Employees: Monthly-Paid and Daily-Paid
What is a monthly-paid or daily-paid employee?
Monthly-paid employees are “those who are paid every day of the month, including unworked rest days, special days, and regular holidays. Factor 365 days in a year issued in determining the equivalent monthly salary of monthly-paid employees.” (2016 Handbook on Statutory Monetary Benefits)
Daily-paid employees are “those who are paid on the days they actually worked and on unworked regular holidays.”
The 2016 Handbook on Statutory Monetary Benefits provide for the following computations as guide to assist employers and HR practitioners:
For Monthly-Paid Employees