LOOK: Thirteen Fast Facts About The 13th Month Pay

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Call it Christmas bonuses or a salary blessing, but the 13th month pay is a right granted by the Labor Code of the Philippines. This benefit is entitled to rank-and-file employees regardless of status as long as he/she has worked  at least one month in the company. How is the 13th month pay computed? The 13th month pay computation is based on the total basic monthly salary of an employee for the whole year, divided by 12 months. Thus: “13 month pay = total basic salary earned during the year / 12” Therefore when an employee’s basic salary is Php 15,000 and had worked for 8 months, the 13th month computation is calculated as such: (Php 15,000 x 8 months)/12 = Php 10,000 Image source According to our law, the 13th month pay should be released not later than the 24th of December. So while waiting for our 13th month salary, check out these 13 fast facts below: 1) The 13th month pay is one of the mandatory benefits of an employee here in the Philippines. This means it’s your … [Read more...]