Legal document newsletter week 12/04/2024
NEW DRAFT DECREE ON MINIMUM WAGE TO APPLY FROM JULY 1, 2024
On January 12, 2024, the National Wage Council issued Report 02/BC-HDTLQG to the Government recommending adjusting the minimum wage to an average increase of 6%, applicable from July 1, 2024. From July 1, 2024, the salary policy will be implemented for overall reform according to Resolution 27-NQ/TW dated May 21, 2018 of the Seventh Conference of the Central Executive Committee term XII, salary The public sector will increase, accordingly, there needs to be an adjustment in the minimum wage of the business sector to ensure the general correlation.
The Draft Decree regulates the minimum wage for employees working under labor contracts , increasing the minimum wage by 6% compared to the current level to apply from July 1, 2024 (coincident with the method). The National Wage Council project reported to the Government on January 12, 2024 according to Report 02/BC-HDTLQG). In particular, regarding the minimum wage, the Ministry of Labor, War Invalids and Social Affairs proposes to regulate monthly minimum wages in 4 regions:
– Region I is 4,960,000 VND/month
– Region II is 4,410,000 VND/month
– Region III is 3,860,000 VND/month
– Region IV is 3,450,000 VND/month.
The draft also proposes adjusting the areas where regional minimum wages apply, including:
- Upgrade region II to region I for some localities such as Quang Yen, Dong Trieu, Uong Bi and Mong Cai in Quang Ninh province.
- Upgrade region III to region II for: Thai Binh, Thanh Hoa, Sam Son, Nghi Son, Bim Son, Ninh Hoa and Soc Trang.
- Upgrade region IV to region III for: Thai Thuy, Tien Hai, Trieu Son, Tho Xuan, Yen Dinh, Vinh Loc, Thieu Hoa, Ha Trung, Hau Loc, Nga Son, Hoang Hoa and Nong Cong, Ninh Phuoc.