How to calculate salary by salary coefficient quickly? Salary coefficient is a popular term in the field of finance - accounting and receives attention from all types of employees. However, many people still do not fully understand the importance of salary ratio in an organization. In this article, Viindoo will provide knowledge about the salary coefficient and how to calculate the basic salary coefficient, readers.
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1. What is the salary coefficient?
Coefficients salary is a number used to calculate the salary of employees in an organization, usually government employees. This coefficient is calculated based on many factors such as job title, experience, training level, and labor market. The higher the salary coefficient, the higher the employee's salary will be. The salary coefficient is usually regulated and adjusted from time to time in accordance with the economic conditions and development of the country.
Salary coefficients between state officials, people's police, people's armed forces, or officials working in administrative units will vary depending on the level and qualifications of each person. Important positions in organizations are often evaluated with a higher salary coefficient than other positions.
The salary coefficient is the index for calculating the salary of state officials and employees>>>> Learn More: Payroll software
2. How to calculate salary by salary coefficient
What is the salary coefficient? How to calculate the salary coefficient? is it easy or not? According to Decree 49/2013/ND-CP dated May 14, 2013, of the Government, stipulating that from July 1, 2013, all enterprises (including state and non-state) will uniformly apply regulations on the salary scale and payroll. On November 11, 2022, the National Assembly passed a Resolution on the state budget estimate for 2023.
Accordingly, cadres, civil servants, and public employees will be able to increase their salary to VND 1,800,000/month, equivalent to an increase of 20.8% from July 1, 2023. According to Decree 204/2004/ND-CP, the salary of civil servants and public employees is calculated by the following formula:
Current salary = Base salary x Current salary coefficient
In there:
- The salary coefficient of a civil servant is determined based on the salary coefficient tables specified in the appendix of Decree 204/2004/ND-CP, depending on the classification of public employees.
- The salary coefficient will increase gradually according to the salary levels from level 1 to level 12 according to current regulations.
How to calculate salary by salary coefficient quicklyIn addition to the main salary, employees can enjoy additional allowances corresponding to their professions and positions. These allowances are calculated based on factors such as work, seniority, and added to the employee's monthly income, helping to increase income significantly.
>>>> Reference: Types of Salary Structure
3. Latest basic salary coefficient table
Here are the table coefficients salary details of groups of civil servants, public officials and university lecturers in Vietnam.
3.1 Table of salary coefficients for civil servants
According to the Law on Cadres and Civil Servants (amended in 2019), the salary coefficient of civil servants is classified into 6 main categories in order from high to low. The salary coefficients of other ranks will increase gradually from the low group to the high group corresponding to the level of expertise and experience of the civil servant.
The lowest group is Class C civil servants, with a salary coefficient of grade 1 of 1.65, equivalent to VND 2,970,000 according to the latest regulations from July 1, 2023. The highest group is Civil servants grade A3.1, level 6, with the highest salary coefficient of 8.00, equivalent to VND 14,400,000 according to the latest regulations from July 1, 2023.
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3.2 Table of employee salary coefficients
According to the provisions of the Cadre Law, public employees are employees who are recruited according to job positions in public non-business units. The salary of public employees will be deducted from the general salary fund of the unit and distributed according to 6 main categories including:
- Officer A3
- Officer A2
- Officer A1
- Officer A0
- Officials B
- Officials C
The salary coefficient of public employees is also divided into different salary grades. Officials A3.1 level 6 is the group with the highest salary coefficient with a value of 8.00 (corresponding to 14,400,000 according to the latest regulations on July 1, 2023). Meanwhile, employee C1 has the lowest salary coefficient with a value of 1.65 (corresponding to 2,970,000 according to the latest regulations on July 1, 2023).
Here is the table of Employee salary coefficient:
3.3 Basic salary coefficient for university lecturers
According to the provisions of the Law on Higher Education (amended and supplemented in 2018), university lecturers are classified into several ranks such as professor, associate professor, principal lecturer, lecturer, and assistant lecturer. Instructor classes will have coefficients in salary varies, depending on the qualifications, experience, and contributions of each individual in teaching, scientific research, and other activities.
At public universities, university lecturers are classified into 3 classes, including:
- Senior Lecturer Class I
- Class II main lecturer
- Class III lecturers together with class III teaching assistants.
What is the salary coefficient? A salary multiplier is an index calculated based on many factors to determine the salary of an employee in a company or organization. Understanding the pay multiplier helps employees calculate their pay according to fair standards. Hope this article by Viindoo will be useful to you.
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