Many FDI enterprises give Tet bonuses of 100% of basic monthly salary

While the economy still faces many difficulties and challenges, FDI enterprises still strive to ensure that employees and laborers have a full and warm Lunar New Year.

Employes in Yi Da Vietnam Company, Cam Khe Industrial Park

According to the report of the Provincial Labor Confederation, among FDI enterprises, some entities give Tet bonuses of 100% of the basic monthly salary for employees with the working periods of over 12 months; For others, Tet bonuses are paid based on the employees’ actual working period with amounts of 20-70% of the basic monthly salary. For newly recruited employees with less than a month’s working time, the enterprises give the least Tet bonuses (100,000 VND).

Present at Yi Da Vietnam Company, Cam Khe Industrial Park in the days close to Tet, thousands of employees are busy in production to meet the delivery schedule of orders at the beginning of the new year. Yi Da Vietnam Company was established in 2017 with 100% foreign capital and started production in 2018. To date, the Company has more than 4,300 employees with an average income of about 9,468,000 VND/person/month, an increase of 12% compared to the average income of employees in 2022. For textile and garment enterprises, 2023 can be considered a turbulent year because export contracts decreased sharply, but thanks to efforts to improve designs, maintain the brand reputation and credibility with customers, they have steadily overcome difficulties; and obtained many partners with large orders in the US, Americas, Europe and Southeast Asia markets.

Mr. Vincent Chu - CEO of the Company said: To make employees peace of mind to celebrate the Lunar New Year, the Company decided to grant them a 13th month basic salary. At the same time, the Company also gave lucky money of 100,000 VND/person to employees who have worked for over 5 years at Yi Da Vietnam and awarded each a gold ring to 22 employees and team leaders with outstanding achievements during the year. All officers and employees in the company will start Tet holiday from December 29 of the Cat year to January 7 of the Dragon year 2024. And right on the first day of the new year, January 8 of the lunar calendar, the Company will organize a lucky draw with 1,348 prizes with a total value of nearly 1 billion VND for employees.

Employes in YB Vietnam Co., Ltd., Bai Ba Industrial Park, Thanh Ba District

Determining that giving Tet bonuses are a cultural beauty, and also a form of showing their gratitude to and retend employes, most entities are making efforts to ensure that this year’s Tet bonuses are not lower than previous years. Mr. Jo Yongsoon - Director of YB Vietnam Co., Ltd., Bai Ba Industrial Park, Thanh Ba District, said: Despite going through a difficult year, the company still gives employees a Tet bonus of one month’s basic salary (more than 4 million VND). These days, workshops and factories are still rushing to complete orders to be delivered before the Lunar New Year. Hopefully in 2024, the steel market will gradually improve and employees' income will be increased.

According to the report of the Provincial Labor Confederation, FDI enterprises spend Tet money for employees divided into different levels, on average equal to 80% of the basic monthly salary, an average of 4.15 million VND per person (the highest amount is 50 million VND given by an electronics company).

In the context of production and business activities facing many difficulties, fierce competition and declining orders, Tet bonuses become a difficult problem for many businesses. However, that many businesses still try to ensure the beneficiary regimes and policies is the sharing and harmony of benefits between businesses and employees, thereby, creating peace of mind and excitement for employees during the New Year and Spring.

Thanh Tra