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Showing posts from November, 2017

Back Pay Computation in the Philippines and Reasons Why it’s Delayed.

Klook.com After taking calculated risks, you have finally decided to leave your current employer due to health reasons, lack of career growth, or a greener pasture, etc. Just like you, I always look forward in receiving my back pay because it can be used as savings or as an additional fund that you can utilize while transitioning to your new job. Computation of back pay may vary depending on your company polices however, the following items should be considered. 1.       Last Salary – your last salary may be withheld and will be release as back pay. 2.       Pro Rated 13th month pay. 3.       Tax Refund 4.       Vacation and Sick Leave conversion (if convertible to cash). 5.       Other deductions or liabilities – loans or lost equipment (Headset, locker keys, etc.) Illustration of Last Pay Slip for Back Pay Aside from your last pay the employer should also release your Certificate of Employment, BIR Form 2316 and a release waiver and quitclaim tha

13th Month Pay Bonus Calculator

There are a lot of articles that have been published on how to compute the 13th month pay and I have read most of it however, I think it’s missing the actual calculator that can compute our estimated 13th month pay. The 13th month pay calculator that we have created would be beneficial especially for those employees who have been employed by the company for less than a year because, the amount of the 13th month pay will be pro-rated (will depend on the number of days or months of service). Based on DOLE’s Department Advisory  the number of days for leave without pay should be taken into consideration. Computation 1: If you have been employed by your company for more than a year use the computation below; Computation 2: Pro- Rated computation. If you have been employed by your company for less than a year use the computation below; Our Calculator has used the formula above to compute your estimated 13th month pay.  How to use the calculator: If you hav