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HCM City’s private firm pays highest Tet bonus of $38,000

The highest bonus for the upcoming Lunar New Year (Tet) holiday has been reported at 855 million VND (37,900 USD) in a private business in Ho Chi Minh City, according to the Department of Industrial Relations and Wage under the Ministry of Labour-Invalids and Social Affairs.

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The highest bonus for the upcoming Lunar New Year (Tet) holiday has been reported at 855 million VND (37,900 USD) in a private business in Ho Chi Minh City. 

The Department recently announced the information on Tet bonus payment of 25,174 businesses that employ nearly 3.6 million labourers across the country.

This year, average year-end bonus increased 13 percent to 5.5 million VND (243.6 USD) per worker, equivalent to one-month salary.

Specifically, Tet bonus paid by state-owned one member limited liability companies is 5 million VND (221.5 USD), up 8.7 percent from 2017. 

Meanwhile, the rate for non-state-owned companies and foreign-invested companies are 5 million VND and nearly 5.7 million VND (252.5 USD), a year-on-year surge of 20.6 percent and 16 percent, respectively.

The lowest Tet bonus is 20,000 VND, which was recorded in a private business in Vinh Phuc province. The bonus is only equal to 40 percent of last year’s amount.

The department also reported the highest bonus for the solar New Year in a foreign-invested enterprise in Ho Chi Minh City, which stood at 1.5 billion VND (66,450 USD).

Source: VietNamNet

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