Library

Circular 33/2012/TT-BLDTBXH on the retrenchment benefits when state owned enterprises (SOE) equitization

Circular 33/2012/TT-BLDTBXH on the severance package when state owned enterprises (SOE) carry out equitization

Employees upon termination of the contract by the equitized SOE will be provided severance allowance, specified in Circular 33/2012/TT-BLDTBXH.

Accordingly, to enjoy the severance allowance, employees must meet the conditions of the labor contract, competent to contract.

The duration calculated for allowance is the working time less the paid unemployment insurance time, and is calculated by year. From 1 to under 6 months, the duration will be rounded to half a year; from full 6 months to 12 months, the duration will be rounded to a year.

Compared to the previous regulations, Circular 33 provides more detailed guidance: Article 42 of the Labour Law, Decree 44/2003/ND-CP, Circular 21/2003/TT-BLDTBXH and Circular 17/2009/TT-BLDTBXH.

After May 1st 2013, this regime will be implemented by provisions of the Labor Law 2012.

Circular 33/2012/TT-BLDTBXH takes effect from May 2nd 2013.

ANT Lawyers

ANT Lawyers

Recent Posts

The Employment in Vietnam Guide: 12 Key Legal Answers for Foreign Companies Entering the Market

Foreign companies entering Vietnam's thriving market face unique legal questions, especially around employing local talents.…

6 days ago

13 Critical Steps To Respond to Thailand’s Tough Anti-Dumping Investigation on Cold Rolled Stainless Steel

On October 3, 2024, Thailand’s Department of Foreign Trade (DFT) had officially launched an anti-dumping…

3 weeks ago

Anti-Dumping Investigation on Wood Fiber Boards from Thailand and China (AD21)

On September 25, 2024, the Ministry of Industry and Trade officially initiated an anti-dumping investigation…

1 month ago

Kick-Off Event of the 2024 International Mediation Writing Competition in Vietnam

The Weinstein International Foundation (WIF) has officially launched the 2024 International Mediation Writing Competition (IMWC2024).…

1 month ago

The 2024 Law on the Organization of Courts in Vietnam: Judicial Reform Towards Transparency

In recent years, Vietnam has continuously enhanced its legal framework to meet the demands of…

1 month ago

Real Estate Tax Policy in Vietnam: 10 Insights for Understanding the Challenges and Opportunities

Vietnam’s dynamic economic growth and hot real estate market have drawn the attention of investors…

2 months ago