benefit of the wage earner.pptxmjhgffgfh

mh

1. Benefits of Wage Earners

2. BENEFIT A payment or gift made by an employer, the state, or an insurance company.

3. The Benefits of the W age Earner Long-term benefits: retirement, death, disability Minimum wage earner tax exemption Bonuses and allowances (e.g. travel, rice, meal, clothing and laundry) 13 th month pay, holiday pay, special pay, overtime pay, night shift differential, and hazard pay

4. 5. Leave incentives: sick, maternity, paternity, solo parent, and others 6. health-related benefits and insurances: ---- retirement – this benefit is like a savings account.the employee pays a monthly retirement fee for the retirement pay which will be received after the employee’s service. ---- minimum wage earner tax exemption (RA 9504) ---- maternity/paternity benefit ---- bonuses/allowances(travel, rice, meal, clothing etc )

5. The computations of some benefits are as follows: 1. RETIREMENT BENEFIT R=22.5 x P x T 2. 13 TH MONTH PAY ½ X 3. MATERNITY BENEFIT 2.6x For caesarean 2x for normal delivery 4. HOLIDAY PAY Refers to payment of the regular daily wage for any non working regular holiday.