The Senate is pushing a proposal for private employees to be granted a 14th month pay to augment mid-year expenses such as school enrollment and medical needs. The recent P10 increase in the minimum wage is inadequate if it is meant to help a regular employee respond to the rising prices of basic commodities.
Here are three important details of the 14th month pay bill and what private employees can all look forward to once it gets approved:
- Private employees, regardless of employment status and designation, for as long as he has rendered work for at least one month during the calendar year, are entitled to the 14th month pay.
- The 13th month pay shall be paid no later than the 14th day of June.
- The 14th month pay must be equivalent to at least half of the basic salary and disbursed to the employees no later than the 24th day of December every year.
Does this news make you happy? Let us know what you think of this proposal from the government.