compen 4 Flashcards
is the payment of daily wage for an unworked regular holiday. Employees must receive 100% of their daily wage even they do not report for work provided that they are not on leave or absent with pay on the preceding holiday. If they work on a regular holiday, they are entitled to 200% of their daily rate.
HOLIDAY PAY
According to Executive Order No. 292 as amended by Republic Act No. 9849, the following are the 12 regular holidays in the Philippines
- New Year’s Day - January 1
- Maundy Thursday - Movable date
- Good Friday - Movable date
- Araw ng Kagitingan - April 9
- Labor Day - May 1
- Independence Day - June 12
- National Heroes Day - Last Monday of August
- Eidul Fitr - Movable date
- Eidul Adha - Movable date
- Bonifacio Day - November 30
- Christmas Day - December 25
- Rizal Day - December 30
is the additional reward for work performed either during rest days or special days. All
employees are entitled to premium pay
except field personnel who have no regular
work hours or on a commission basis, those
who are paid by piece rate, government
employees, and those officers or members of
management.
PREMIUM PAY
Work performed on special (non-working)
days merits additional compensation of at
least 30% of the basic wage or a total of
130%. Where the employee works on a
special (non-working) day falling on his
rest day, he/she shall be entitled to an
additional compensation of 50% of his/her
basic wage or a total of 150%
PREMIUM PAY RATES
is the additional pay given to employees who
render work beyond eight hours.
OVERTIME PAY
Key Points About Overtime Pay:
- Extra Compensation
- Standard Work Hours
- Legal Requirements
- Eligibility
- Approval Needed
is an additional pay of 10% of the regular hourly rate. As to what constitutes the night shift depends on whether the employee is in the private sector or in the public sector.
NIGHT SHIFT DIFFERENTIALS
is a benefit provided under the Philippine
Labor Code. It entitles every employee
who has rendered at least one year of
service to a yearly service incentive leave
of five (5) days with pay. It can be used for
personal purposes such as rest, vacation,
or sick leave. Also, if unused, it can be
converted to cash at the end of the year
SERVICE INCENTIVE LEAVE (SIL)
Are fees collected by service-oriented establishments and shared among employees.
SERVICE CHARGES
