher than the region-based minimum wages.
The new Decree will take effect on January 20, 2013./.
source: VGP
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