Personal Finance, Family and Career

Posts from — November 2010

How to Compute for Your 13th Month Pay

It is now the month of November and Christmas isn’t the only ‘happy’ event waiting to happen. We come nearer to our employers giving us out well-deserved 13th month pay.

What is a 13th month pay?
Basically, 13th month pay is an extra month. We get one month of additional salary not later than December 24 every year. However, it will change depending on how much of the year you’ve worked with your employer.

How to calculate your 13th month pay?
There are just 2 things that could affect your 13th month pay. Your salary and how much of the year you’ve worked with your employer.

13th month = (salary / 12) * months

An example would be like this:

PhP 20833.33 = (PhP 25000 / 12) * 10 months

December is fast approaching. It’s better to know how much you’d be getting for your 13th month pay, right? Go and calculate how much. Good luck.

November 10, 2010   No Comments