1. INTERNSHIP REPORT L/O/G/O
Manager: Mr. Nguyen Hoang
Nam
Instructor: Ms. Phan Thi Thuy
Trang
Mr. Vo Thanh Phuc
From March 18th to March 22nd, 2013
Reporter: Nguyen Phuong Uyen
3. TOTAL REWARDS
Total Rewards is one of 5 main functions of Human
Resource Management .
Total Rewards is available tools that Human Resource
Management uses to attract, motivate and retain employees.
Total Rewards includes 3 fields: Benefits, Compensation,
Performance and Talent Development.
This report focuses on Benefits and Compensation.
4. TOTAL REWARDS
01. Benefits
• Health/ Medical Insurance
• Unemployment insurance
• Disability insurance
Total • Work- life support,….
Rewards 02. Compensation
• Salaries • Bonuses
• Wages • Incentives,..
03. Performance &Talent management
• Performance appraisal
• HR development
• Training,…
5. BENEFITS & COMPENSATION
Comparison
Benefits Compensation
o Indirect compensation o Direct compensation
o Types: Health/ social o Types: wages, salaries,
insurances, vacation pay,... stock,…
o Responsibility: supplement o Responsibility:
the cash compensation that administer/ develop pay
employee receives. system.
Benefits & Compensation is a basis for calculating pay system.
6. SOCIAL INSURANCE
Definitions
The guarantee to partially offset a
employees’ income that is lost or reduced
due to his/her contributions to the social
insurance fund.
Social Insurance Benefits: sickness,
maternity, work-injured, occupational Social
disease, unemployment, retirement or Insurance
death.
2 types: Compulsory and Voluntary
7. SOCIAL INSURANCE
Subject of application Time of application The level of insurance fee
• Employees working After 30 days • 7% of monthly
under indefinite from the date salary/
contracts or contracts remuneration for
signed labor
of a term of three employee.
months and/or over; contract, the
• Public servants; employee has • 17% of monthly
• Other subjects to apply social salary for
provided in Article 2 of insurance. employer.
Social Insurance Law
8. SOCIAL INSURANCE
HR Responsibility:
- Make a list of insured employees to record the increase and
decrease of health/ social insurance fee monthly.
- Report to insurance office in Binh Phuoc province about
health/ social insurance activities in the company.
- Pay insurance allowance for employees who enjoy the benefit
upon Social Insurance Law.
- Base on Social Insurance policy, HR executive adjusts pay
system and guarantee the benefits for employees.
9. WAGE ALLOWANCES
ALLOWANCE
Labor Law VRGDW Policy
+ Leadership allowance
for officials and public + Job allowance
servants . + Other allowance
+ Allowance for excessive + Attendance bonus
working years . + Transportation allowance
+ Allowance for job + Housing allowance
responsibilities. + 13 month bonus
+ Allowance for toxic ,
dangerous .
+ Payment mode , night
overtime , ...
10. WAGE ALLOWANCES
OVERTIME ALLOWANCE
- Shall be paid according to the wage unit price or wage
of current work as follows:
+ On normal days, at a rate of at least 150%.
+ On weekly days off, at a rate of at least 200%.
+ On holidays and paid leave days, at a rate of at least
300%.
Salaries Overtime = Wages hours actually paid x (%) x number of
additional hours
11. DEDUCTIONS
Deduction must not exceed thirty 30% of the monthly wage
( not including types of insurance).
-The deduction of salaries of employees applies only to items such as :
+ Social insurance premiums. (7%)
+ Medical insurance premiums. (1.5%)
+ Unemployment insurance. (1%)
+ Pay income tax for high - income people.
+ Advance payments to employees .
+ Compensation for causing damage for material or property of the
business.
12. WAGE CALCULATION
Monthly Salary Formula
Vietnam Labor Law
- Depending on the Grade, the employee has different
Pay Level.
Salary implemented = minimum wage x wage coefficient
Monthly Salary Formula
Monthly salary = total of salary bear PIT + total of income
not bear PIT – deduction
