Vietnam Labour Law Update (May 2017)
THE BASIC WAGE SHALL BE INCREASED FROM 1 JULY 2017
On 24 April 2017, the Government issued Decree No. 47/2017/ND-CP (“Decree 47”) regulating the basic wage for officials, public servants and armed forces.
Accordingly, the basic wage shall be increased from VND1,210,000/month to VND1,300,000/month with effective from 01 July 2017 (an increment of 7,4%).
As such, the maximum wage (the capped salary) subject to compulsory social insurance and health insurance contributions from 01 July 2017 shall be VND 26,000,000/month (equivalent to 20 times of the basic wage).
For more details on Decree 47, please refer to the link below: