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Compensation and Benefits by James

The document outlines the concepts of compensation and benefits, detailing the distinctions between wages and salaries, as well as incentive programs aimed at motivating employees. It also discusses the rights of workers in the Philippines regarding wages, working hours, and benefits, including laws that protect these rights. Additionally, it covers specific labor laws related to minimum wage, overtime pay, and meal/rest periods, emphasizing the importance of fair compensation and working conditions.

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Jimmy Rivas
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8 views13 pages

Compensation and Benefits by James

The document outlines the concepts of compensation and benefits, detailing the distinctions between wages and salaries, as well as incentive programs aimed at motivating employees. It also discusses the rights of workers in the Philippines regarding wages, working hours, and benefits, including laws that protect these rights. Additionally, it covers specific labor laws related to minimum wage, overtime pay, and meal/rest periods, emphasizing the importance of fair compensation and working conditions.

Uploaded by

Jimmy Rivas
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Compensation and

Benefits

Group-8 Member:
James Samson
Vicente Bergildo
John Demetri Portio
Marisol Alvizo
Hoshino Celio
Compensation
Compensation refers to the total monetary and non-
monetary rewards given to employees in exchange for their
work or services to an organization. It includes direct
financial payments and other forms of rewards.

Benefits
Benefits are non-wage compensations provided to
employees in addition to their normal salaries or wages.
These are usually offered as part of a comprehensive
rewards package to improve employee satisfaction, loyalty,
and work-life balance.
WAGES AND SALARIES

WAGES
Wages refer to the monetary compensation paid to workers
for their labor, typically calculated on an hourly, daily, or
piece-rate basis.

SALARIES
Salary refers to pre-determined compensation provided for
professional services, not subject to changes based on
hours worked.
INCENTIVE PROGRAMS
- Incentive programs are structured plans or strategies
designed to motivate and reward employees, customers, or
partners for achieving specific goals, improving
performance, or demonstrating desired behaviors

Comparable worth- refers to the principle that jobs requiring


comparable skills, responsibilities, and working conditions
should receive equivalent compensation, regardless of
whether they are traditionally male- or female-dominated
roles. It is a concept aimed at promoting pay equity and
eliminating wage discrimination based on gender.
Benefits Program - is a structured plan developed by an organization
to provide employees with non-wage compensations that enhance their
overall well-being and job satisfaction. These programs are designed to
support employees' health, financial security, and work-life balance,
complementing their monetary compensation.

LAWS ON WAGES AND WORKING HOURS IN THE


PHILIPPINES

- The state shall afford protection to labor,promote full employment,


ensure equal work opportunities regardless off sex.
- Race creed and regulate the relations between workers and
employees.
- Shall assure the rights of waters to self – organization, collective
bargaining, security of tenure and humane conditions of work.
LAW’s
- Labor Code (PD 928)
- (PD 851) - amended on 13th month pay
- (PD 525) – amended on emergency allowance
- RA No. 6727 (wage rationalization act)

The Rights of Workers in the Philippines with regard to


wages.

- Fair wages and equal remuneration for work of equal value without
distractions of any kind.
- A decent living for themselves and their families.
The Rights of Workers in the philippines with regard to rest,
working hours and holiday.

- The right to fair working conditions, including rest, free time, limits
on working hours, paid holidays, and extra pay for public holidays

The Philippines labor law provides for the following rights.

- Considering that the normal hours of work shall not exceed 8 hrs .
- The right to a meal period.
- The right to night shift differential pay.
- The right to a weekly rest day.
- The right to additional compensation for rest day or holiday work.
- The right to a service incentive leave.
- The right not to be required to perform overtime work except in
emergency and the right to overtime pay for overtime work.
“
MINIMUM WAGE LAW
Republic Act No. 602,
also known as the Minimum Wage Law, was enacted in 1951 to
establish the first comprehensive minimum wage standards in the
Philippines. It aimed to ensure that workers receive fair
compensation for their labor and protect them from exploitation,
particularly in industries with a history of low wages.
Republic Act No. 6727 (Wage Rationalization Act)
”
This law was enacted on June 9, 1989, with the goal of promoting
productivity and providing workers with a fair wage that aligns with
economic conditions in their specific region. It introduced a
decentralized system for setting minimum wages and gave
authority to Regional Tripartite Wages and Productivity Boards
(RTWPBs) to determine appropriate minimum wage levels across
different regions in the Philippines.
MEAL AND REST PERIOD - A worker is entitled to not less than one hours time-off
regulars meals, and to rest period or coffee break of five to twenty minutes as provided
in the implementing rules and regulation.

NIGHT SHIFT DIFFERENTIAL PAY - the labor code grants the right to night shift
differential pay in recognition of the discomfort, disadvantages, and dangers of working
at night.

OVERTIME - A covered employee who works beyond 8 hours on an ordinary working day
shall be paid for overtime work an amount equivalent to his regular wage plus, at least
25%.

Philippines labor laws

OVERTIME LABOR LAWS


-all employee required to work beyond 8hrs in one work day is entitled to overtime pay
-article 87 of the labor code provide that the employee is paid for the overtime work an
additional compensation equivalent to his regular wage at least 25% there of.
TERMINOLOGIES

Overtime pay –is the additional compensation payable to employee for services
or work beyond 8 hrs.

Overtime work – any work performed beyond the normal 8 hours of work in one
workday is considered as overtime work.

Workday – is the consecutive 24 hours period which commences from the time the
employee start to work and ends at the same time the following.

Overtime pay rates – depend upon the day the work is performed whether it is
ordinary working day , a special day , holiday , or a rest day.
Work need not be continuous – work performed by the employee need not be
continuous as long as it falls within the same day.

Under time cannot be offset by overtime


- some employee have the practice of offsetting under time and overtime.
- This practice is prohibited under article 87 of the labor code.

Emergency overtime work – as a general rule, found in article 89 of the labor


code. Under the said article, employees may be compelled to perform overtime
work in any emergency cases.
Managerial employees not entitled to overtime pay
-Article 82 of the labor code states that the provisions of the labor code on working
conditions and rest periods shall not apply to managerial employees.

Weekly Rest Period


-All employees, whether operating for profit or not, including public utilities operated
by private persons, shall provides their employees with a weekly rest as provided in
the labor code.
Thank you :()

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