3 types of cash payments you can receive for New Year's Day 2025.
During the 2025 New Year's holiday, employees will have the opportunity to receive the following three payments.
1. New Year's Day Bonus
According to the 2019 Labor Code, Tet bonuses are monetary or material rewards determined by businesses based on their business performance and employee work efficiency. These bonuses are not mandatory and depend on the company's financial situation. If the business performs well, the bonus may be high; conversely, it may be low or non-existent.
The law allows businesses to reward employees with money or material goods, but they must publicly disclose the reward policy so that all employees are aware of it.
2. Holiday pay for Tet (Lunar New Year)
Article 112 of the 2019 Labor Code stipulates the New Year's Day holiday for employees as follows:
1. Employees are entitled to time off with full pay on the following holidays:
a) New Year's Day: 1 day (January 1st);
Therefore, even though they are off work, employees will still receive their full salary for that day. Since January 1st, 2025 falls on a Wednesday, employees will have that day off and will still be paid for the New Year's Day holiday.
3. Overtime pay during Tet holiday.
If a company requires employees to work on Tet (Lunar New Year), they have the right to refuse. If they agree, they will be paid overtime wages as stipulated in Article 98 of the 2019 Labor Code as follows:
1. Workers who work overtime are paid based on the hourly wage rate or the actual wage paid for the work being performed as follows:
c) On public holidays, Tet holidays, and paid leave days, the compensation must be at least 300% of the regular wage, not including the holiday pay for employees paid on a daily basis.
2. Workers who work at night shall be paid at least 30% more than their regular daily wage or the actual wage paid for the work performed during a normal workday.
3. In addition to the wages stipulated in Clauses 1 and 2 of this Article, employees working overtime at night shall also be paid an extra 20% of their wages calculated based on the hourly wage rate or the wage for the work performed during the day on a normal working day, a weekly rest day, or a public holiday.
Daytime work: 300% of regular daily wage.
Night shift pay: 390% of regular daily wage.
Combined with holiday pay, total income can reach 400% or 490% of regular salary.
These payments not only help employees earn extra income but also demonstrate the company's care for its staff during this important holiday season.
