Before diving in straight to the topic, let us first discuss what the 13th month pay is. The 13th month pay is a benefit in a monetary form that is given to an employee before the 24th of December of every year. Its computation solely depends on the number of months the employee has ...
Days are typically not prorated in the computation of 13th month pay, so only complete months are counted. Employee B’s 13th Month Pay: PHP 175,000 / 12 = PHP 14,583.33 Important Additional Details Prorating and Partial Employment: Employees who did not work the entire year are entitled ...
The basis for 13thmonth pay computation is the amount of the worker gross pay which includes all allowances and overtime if necessary multiplied the month he worked divided by 12 months/year. For Example Worker A works for just only 5 months in a year earning 7,000 per month,...
If an organization provides a 14th month pay, double that base pay, and so on. For employees who haven’t rendered services for an entire year or have left the company before the release of the bonus, prorated computation is applied. For example, a worker earning $24,000 per annum will...
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employers during the month of January in order to receive the installment by the time of the employee's vacation, whether it occurs from February to November. If the employee's vacation is in January, employers aren't obliged to pay the first installment in this month, even if it's ...