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Tag - Retirement benefit

12 Feb

Retirement Benefit of Employees Under the Labor Code vs. Retirement Plan under R.A. 4917

Retirement benefit under the Labor Code is provided under Article 302. This is the retirement benefit provision if there is no existing retirement plan of the company. This should not be confused with Reasonable Retirement Benefit Plan provision under R.A. 4917 which was enacted for purposes of exemption from all taxes and not to establish compulsory coverage of employees. Hence, not all companies have tax-exempt retirement plan under R.A. 4917. If so, what retirement provision shall apply? As mentioned Art. 302 [...]

By Labor Law 20 Comments Read more...
13 Apr

Retirement Benefit Computation

Retirement benefit entitles the employee to receive such benefits as he may have earned under existing laws and any collective bargaining agreement and other agreements. Under Article 302 [formerly Article 287] any employee may be retired upon reaching the retirement age established in the collective bargaining agreement or other applicable employment contract. (Note: Labor Code was renumbered pursuant to RA 10151 and DOLE D.O. 01, Series of 2015) Get a copy of the Labor Code of the Philippines 2018 Edition by Atty. [...]

By Labor Law , 17 Comments Read more...
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