The Group has established the “Salary Management Measures” and conducts an annual salary and benefits survey to maintain a competitive salary level. We offer equal pay for equal work for both men and women, with starting salaries higher than the minimum basic salary required by the local government. Salary and benefits are not differentiated based on gender, age, nationality, disability, race, or other conditions. The allocation to retirement funds also follows legal requirements. For the employees of Eurocharm Taiwan, the Company provides the mandatory health and labor insurance in accordance with the Labor Standard Law in Taiwan as well as travel and accident insurance for the employees going on business trips. In addition, the Company has set up a system for individual retirement accounts to protect employee benefits. The Company has established the “Performance Assessment Measures”. Every year, we evaluate salary adjustments, variable bonuses, dividends, and other rewards based on individual performance contributions. The Company has also developed a comprehensive job ranking and grading system that does not differentiate between male and female employees. Two performance assessments are conducted each year, and the rewards for managers and above are directly linked to organizational performance. For Vietnamese employees, in addition to legally mandated social, medical, and unemployment insurance, there are annual opportunities for promotions and salary adjustments to reward outstanding performance. Based on the Company’s operational performance and individual employee performance, monthly performance bonuses and annual bonuses are distributed. This recognition of employee value enhances their sense of accomplishment, promotes diverse employment, and contributes to social stability.
Taiwan Employee Benefits and Security
| Bonuses | Birthday gift vouchers, three seasonal gift vouchers (Dragon Boat Festival/Labor Day/Mid-Autumn Festival), year-end bonuses, dividends (some level and above). |
| Benefits | Labor health insurance, group insurance (accidental injury/medical accident insurance), meals, missed meals, wedding allowances, funeral allowances, maternity allowances, employee education scholarships, and free parking space. |
| System | Staff uniforms and safety shoes. |
| Leave Policy | Two-days off every week, special annual leave, paternity leave, family care leave, female colleagues’ menstrual leave/maternity leave, and parental leave. |
| Retirement Policy | To protect the rights of employees, Eurocharm Taiwan has established a Labor Retirement Plan in accordance with the law. The company regularly contributes a monthly retirement reserve at a rate of 2% of the total payroll, which is deposited in a special account at the Central Trust of China. In 2023, the balance of the labor retirement reserve account under the old system is $29,346 thousand. Starting on July 1, 2015, the new government retirement system has been adopted, under which 6% of employees’ gross wages is contributed to their personal pension accounts. Additionally, for employees who opt for voluntary pension withholding, the voluntary withholding rate is deducted from their monthly wages and deposited into their individual pension accounts with the Labor Insurance Account. In 2023, the total withholding amount from employees and the employer of Eurocharm TW was NT$2,086 thousand. |
| Staff Welfare Committee | Domestic trips and year-end events. |
| Lifelong Learning | Education and training subsidies are available. |
Employee Benefits in Vietnam
| Bonuses | Monthly performance bonuses and year-end bonuses are paid depending on the Company’s operational performance and employee performance; employees are encouraged to submint company-wide improvement proposals, and bonuses are paid if proposals are effective in improving efficiency or reducing costs. |
| Benefits | The Company provides social/medical/unemployment insurance. In addition, the Company cooperates with the labor union to hold various activities on important festivals. At the end of each year, there is a subsidy for annual departmental dinners. At the Vietnam factory, there are an employee cafeteria, a fitness room, a soccer field, a recreation center, and an employee parking lot. In addition to free meals, employees can use all equipment for free. The Company also regularly holds group activities including soccer and badminton tournaments, staff trips, and sports games. |
| Retirement Policy | Retirement insurance in Vietnam is part of the social insurance. Employees contribute 8% of their wages each month, and the Company contributes 14%. These premiums are deducted monthly and paid to the local social insurance bureau on behalf of the employees. When employees reach the statutory retirement age, they can apply for pensions from the social insurance bureau. In 2023, a total of VDN 136,490 thousand in social insurance premiums was paid. |