Introduced by Senator Benign0
AN ACTGRANTING AN ANNUAL PRODUCTIVITY INCENTIVE TO ALLWORKERS IN THE PRIVATE SECTOR, ESTABLISHING MECHANISMS
TS IMPLEMENTATION, AND FOR OTHER PURPOSES
the Senate and the House
thePhilippines in Congress assembled:
This Act shall be known
the “WorkersProductivity Incentives Act of
hereby declared the policy ofthe State to continuously empower the Filipino workers in theircontinuing struggle to uplift and improve their lives through policies thateffectively contribute
greater economic gains, protection of their rightsand advancement of their welfare. The State shall, therefore, promote therights
workers in their just and
share in the profits from theproduction of goods and services in
endeavors where their labors andexpertise are employed by virtue of
the private sectorregardless of their employment status and not excluded by this Act shallbe granted an annual productivity incentive bonus which shall
equivalent to not less than ten percent
net profits before taxesgained by any company or business establishment for every fiscal yearthat engages their labor, skills and expertise for any period or duration,provided that they
least one month during thecalendar year.
the employee worked for only
the year, theproductivity incentive bonus shall be computed pro rata.SEC.
Rule Making Power
andEmployment, in consultation with the National Wages and ProductivityCommission, Bureau of Internal Revenue, and representatives from thelabor and employer sectors shall promulgate and issue within
months from the effectivity of this Act such rules and regulations
arenecessary to implement the provisions hereof.