HCM City: Average Tet bonus rises 10.9 percent
The average Tet (New Year) bonus of the upcoming lunar Year of the Dog will be about 10.9 percent higher than last year in Ho Chi Minh City, said Director of the city’s Department of Labour, Invalids and Social Affairs Le Minh Tan on December 29.
Illustrative image (Source: VNA)HCM City (VNA) – The average Tet (New Year) bonus of the upcoming lunar Year of the Dog will be about 10.9 percent higher than last year in Ho Chi Minh City, said Director of the city’s Department of Labour, Invalids and Social Affairs Le Minh Tan on December 29.
As of December 29, about 1,960 companies in the city have reported plans to pay bonus to employees before the week-long Tet holiday which will start in mid-February 2018.
Bonus paid by foreign-invested enterprises averaged about 2.7 million VND (118.8 USD) per person. The highest level reported so far is 1.5 billion VND (66,000 USD), paid by a foreign bank in the city, according to Tan.
This year, domestic firms gave out an average bonus of 8.3 million VND (365.2 USD) per person with the biggest to date worth 855 million VND (37,620 USD).
Apart from the bonus, local enterprises plan other forms of pre-Tet support for their workers like gifts and train/bus tickets home, he added.
Tran Cong Khanh from the Ho Chi Minh City Export Processing and Industrial Zones Authority (Hepza) said 302 enterprises have reported on their Tet bonus plans, with the lowest being one-month salary.
In southern Dong Nai province, the average Tet bonus for workers in FDI firms was estimated at 7.7 million VND (338.8 USD) per person with the highest rate reaching more than 400 million VND (17,600 USD), according to the province’s Department of Labour, Invalids and Social Affairs.
State-owned enterprises are giving the average bonus of over 10 million VND (440 USD) per person while that of joint stock companies with State-owned stake is over 8 million VND (352 USD) per person. -VNA
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