The Government has officially issued Decree 74/2024/NĐ-CP, stipulating monthly regional minimum wages and hourly regional minimum wage for employees working under a labor contract.
Key Points of Decree 74/2024/ND-CP:
- Increase in Regional Minimum Wages: From 01 July 2024, the monthly minimum wage and the hourly minimum wage for employees working under a labor contract are as follows:
|
Region
|
Minimum Monthly Salary (Unit: VND/month)
|
Minimum Hourly Salary (Unit: VND/hour)
|
|
Region I
|
4,960,000
|
23,800
|
|
Region II
|
4,410,000
|
21,200
|
|
Region III
|
3,860,000
|
18,600
|
|
Region IV
|
3,450,000
|
16,600
|
- Effective Date:
- This Decree takes effect from 01 July 2024.
- Decree No. 38/2022/NĐ-CP dated 12 June 2022 issued by the Government, stipulating the regional minimum wage for employees working under a labor contract, expires from 01 July 2024.