WebDec 4, 2024 · The Social Security System (SSS) will begin releasing 13th month pensions and Christmas gifts worth nearly P31 billion to beneficiaries this week. SSS president and CEO Aurora Ignacio said the agency would release the Christmas gifts and 13th month pension to 3.14 million members in time for the holiday celebrations. WebThe basis of the 13th month pay is the pensioner’s monthly pension, excluding the dependent’s pension, if there are any dependents. For this year, SSS has disbursed a …
Mandatory Deductions & Contributions: A Guide for Employers
WebThe 13th month pay should not be less than 1/12 of the basic salary of the worker. To give you an illustration of how the formula looks like: TOTAL BASIC SALARY IN A MONTH, EARNED IN THE YEAR / 12 MONTHS = PROPORTIONATE 13TH MONTH PAY. So, the number of calendar years a specific employee has worked for the company is a major … WebThe basis of the 13th month pay is the pensioner’s monthly pension, excluding the dependent’s pension, if there are any dependents. For this year, SSS has disbursed a total of P9.8 billion for December and 13th month pension to make the pensioners’ year-end holiday more meaningful. pipe exam psychiatry
Who are Entitled to Receive a 13th Month Pay?
WebJul 25, 2024 · 2 SSS/GSIS; 3 Philhealth; 4 Pag-ibig; 5 13th Month Pay; 6 Outsourced payroll in the Philippines; Withholding Taxes. For every payroll period, employers must … WebJul 25, 2024 · Payment for the 13 th month must be paid to all rank and file employees, who have worked more than one month of the relevant calendar year, no later than December 24 of the relevant working year. “Rank and file” refers to an employee that is not considered a managerial employee. WebDec 1, 2024 · State pension fund Government Service Insurance System (GSIS) announced that it will start to release a total of Php3.3 billion in Christmas cash gift to a total of 330,496 old-age and disability pensioners starting December 1. “Every year, our pensioners look forward to receiving the cash gift which they call their Christmas bonus. steph halper