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www .sss .gov .ph. The Social Security System ( SSS; Filipino: Paseguruhan ng Kapanatagang Panlipunan) is a state-run, social insurance program in the Philippines to workers in the private, professional and informal sectors. SSS is established by virtue of Republic Act No. 1161, better known as the Social Security Act of 1954.
The Government Service Insurance System ( Filipino: Paseguruhan ng mga Naglilingkod sa Pamahalaan, abbreviated as GSIS) is a government-owned and controlled corporation (GOCC) of the Philippines. Created by Commonwealth Act No. 186 and Republic Act No. 8291 (GSIS Act of 1997), GSIS is a social insurance institution that provides a defined ...
The Labor policy in the Philippines is specified mainly by the country's Labor Code of the Philippines and through other labor laws. They cover 38 million Filipinos who belong to the labor force and to some extent, as well as overseas workers. They aim to address Filipino workers’ legal rights and their limitations with regard to the hiring ...
The Labor Code sets the rules for hiring and firing of private employees; the conditions of work including maximum work hours and overtime; employee benefits such as holiday pay, thirteenth-month pay and retirement pay; and the guidelines in the organization and membership in labor unions as well as in collective bargaining. The prevailing ...
The provisions on unemployment benefits were dropped when the legislation was amended in 1957 to prioritize retirement, sickness, disability and death benefits. Under the 2018 legislation, the benefits are dispensed through a one-time payment to equal to 50 percent of the claimant's monthly salary for a maximum of two months.
Tax Reform for Acceleration and Inclusion Law. The Tax Reform for Acceleration and Inclusion Law ( TRAIN Law ), [1] officially designated as Republic Act No. 10963, is the initial package of the Comprehensive Tax Reform Program (CTRP) signed into law by President Rodrigo Duterte on December 19, 2017. [2] The TRAIN Act is the first of four ...
Social Security benefits will likely play an important part in your retirement income. After all, nearly nine out of 10 people aged 65 and older were receiving benefits as of June 30, 2023.
Mandatory retirement. Mandatory retirement also known as forced retirement, enforced retirement or compulsory retirement, is the set age at which people who hold certain jobs or offices are required by industry custom or by law to leave their employment, or retire . As of 2017, as reported by the Organisation for Economic Co-operation and ...