30
Nov
13TH MONTH PAY, CONCEPTS, PRINCIPLES AND COMPUTATION
13th month pay is one of the mandatory benefits that employers should give their employees. This means one twelfth (1/12) of the basic salary of an employee within a calendar year. The post is based on the book Guide on Employee Compensation and Benefits Volume 2, Second Edition by Atty. Villanueva. The “basic salary” of an employee for the purpose of computing the 13th month pay shall include all remunerations or earning paid by his employer for services rendered but does [...]