(Editor's note: This article was written by MoneyMax, the Philippines’ foremost online platform for comparing financial and telecom products and services, for ABS-CBNnews.com. Find out more at MoneyMax.ph)
MANILA, Philippines - Not all employees receive a Christmas Bonus, but everyone must receive a mandated 13th month pay from their employers.
According to Presidential Decree No. 851, all rank and file employees, regardless of status, who have worked for at least one (1) month are entitled to receive 13th month pay.
The 13th month pay is computed from amount of one's basic salary divided into 12 months multiplied by the number of months an employee worked on that year.
For instance, you are receiving a basic salary of P20,000 per month and started July on that year, you will receive P10,000 as your 13th month pay for rendering six months as an employee.
According to a report from Jobstreet.com.ph, there are specific industries who have been generous to their employees, giving regular bonuses on top of the 13th month pay.
Are fortunate enough to be in any of these industries? See below: