13th Month Pay

13th Month Pay


CPP-HR_0203_V2_13th Month Pay
Prepared 
M. Martinez
11 Dec 2020
Approved 
F. Lenoir 
1 Feb 2021

1.0     Objective 
 To provide the 13th month pay scheme as per Labor Law.  
 
2.0     Scope 
 This policy shall apply to all team members, except temporary employees and trainees. 
 
3.0     Provisions 
3.1    The amount of bonus corresponds to 1/12 of the team member’s 12-month basic salary, or its pro-rated equivalent for the year. 
 
3.2     Basic salary refers to the gross monthly salary (latest approved team member’s salary), and shall exclude:
a) overtime, night differential and holiday premium payments
b) all meal and other cash allowances; and 
c) encashment of earned and unused benefits such as sick leaves and the like. 
3.3     Any team member with services of at least one (1) month before December 31st of the calendar year is entitled to a pro-rated 13th month bonus.

3.4     13th month bonus is earned on actual employment within the calendar year.

3.5    The required 13th month pay shall be paid no later than December 24th of each year.
4.0     Responsibility  
The F&A Team will process and facilitate its release through payroll.

5.0     Frequency  
The 13th month pay will be released on or before Dec 24th of each covered year.
 
6.0     Distribution  
Eligible Team Members 
 
7.0     References  
Philippine Labor Code 
 
8.0     Records  
Pay Slip 
    • Related Articles

    • Salary Adjustment

      CPP-HR-0110_Salary Adjustment_V3 Prepared M. Martinez 26 Sept 2020 Approved F. Lenoir 15 Oct 2020 1.0 Objective This policy is established by the company to provide administrative guidance and define responsibilities for the maintenance of the salary ...
    • Salary Loans via Savii (formerly Uploan)

      A. Loan Application via Savii Visit www.savii.io/ph and click ‘I’m an Employee.’ Choose ‘Sign Up’ if it’s your first time applying for a loan with us, then select ‘Apply’ under Salary Loan to get started. Select ‘Login’ if you have an existing ...
    • Holiday Pay

      Ref. No.: CPP-HR_0202_V1_Holiday Pay  Prepared C. Malay 12/03/2013 Approved Execom 12/09/2013 1.0     Objective   To define regular and special holidays to be observed by the Company and to set policy in payment for work rendered on such holidays.  ...
    • SSS Loans

      For instructions how to REGISTER and CREATE A My.SSS Member Account Click HERE SSS Calamity Loan Please make sure that you have your personal online SSS account, visit the SSS website (sss.gov.ph) and choose "Member" Input your User ID then Password, ...
    • Attendance

      Ref. No.: CPP-HR-0301_V5_Attendance Prepared M. Martinez 08/21/2020 Approved F. Lenoir 08/24/2020 Purpose:  1. The purpose of this policy is to establish Infinit-O’s policy and procedures for handling employee absences and tardiness within an office ...