In spite of rising prices of commodities and services due to the high inflation rate, the Filipinos probably have a reason to celebrate the holiday season, after all, especially those who are working in the government.
Government employees will receive cash incentives and year-end bonus starting November 15, 2018. Just in time for the coming holiday season.
Government employees will receive cash incentives and year-end bonus starting November 15, 2018. Just in time for the coming holiday season.
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Budget Secretary Benjamin Diokno in a breakfast forum in Manila said: “In the spirit of the upcoming Christmas season, government workers nationwide will receive their 14th pay or Christmas bonus and cash gift starting tomorrow, November 15.”
According to Diokno, government workers will receive P5,000 worth of cash gifts and a year-end bonus equivalent to their full one-month wages. The Department of Budget and Management (DBM) has allocated P29.7 billion for civilian employees while a total budget of P29.7 billion allotment was designated for military and uniformed personnel (MUP). The department also allocated P5.6 billion for the cash gifts for civilian personnel and P6.5 billion for MUP.
The release of year-end bonus and cash gift is pursuant to Budget Circular No. 2016-4, which mandates that the incentives be given not earlier than November 15 of the current year to qualified government personnel.
Eligible to receive the bonus and incentives are those in government service as of October 31 of the current year and with at least four months of service from January 1 to October 31.
Also qualified to receive the bonus and cash gift are those who have retired or separated from government service before October 31 of the same year and have rendered at least a total of an aggregate of four months of service from January 1, shall be granted a pro-rated year-end bonuses and cash gift within the month of retirement or separation.
“The 13th-month pay and other benefits, including productive incentives and Christmas bonuses, are exempted from tax if they do not exceed P90,000, according to Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law,” Diokno said.
“On top of these bonuses, government employees can also look forward to receiving their Productivity Enhancement Incentive, which will be released starting December 15,” he said.
According to Diokno, government workers will receive P5,000 worth of cash gifts and a year-end bonus equivalent to their full one-month wages. The Department of Budget and Management (DBM) has allocated P29.7 billion for civilian employees while a total budget of P29.7 billion allotment was designated for military and uniformed personnel (MUP). The department also allocated P5.6 billion for the cash gifts for civilian personnel and P6.5 billion for MUP.
The release of year-end bonus and cash gift is pursuant to Budget Circular No. 2016-4, which mandates that the incentives be given not earlier than November 15 of the current year to qualified government personnel.
Eligible to receive the bonus and incentives are those in government service as of October 31 of the current year and with at least four months of service from January 1 to October 31.
Also qualified to receive the bonus and cash gift are those who have retired or separated from government service before October 31 of the same year and have rendered at least a total of an aggregate of four months of service from January 1, shall be granted a pro-rated year-end bonuses and cash gift within the month of retirement or separation.
“The 13th-month pay and other benefits, including productive incentives and Christmas bonuses, are exempted from tax if they do not exceed P90,000, according to Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law,” Diokno said.
“On top of these bonuses, government employees can also look forward to receiving their Productivity Enhancement Incentive, which will be released starting December 15,” he said.
Filed under the category of rising prices, high inflation rate, holiday season, Government employees, cash incentives, year-end bonus
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