Not all employees receive a so-called Christmas Bonus, but everyone must receive a mandated 13th-month pay from their employers. According to Presidential Decree No. 851, all rank and file employees, regardless of status, who have worked for at least one (1) month are entitled to receive 13th-month pay.
13th months pay is computed from the amount of one’s basic salary divided into 12 months multiplied by the number of months an employee worked on that year. For instance, you are receiving a basic salary of P20,000 per month and started July on that year, you will receive P10,000 as your 13th-month pay for rendering six months as an employee.
According to a report from Jobstreet.com.ph, there are specific industries who have been generous to their employees, giving regular bonuses on top of the 13th-month pay. Refer to this infographic:
With a goal to help Filipinos lead healthier financial lives, Moneymax regularly publishes tips and tricks on personal finance and lifestyle, among many other topics. For more finance-related news and articles, follow Moneymax on Linkedin.