MALASAKIT FUND POLICY

Policy Statement:

The Malasakit Fund Policy is a voluntary Employee Assistance Program in response to the “Pass-the-Hat” initiative we are doing in connection with our Remote-First work set-up. This is designed to facilitate the ease of accepting voluntary financial support coming from our team members.

1. Objective:
   
   

The primary objective of the Malasakit Fund Policy is to provide timely and essential financial assistance to eligible team members during unforeseen emergencies. By creating a platform for voluntary donations from our employees, we aim to foster a culture of compassion and solidarity within our organization, where colleagues can support each other during times of need.

2. Scope:
   
   

This policy applies to all probationary and regular team members.

3. Provisions:

This policy covers emergencies such as the death of immediate family members (as defined in the policy) or the aftermath of natural calamities, including floods, typhoons, fires, and similar crises.

1. All team members are invited to contribute voluntarily, via Google form.
   
   

2. Team members are free to decide whether they prefer to make this contribution per pay period, on a monthly basis, or as a one-time payment through salary deduction.
   
   

3. Team members have the option to select the duration of their donation, whether it is a one-time payment or deductions spread over 3, 6, or 12 months.

4. The Malasakit Fund Committee will include members from HR, Finance, and Operation leaders. Their role is to ensure that the fund is transparent and well-managed.

4. Eligibility Criteria:

1. Team members, both probationary and regular, who voluntarily contribute are eligible to request assistance in the event of emergencies such as the death of an immediate family member or natural calamities.
   
   

2. Part-time, Consultant, and Interns are not covered by this policy.

3. Immediate Family Members:

1. Parents

2. Legitimate spouse

3. Children

4. Parents-in-law

5. Siblings

6. Legally adopted children

7. Common Law Partner

8. Same-Sex Partner

5. Requesting Assistance:
   
   

1. Requesting Team members can submit a request in the designated request form, providing details of the emergency and the required assistance.
   
   

2. Team members need to provide documents for their request before it can be processed. Please refer to ff requirements:

1. Death Certificate

2. Photo (for natural calamity)
   
   

3. HR will process the request with the approval of the committee.
   
   

4. Requests will be reviewed confidentially, and approval will be based on eligibility, fund availability, and the situation's urgency.
   
   

5. Approved assistance will be disbursed directly to the team member’s payroll account, with the amount determined by the severity of the emergency and available funds.

6. A team member can only claim a maximum of two (2) Malasakit Fund assistance requests in a year.
   
   

7. Team members can request to cancel their Malasakit Fund deductions by informing HR.
   
   

8. Team members who discontinue their voluntary contributions will not be eligible to request or claim funds if they have not contributed for three consecutive months. Must reach Min Contribution 240 to be eligible for the year - covered.
   
   

6. Authority to Deduct and No Refund Waiver: 

1. Team members who choose to voluntarily contribute to the Malasakit Fund will need to sign an Authority to Deduct to allow contributions to be deducted from their payroll.

2. A No Refund waiver will also be signed by the team members who choose to voluntarily contribute. If the team members separate from the company, there will be no refund of the voluntary contributions made.

7. Responsibility:

1. HR ER

1. HR ER or a designated committee will oversee the collection of donations, ensuring transparency in accounting and proper utilization for intended purposes.

2. HR ER or a designated committee will oversee the monthly updates on the fund's balance, contributions, and disbursements will be communicated to team members with voluntary contributions via email to maintain transparency and trust.

3. The designated committee will be responsible for the approval of the Malasakit fund request.

4. The HR ER or designated committee will maintain monitoring of the list of team members with voluntary contributions and team members who claim contributions.

5. The HR ER or designated committee member is responsible for providing the list of team members who volunteered for the contribution to the F&A Team on the 15th & end of the month to be included in the payroll.

2. Committee

1. While we will prioritize contributing members to the fund. The committee reserves the right to provide assistance outside of the donating members of the fund. 

1. HR ER Compensation and Benefits

2. HR ER Senior Manager

3. VP for Finance

4. Execom

3. Finance

1. The F&A Team will handle the deduction of voluntary contributions of team members from payroll on the 5th and 20th of each month.

8. Frequency

Annual monitoring should be done with regard to the implementation of this policy.