ABM 309 Flashcards
(23 cards)
is defined as payment for work or services rendered that is computed on hourly, daily, or weekly basis. there are times when the wage is computed on a per piece or per work basis
wage
is a form of wage that is fixed and computed weekly, every 15 days or monthly, a person who is paid salary for his work is paid based on his annual income
salary
institutional benefits of a wage earner: provides private employees and their families protection against sickness, disability, and death
social security system (SSS)
institutional benefits of a wage earner: the government service insurance system is an equivalent system for government employees
government service insurance system (GSIS)
institutional benefits of a wage earner: is administered by the __ designed to proide employees with a practical means of adequate medical care in the Philipines
Philippine National Health Corporation (PhilHealth)
personal benefits of a wage earner: mandatory to all employees and is computed as 1/12 of the basic salary earned by the employee during the year. this must be given not later than december 24 of the year
13 motnh pay
personal benefits of a wage earner: paid leave benefit granted to female worker in the public and private sector
maternity leave
maternity leave duration: any instance of childbirth, normal or CS
105 days
maternity leave duration: additional 15 days for solo parent under RA 8972 or Solo Parents’ Welfare Act
120 days
maternity leave duration: miscarriage or emergency termination of pregnancy including stillbirth
60 days
maternity leave duration: option to extend for additional _ days without pay in case of live childbirth, provided that the employer shall be given due notice
30
personal benefits of a wage earner: all legally married male employees are eligible for 7 working days up to four child birth or miscarriage of legitimate spouse to be availed within 60 days from delivery/miscarriage
paternity leave
personal benefits of a wage earner: seven working days parental leave for solo parents are certified by the DSWD
solo parent leave
personal benefits of a wage earner: an employee who has worked for at least one year in a company is entitled to five days leave of absence with pay every year. if the employee does not avail of these paid leaves, they may convert them with their cash equivalents
service incentive leave
company-initiated benefits: an amount given to wage earners to help offset the effects of high living expenses, depends on the place of work
cost of living expenses (COLA)
all forms of allowances, bonuses, and additional monetary pays provided by the company are taxable
taxable
these are benefits that are not mandatory. this means that the company may or may not have these benefits, called de minimis benefits
nontaxable
types of deminimis benefits: monetized unused vacation leave credits of employees not exceeding __ days during the year
10
types of deminimis benefits: gifts given during christmas and major anniversary celebrations not exceeding __ per employee per annum
P5000
types of deminimis benefits: daily meal allowance for overtime work and night/graveyard shift not exceeding __ of the basic minimum wage on a per region basis
25%
types of deminimis benefits: actual medicine assistance not exceeding __ per annum
P10,000
types of deminimis benefits: employees achievement awards must be in the form of a tangible personal property other than cash or gift certificate, with an annual monetary value not exceeding __
P10,000
limit of de minimis benefit
P90,000
