DOLE “Department of Labor & Employment” releases a memorandum with regards to the computation of the holiday pay this coming June 12, 2014 in the celebration Independence Day.
According to the agency the said memorandum should be strictly imposed by private companies here in the country.
Based upon the Presidential Proclamation no. 655 June 12 is considered to be special non-working holiday.
In relation to the 116th Independence Day celebrated by the country, employees both in the government and private sectors are given one day to rest to reminisce the past regarding the story behind our liberty from the Spanish Colonizers, which colonize us for almost 3 centuries.
Please read the Pay Rules Located Below:
• If the employee did not work, he/she shall be paid 100 percent of his/her salary for that day. Computation: (Daily rate + Cost of Living Allowance) x 100%. The COLA is included in the computation of holiday pay.
• If the employee worked, he/she shall be paid 200 percent of his/her regular salary for that day for the first eight hours. Computation: (Daily rate + COLA) x 200%. The COLA is also included in computation of holiday pay.
• If the employee worked in excess of eight hours (overtime work), he/she shall be paid an additional 30 percent of his/her hourly rate on said day. Computation: Hourly rate of the basic daily wage x 200% x 130% x number of hours worked.
• If the employee worked during a regular holiday that also falls on his/her rest day, he/she shall be paid an additional 30 percent of his/her daily rate of 200 percent. Computation: (Daily rate + COLA) x 200%] + (30% [Daily rate x 200%)].
• If the employee worked in excess of eight hours (overtime work) during a regular holiday that also falls on his/her rest day, he/she shall be paid an additional 30 percent of his/her hourly rate on said day. Computation: (Hourly rate of the basic daily wage x 200% x 130% x 130% x number of hours worked).
The event will be held at Naga City Camarines Sur, President Aquino will leave a certain message addressing the heroic deeds of the 15 Bicolano Martyrs who died for the sake of freedom.
