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Highest New Year bonus in HCM City announced

A foreign-invested firm in HCM City has announced to offer New Year bonuses of up to VND3.5 billion (USD152,173) per person.

 

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According to a representative from the HCM City Department of Labour, Invalids and Social Affairs, this was the highest New Year bonus among enterprises in the city.

He added that this is a foreign-owned firm operating in the sector of finance, banking and insurance.   Last year, the highest bonus for the New Year in the city was just VND500 million (USD21,739) and the figure for the Lunar New Year or Tet Holiday was nearly VND1.2 billion (USD52,173).

This year’s Tet bonus in HCM City is expected at VND800 million (USD34,782).

Le Minh Tan, director of the HCM City Department of Labour, Invalids and Social Affairs, said the department had conducted a survey on 1,100 local companies on the New Year and the Lunar New Year bonuses.

Bonuses this year were higher than last year. The average bonus for workers for the New Year would be VND3.3 million (USD143.7), while it would be VND10 million (USD434.78) for Tet.

Businesses in the areas of real estate, banking, insurance, finance and IT are expected to present the highest bonuses.

Many companies offer their staff gifts as the Tet bonus.

To date, 139 companies in Binh Tan District only submitted their plans on Tet bonuses with the highest level of VND200 million from a foreign-owned firm.

The Tet bonus has been part of Vietnamese culture for decades. It acts as a gauge to show how well the company has performed over the year and is also an opportunity for an enterprise to show its gratitude to employees. Dtinews

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