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  • 13 Month Pay PHP 19,750.00

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    Jenny Rose Castro Fernandez
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    Eric worked at BYZ Company for 5 years and resigned on December 31, 2019. He earned 20,000 PHP per month with 3 unpaid leaves in his last year. To calculate his 13th month pay, his daily rate of 1,000 PHP was determined from his monthly salary. His total annual income was calculated as 237,000 PHP by multiplying his monthly salary by 12 months and subtracting the unpaid leaves. His 13th month pay was then determined to be 19,750 PHP by dividing his total annual income by 12 months.

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    Eric worked at BYZ Company for 5 years and resigned on December 31, 2019. He earned 20,000 PHP per month with 3 unpaid leaves in his last year. To calculate his 13th month pay, his daily rate of 1,000 PHP was determined from his monthly salary. His total annual income was calculated as 237,000 PHP by multiplying his monthly salary by 12 months and subtracting the unpaid leaves. His 13th month pay was then determined to be 19,750 PHP by dividing his total annual income by 12 months.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    18 views1 page

    13 Month Pay PHP 19,750.00

    Uploaded by

    Jenny Rose Castro Fernandez
    Eric worked at BYZ Company for 5 years and resigned on December 31, 2019. He earned 20,000 PHP per month with 3 unpaid leaves in his last year. To calculate his 13th month pay, his daily rate of 1,000 PHP was determined from his monthly salary. His total annual income was calculated as 237,000 PHP by multiplying his monthly salary by 12 months and subtracting the unpaid leaves. His 13th month pay was then determined to be 19,750 PHP by dividing his total annual income by 12 months.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    1. Eric was five year employed at BYZ Company. He resigned last Dec.

    31,
    2019. He was earning Php 20, 000.00 per month with 3 unpaid leave during
    his last year. How much is his 13 month pay?

    Basic Monthly Salary Php 20,000.00


    Daily Rate Php 1,000.00
    Length of employment for the calendar year 12 months
    Unpaid Leave 3
    Total annual income (minus unpaid absences) Php 237,000.00
    th
    13 month pay Php 19,750.00

    Solution:

    Daily rate

    Basic monthly salary = Daily rate


    20

    20,000.00 = 1,000.00
    20

    Total annual income

    Basic monthly salary x Length of employment - Unpaid leave = Total annual


    income

    20,000.00 x 12 - 3,000.00 = 237,000.00

    13th month pay


    Annual Basic Salary (minus unpaid absences) /12 months = 13th month pay

    Php 237,000.00 = Php 19,750.00

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