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Feb 5, 2023 · Download our free Excel template for 13th-month pay computation, click Enable Editing, and then follow the instructions to get an accurate computation of how much 13th-month pay you’ll get. Please read further for a more detailed discussion of the 13th-month pay computation in the Philippines.
Jan 24, 2024 · By knowing how to compute your 13th month pay, you ensure that you receive the proper compensation that you deserve as mandated by law. The basic 13th month pay formula is your monthly basic salary multiplied by your length of employment divided by 12: Monthly Basic Salary x Employment Length ÷ 12 Months = 13th Month Pay
Apr 14, 2024 · According to No. 4 (a) of the Revised Guidelines on the Implementation of the 13th Month Law (Presidential Decree 851) dated November 16, 1987, the 13th month pay of an individual is (not less than) one-twelfth (1/12) of the total basic salary earned by an employee within a calendar year.
Oct 3, 2023 · An employee's 13th-month pay should be not less than one-twelfth (1/12) of their total basic salary within a calendar year, according to the DOLE guidelines. If you want to know how to compute your 13th-month pay, just get the sum of the salary you've earned for the entire year and then divide it by 12 months.
Oct 9, 2023 · For the formula, all you need is the basic salary, and then simply divide it by 12. Total basic salary per year / 12 = 13th month pay. For example, if an employee earns Php14,000 per month and doesn’t have unpaid days off, it would be: Php168,000 / 12 = Php14,000.
Apr 14, 2024 · These are the steps on how to compute for the 13th month pay. The following are the assumptions: 1) The employee’s daily wage rate is Php1,000.00; 2) The workweek is 6 days a week; and 3)There is one…
Apr 17, 2024 · The formula for computing the 13th-month pay is: 13th-Month Pay = Annual Total Basic Salary Earned / 12. Example 1: An employee worked the entire year. An employee (Joe) has a basic monthly salary of Php 16,500. If Joe worked for the entire year and had no absences or deductions, he would receive Php 16,500 as his 13th-month pay.
Here are the steps to compute your 13th month pay: Add up all the basic salaries earned by the employee within the calendar year. 13th month pay = Total basic salary earned for the year/12; 13th month pay sample computation. Here’s a sample computation. Let’s say an employee's total basic salary for the year is PHP 300,000:
Sep 29, 2022 · To calculate your 13th month pay, multiply your basic salary by the length of service and then divide it by 12 months. For example, if your basic salary is PHP 10,000 and you have worked for 3 years, your 13th month pay would be: (10,000 x 3) / 12 = 2,500. Try Our 13th Month Pay Calculator. 13th Month Pay Calculator.
The 13th month pay shall be in the amount not less than 1/12 of the total basic salary earned by the employee within the Calendar day. Example: Let say an employee basic salary is Php15,000 per month and had worked for 10 months, the 13th month computation is: (Php15,000 X 10 months) / 12= Php12,500.00.
