Sunday , March 29 2020
Home / Society / Highest Tet bonus in HCMC is $21,400

Highest Tet bonus in HCMC is $21,400

The highest bonus in Ho Chi Minh City for the coming Tet (Lunar New Year) has been so far reported to be $21,400 at a private business, the city labor department said.

The highest bonus in Ho Chi Minh City for the coming Tet (Lunar New Year) has been so far reported to be $21,400 at a private business, the city labor department said.
The highest bonus in Ho Chi Minh City for the coming Tet (Lunar New Year) has been so far reported to be $21,400 at a private business, the city labor department said.

The municipal Department of Labor, War Invalids and Social Affairs on Thursday released information on bonus payment by about 900 businesses that employ over 310,000 employees in the city.

Accordingly, the highest bonus that for the solar New Year is VND583 million ($27,300), which was recorded at a foreign-invested enterprise that is located outside industrial parks or export processing zones.

Meanwhile, the bonus for the coming Lunar New Year, which will fall on February 19, is lower, at VND457 million ($21,400), which has been offered by a private business.

The rate is equal only to 64.4 percent of last year’s highest Tet bonus rate of VND709 million ($39,200), paid by a foreign-invested enterprise, the department said.

Meanwhile, the lowest Tet bonus rate this year is VND2.86 million ($134), which was reported by a private business.

The average bonus rate of State-owned enterprises is VND5.4 million, while the rates for the private businesses and foreign-invested enterprises are VND4.7 million and VND5.5 million respectively.

So far, 139 businesses have reported they have faced difficulties in operations but they will try their best to pay Tet bonuses to their employees at an average rate of one-month salary.

Many of these businesses also said they would offer gifts, goods coupons, travel allowances and other supports for their employees.

Meanwhile, two businesses – Hao Duong Joint Stock Company and Truong Thinh Plastic Company –  have reported they could not pay Tet bonus to their employees due to their special difficulties, according to news website VnExpress.