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. [...]