3 amounts of money you can receive on New Year's Day 2025
During the 2025 New Year holiday, workers will have the opportunity to receive the following 3 payments.
1. New Year Bonus
According to the 2019 Labor Code, Tet bonuses are money or material amounts decided by the enterprise based on business results and employee performance. This bonus is not mandatory and depends on the financial situation of the company. If the enterprise does well, the bonus can be high, otherwise, the bonus can be low or non-existent.
The law allows businesses to reward in cash or material, but must publicize the reward regulations so that all employees know.
2. Holiday pay
Article 112 of the 2019 Labor Code stipulates the New Year holiday for employees as follows:
1. Employees are entitled to take time off with full pay on the following holidays:
a) New Year's Day: 01 day (January 1st);
Thus, even though the employee takes a day off, he/she will still receive the full salary for that working day. January 1, 2025 falls on Wednesday, the employee will have this day off and will still be paid for the New Year holiday.
3. Overtime pay on Tet holiday
If the company requires employees to work on Tet holiday, they have the right to refuse. If they agree, they will be paid overtime according to the provisions of Article 98 of the 2019 Labor Code as follows:
1. Employees who work overtime are paid according to the unit price of the salary or actual salary paid according to the work being done as follows:
c) On holidays, New Year's Day, and paid leave days, at least 300%, not including holiday and paid leave wages for employees receiving daily wages.
2. Employees working at night shall be paid an additional amount of at least 30% of the salary calculated according to the unit price of salary or actual salary paid for the work of a normal working day.
3. Employees who work overtime at night, in addition to being paid according to the provisions in Clause 1 and Clause 2 of this Article, shall also be paid an additional 20% of their salary calculated according to the salary unit price or salary according to the work done during the day of a normal working day or a weekly day off or a public holiday.
Daytime work: 300% of regular salary.
Night work: 390% of regular salary.
Combined with holiday pay, total earnings can be up to 400% or 490% of regular salary.
These bonuses not only help employees earn extra income but also show the company's concern for employees during important holidays.
