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  • De Minimis Benefits

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    markbryanreal
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    The document outlines various fringe benefits provided to private and public employees that are considered de minimis or tax exempt under the NIRC and TRAIN laws. Some key benefits that remain tax exempt for both private and public employees include unused vacation and sick leave credits if not exceeding 10 days, medical cash allowances up to certain amounts, rice subsidies up to ₱2,000/month, and actual medical assistance up to ₱10,000/year. Larger benefits like achievements awards and gifts are also still tax exempt if not exceeding ₱10,000.

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    De Minimis

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    The document outlines various fringe benefits provided to private and public employees that are considered de minimis or tax exempt under the NIRC and TRAIN laws. Some key benefits that remain tax exempt for both private and public employees include unused vacation and sick leave credits if not exceeding 10 days, medical cash allowances up to certain amounts, rice subsidies up to ₱2,000/month, and actual medical assistance up to ₱10,000/year. Larger benefits like achievements awards and gifts are also still tax exempt if not exceeding ₱10,000.

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    © All Rights Reserved
    Flag for inappropriate content
    6 views1 page

    De Minimis Benefits

    Uploaded by

    markbryanreal
    The document outlines various fringe benefits provided to private and public employees that are considered de minimis or tax exempt under the NIRC and TRAIN laws. Some key benefits that remain tax exempt for both private and public employees include unused vacation and sick leave credits if not exceeding 10 days, medical cash allowances up to certain amounts, rice subsidies up to ₱2,000/month, and actual medical assistance up to ₱10,000/year. Larger benefits like achievements awards and gifts are also still tax exempt if not exceeding ₱10,000.

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    © All Rights Reserved
    Flag for inappropriate content
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    De Minimis Benefit NIRC TRAIN

    Private Employee Monetized - Vacation leaves not - Vacation leaves not


    Unused Vacation and Sick exceeding 10 days exceeding 10 days
    leave credits - Sick leaves regardless - Sick leaves regardless
    of how many days of how many days
    Public Employee Monetized Tax exempt Tax exempt
    Unused Vacation and Sick
    leave credits
    Medical Cash Allowance to 1,500 per year ; 750 per 3,000 per year ; 1,500 per
    Dependents semester ; 125 per month semester ; 250 per month
    Rice Subsidy 1,500 per month 2,000 per month
    Uniform allowance 5,000 per year 6,000 per year
    Actual medical assistance 10,000 per annum 10,000 per annum
    Laundry allowance 300 per month 300 per month
    Employees achievement Not exceeding 10,000 Not exceeding 10,000
    awards
    Gifts Not exceeding 5,000 Not exceeding 5,000
    Daily meal allowance for Not exceeding 25% of the Not exceeding 25% of the
    overtime work and night shift basic minimum wage basic minimum wage
    Benefits from Collective Not exceeding 10,000 per Not exceeding 10,000 per
    Bargaining Agreement & year year
    Productivity Incentive
    Schemes

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