MANPOWER RESOURCES (LABOR):
· Expense Account
· Vehicle of Any Kind
· Household personnel, such as maid, driver and others
· Interest on loans at less than market rate to the extent of the difference between
· Membership fees, dues and other expenses borne by the employer for the
· Holiday and vacation expenses
· Educational assistance to the employee or his dependents; and
· Life or health insurance and other non-life insurance premiums or similar amounts
Managerial employees refer to those who are given powers or prerogatives to lay down and execute managerial policies and or to hire, transfer, suspend, lay-off, recall, discharge, assign or discipline employees.
Overtime (OT) Remuneration. Overtime premium is alloted for work exceeding the maximum prescribed period. Every employee who is entitled to premium pay is likewise entitled to the benefit of overtime pay.
Contribution to National Health Insurance Program (NHIP). As mandated by Republic Act 7835 on Medicare Program which is administered by the Philippine Health Insurance Corporation (Philhealth), both employers and employees are to contribute for the medical insurance/benefits of the employees in accordance with the schedule provided by Philhealth.
CURRENT DAILY MINIMUM WAGE RATES
SUMMARY OF CURRENT REGIONAL DAILY MINIMUM WAGE RATES
a/ Granted a P12 per day wage increase after integration of the P50 COLA to the basic pay;
For more questions on Doing Business in the Philippines, check out http://www.dti.gov.ph/.