Minimum wage to be raised to $50.45 from May
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The Government has issued a decree to raise the common minimum wage rate from the current VND830,000 to VND1.05 million (US$50.45) per month, an increase of 25 percent, from May 1, 2012.
Common minimum wage rate will be raised by 25 percent from May 1, 2015 Photo: Internet
Under Decree No. 31/2012/ND-CP, dated April 12, the new minimum wage rate will be applied to civil servants and people working for State-owned agencies, the armed forces, political and socio-political organizations, public administrative organizations, and one-member limited companies owned by the State under the Law on Enterprise.
The new minimum wage rate serves as a legal basis for all relevant entities to calculate and determine salary levels and salary-based allowance levels for their staff from May 1, 2012.
It will also be used for calculating redundancy payments for workers who are made redundant because of reorganization of State-owned one-member limited companies, according to the decree.