13th-Month Pay in the Philippines: How to Compute the 13th-Month Pay? | guideph.com
The 13th-month pay is an extra repayment provided to employees at the end of the year. Nevertheless, the value of the 13th-month pay relies on different variables and also it generally mimics the value of a staff member's month-to-month wage. However the question that boggles on the mind of every employee is how a specific business computed their 13th-month pay. In this post, I will certainly try to respond to the concern of just how to calculate the 13th-month pay right here in the Philippines. 13TH-MONTH PAY: DEFINITION Thirteenth-month pay means a benefit provided to a worker amounting to one-twelfth (1/12) of the worker's standard wage within a calendar year. It is recommended by the Philippine labor regulations as an obligatory benefit as well as must not be perplexed with the "Christmas bonus" frequently worked out in the local business setup. The Xmas bonus offer is not an obligation, as well as can only be released upon an employer's volunteer judgment. ...