NM PACKAGING (VN) COMPANY LIMITED

FORECAST- DIRECT LABOR COST (USD) 9 mths actual

3 mths budget
Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Total 2020 % USD
Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 2021 12 months increase increase
Local Vietnamese
1 Wages 38,300 38,300 38,300 38,300 38,300 38,300 38,300 38,300 38,300 38,300 38,300 38,300 459,600 437,719 5.0% 21,881
2 Overtime 17,000 16,000 18,000 17,700 17,800 17,800 17,000 17,800 17,800 17,800 17,800 17,800 210,300 208,750 0.7% 1,550
3 Bonus 3,192 3,192 3,192 3,192 3,192 3,192 3,192 3,192 3,192 3,192 3,192 3,192 38,300 39,898 -4.0% (1,598)
4 Allowance 3,500 3,500 3,600 3,500 3,500 3,400 3,450 3,500 3,400 3,450 3,600 3,500 41,900 41,179 1.8% 721
5 Meal Allowance 5,000 4,900 5,000 5,100 4,950 4,950 5,000 5,000 3,950 4,950 4,900 5,000 58,700 58,109 1.0% 591
6 Shift Allowance 4,100 3,900 4,400 4,400 3,850 3,850 4,450 4,450 4,450 4,000 4,500 4,000 50,350 50,075 0.5% 275
7 Employee Incentive 5,300 5,050 5,400 5,400 5,300 5,300 5,400 5,400 5,400 5,500 5,500 5,500 64,450 63,932 0.8% 518
8 Social Insurance 6,894 6,894 6,894 6,894 6,894 6,894 6,894 6,894 6,894 6,894 6,894 6,894 82,728 79,845 3.6% 2,883
9 Health insurance 1,149 1,149 1,149 1,149 1,149 1,149 1,149 1,149 1,149 1,149 1,149 1,149 13,788 13,613 1.3% 175
10 Employee accident insurance 226 226 226 226 226 226 226 226 226 226 226 226 2,712 2,637 2.8% 75
11 Unemployment Insurance 383 383 383 383 383 383 383 383 383 383 383 383 4,596 4,563 0.7% 33
12 Trade Union Fee 766 766 766 766 766 766 766 766 766 766 766 766 9,192 9,125 0.7% 67
- -
85,810 84,260 87,310 87,010 86,310 86,210 86,210 87,060 85,910 86,610 87,210 86,710 1,036,616 1,009,445 2.7% 27,171

Payment Schedule :
1 Payment within month 73,200 71,650 74,700 74,400 73,700 73,600 73,600 74,450 73,300 74,000 74,600 74,100 885,300
2 Payment following month 9,418 9,418 9,418 9,418 9,418 9,418 9,418 9,418 9,418 9,418 9,418 9,418 113,016
3 Provision Sum 3,192 3,192 3,192 3,192 3,192 3,192 3,192 3,192 3,192 3,192 3,192 3,192 38,300
4 Prepayment - - - - - - - - - - - - -

85,810 84,260 87,310 87,010 86,310 86,210 86,210 87,060 85,910 86,610 87,210 86,710 1,036,616
- - - - - - - - - - - - -

Assumptions :
1) Local wages and overtime are paid twice ie. 15th day of the month for the 1st half and the last day of the month for the 2nd half.
2) Compulsory contributions: - Social - Health insurance at 21% on basic salary
3) One month annual bonus is provided for who served more than one year.