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Law firms to give Tet bonuses of VND99mil   2008-12-23 - VNE

Reports about Tet bonus plans of foreign-invested enterprises show that garment and footwear companies will give the lowest Tet bonuses (VND100,000). Meanwhile, 109 other companies are giving the average Tet bonus of VND3.766mil/ labourer.


In 2007, the average bonus was VND2.176mil for each employee.

According to the HCM City Department of Labour, War Invalids and Social Affairs Le Thanh Tam, 147 enterprises have submitted reports about Tet bonus plans so far. Tam said that at this time in previous years, 600-700 companies had submitted these reports to the department.


According to the department, as for the 109 enterprises which have been operating under the Enterprise Law and have submitted reports, the average bonus is 17.3% higher than last year. In 2007, the average bonus was VND2.176mil for each employee.


The department said that in the fields of service and trade, and small- and medium-size enterprises, which employ less than 100 labourers, the lowest bonus level is VND50,000 per staff.


In 38 foreign-invested enterprises, the average bonus is 7.55% higher than last year (VND2.932mil), while it was VND2.224mil in 2007. The record high bonuses have been promised by law firms, VND98.5mil for each staff member ($5,800).


Tam said that though he still has not received reports from all enterprises yet, he believes that Tet bonuses this year will be generally higher than last year.


Under the current regulations, the year-end bonus is determined in accordance with agreements reached between labourers and employers, and changes can only be made after re-discussion. “As far as I know, there are not many enterprises which have asked to re-discuss bonuses,” Tam said.


Tam added that footwear, garment and woodwork industries this year are facing a lot of difficulties due to decreases in orders. Therefore, these enterprises will be giving considerably smaller Tet bonuses.


Every year, HCM City has 270,000 new jobs. There are 40,000 businesses now operating under the Enterprise Law, and 260,000 foreign-invested enterprises.


Last year, the highest Tet bonus, VND240mil, belonged to a foreign-invested information technology enterprise.

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