Guide on How to Compute your 13th Month Pay based on DOLE’s Computation
HOW TO COMPUTE YOUR 13TH MONTH PAY – Do you want to get an idea of how much you may possibly receive as your 13th-month pay?
Many people now surely await their 13th-month pay. A lot of employees rely on it as the chance to pay for some existing loans, achieve a goal, and cope with the holiday expenses. Truth be told that while the holiday season is “the most wonderful time of the year”, there is a lot to spend on. Meanwhile, many people won’t surely be bothered much as nothing equates to quality family time.
For most employees, a part of their 13th-month pay is intended for the grocery at home so there are foods that the family can share during special events like Christmas and New Year. Some also allot a part of their budget for the gifts they want to buy for their loved ones.
Another usual spending of the 13th-month pay is the paying off of loans. By paying off a loan, you are not only using your money but you are also saving. How? You are definitely saving from the interest and penalties that may cost you if you do not pay your loan as early as you can.
The 13th-month pay is not a fixed rate for all employees. It varies depending on how much an employee received in 12 months. Do you want to know how to compute your 13th month pay?
Many people are eager to know how the 13th month pay is computed so they will get an idea of how much they may receive by December. According to the Department of Labor and Employment (DOLE), the average total salary you received from January to December is your 13th-month pay.
How to Compute your 13th Month Pay?
January (no absences) – P15,000.00
February (no absences) – P15,000.00
March (no absences) – P15,000.00
April (no absences) – P15,000.00
May (1 absence) – P14,200.00
June (no absences) – P15,000.00
July (no absences) – P15,000.00
August (1 absence) – P14,200.00
September (no absences) – P15,000.00
October (1 absence) – P14,200.00
November (no absences) – P15,000.00
December (no absences) – P15,000.00
Total Salary Received = P177,600.00 / 12 months
Your 13th Month Pay = P14,800.0