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Tet bonuses in HCM City rise by 10 per cent

 VietNamNet Bridge – Tet (Lunar New Year) bonuses in HCM City are expected to rise 10.8 per cent compared to last year, with the average bonus being VND8.3 million (US$364), 

VietNamNet Bridge – Tet (Lunar New Year) bonuses in HCM City are expected to rise 10.8 per cent compared to last year, with the average bonus being VND8.3 million (US$364), according to a report from the city’s Department of Labour, Invalids and Social Affairs.


Workers in HCM City receive Tet gifts. Photo

As of the end of last month, 1,960 businesses with 260,000 workers in the city had submitted their plans for Tet bonuses, Le Minh Tan, director of the Department, said.

The highest Tet bonus of VND1.5 billion ($65,800) will be offered by a foreign direct investment banking company, while the average bonus at FDI companies will be VND2.7 million ($118) a worker.

At domestic companies, the average Tet bonus will be VND8.3 million ($364) a worker, and the highest Tet bonus at domestic companies VND855 million ($37,500) a worker.

Besides Tet bonuses, more than 800 businesses have reported that they will also offer support for disadvantaged workers such as free coach tickets and Tet gifts.

More than 300 enterprises at industrial parks and export processing zones in the city plan to offer Tet bonuses equal to at least one month salary, according to Tran Cong Khanh, head of the labour management office at the HCM City Export Processing and Industrial Zone Authority.

The average Tet bonus at Pou Yuen Vietnam Co. Ltd. in Binh Tan District, for example, will be equal to 1.2-2.2 months of salary per worker. 

In Dong Nai, the highest Tet bonus is granted to an employee at an FDI firm that manufactures basic chemicals at Go Dau Industrial Park – VND408 million ($18,000). Meanwhile, among the 179 firms in Can Tho City that sent Tet bonus report to local labour department, the highest rate is VND467 million ($20,700).

Chau Hong Thai, deputy head of Can Tho City’s labour department, said the locality’s economic situation had improved in 2017 so the Tet bonus rates among firms would probably be equal or higher than last year’s.

However, the news is not good for everyone. There are still those who wish they could just keep their jobs, never mind receiving a bonus.

Also according to a report from HCM City, 179 enterprises say they are struggling to pay monthly wage and Tet bonuses to their staff. And there are a few that aren’t even thinking about giving Tet bonuses.

Five enterprises in HCM City have reported to the local authority that they owe monthly payment and social insurance fees to 879 workers.

Kieu Ngoc Vu, vice president of HCM City Labour Federation said that the organisation would support workers at these enterprises by co-coordinating with job centres in the city and providing financial assistance to those in dire need.

Some 37,000 train and bus tickets will be granted to workers to get home for the Tet holidays and a certain amount of money, VND500,000 ($22) will be granted to workers who have recently lost their jobs.

An event called Tet sum vay (Warm Tet festival) will also be held in HCM City for those who can’t get back to their hometown for the holidays. 

Source: VNS

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