The Ministry of Finance promulgates Circular 105/2021/TT-BTC guiding the setting up and management of salary, remuneration, and bonus for the Head of the Supervisory Board, Supervisors at one-member limited liability companies. Accordingly, on the setting up of the salary and remuneration fund of the Head of the Supervisory Board, the Supervisory Circular, the Circular stipulates that, in the first quarter of each year, the one-member limited liability company determines the salary and remuneration fund of the Head of the Board of Directors. Controllers and Controllers according to the provisions of Articles 4, 5, and 6 of Decree No. 52/2016/ND-CP.
Accordingly, regarding the setting up of the salary and remuneration fund of the Head of the Supervisory Board and the Supervisors, the Circular stipulates that, in the first quarter of each year, the one-member limited liability company shall determine the salary and remuneration fund planned for the Head of the Supervisory Board. Supervisory Board and Supervisors according to the provisions of Articles 4, 5, and 6 of Decree No. 52/2016/ND-CP.
Before the 15th of every month, the one-member limited liability company transfers 80% of the salary and remuneration for the year, divided by 12 months (after deducting the amount payable for social insurance, health insurance, and other amounts as prescribed by law) the salary and remuneration fund of the Head of the Supervisory Board and the Supervisory Board shall be determined by the representative agency of the owner management ownership.
Before the 20th of every month, the agency representing the owner shall pay salaries and remunerations to the Head of the Supervisory Board and the Supervisors to the personal account of the Head of the Supervisory Board or the Supervisors (80% of the salary and remuneration according to the yearly plan divided by 12 months for the Vietnam Posts and Telecommunications Group and the Vietnam Air Traffic Management Corporation, 85% of the salary, remuneration according to the yearly plan divided by 12 months).
Within 15 days after the settlement of the salary fund as prescribed at the end of the fiscal year, the one-member limited liability company shall transfer the salary, the remaining remuneration of the Head of the Supervisory Board and the Supervisors according to the amount already settled on the salary fund, the remuneration of the Head of the Control Board and the Supervisor at the agency representing the owner.
Within 15 days after settling the salary fund according to regulations at the end of the fiscal year, the one-member limited liability company transfers the remaining salary and remuneration of the Head of the Supervisory Board and the Supervisor according to the settled amount to the salary fund, remuneration of the Head of Supervisory Board and Supervisors at the agency representing the owner.
Based on the assessment of the completion of assigned tasks by the Head of the Control Board and the Supervisors, The owner's representative agency shall pay the remaining part of the salary and remuneration to the Head of the Supervisory Board and the Supervisors as prescribed.
Disclosure of information about salary and bonus
The Circular clearly states that the bonuses of the Head of the Supervisory Board and the Supervisors include annual bonuses and bonuses at the end of their term.
When deciding to pay annual bonuses to the company's managers, officers, and employees, the company transfers 90% of the annual bonus of the Head of Supervisory Board and Controllers to the salary, remuneration, and bonus fund of the Head of Supervisory Board and Supervisors at the owner's representative agency.
Up to 15 days from the date on which the Company Limited transfers the annual bonus of the Head of Supervisory Board and Supervisors, the owner's representative agency shall pay annual bonuses to the Head of the Supervisory Board and Supervisors based on evaluating the level of completion of assigned tasks, the maximum amount of spending is 90% of the annual bonus.
The remainder of the annual bonus fund is set up as a term bonus fund. Based on the level of completion of tasks for the whole term, the agency representing the owner shall pay the remaining balance to the Head of the Supervisory Board and the Supervisors as prescribed.
For disclosing information on salary, remuneration, and the bonus of the Head of the Supervisory Board and the Supervisors: Before May 31 every year, the agency representing the owner shall publicize information about the salary fund, remuneration, bonus fund, and salary level; the average monthly and yearly remuneration and bonus (the preceding year) of the Head of the Supervisory Board; Controllers on the website of the agency representing the owner and send it to the Ministry of Labor, War Invalids and Social Affairs for review.
This Circular takes effect from January 15, 2022.
Collected from source
Lan Phuong
