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The Labor Code of the Philippines governs employment practices and labor relations in the Philippines. It also identifies the rules and standards regarding employment such as pre-employment policies, labor conditions, wage rate, work hours, employee benefits, and termination of employees.
The Department of Labor and Employment ( Filipino: Kagawaran ng Paggawa at Empleo, [2] commonly abbreviated as DOLE) is one of the executive departments of the Philippine government mandated to formulate policies, implement programs and services, and serve as the policy-coordinating arm of the Executive Branch in the field of labor and employment. It is tasked with the enforcement of the ...
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 labor code allows the typical working hour to be 8 ...
1. Determine your retirement savings goals The first step to thinking about retirement savings is asking yourself what you want your retirement to look like. How do you plan to fill your time? A ...
Here’s what you need to know about retirement planning including key steps in the process and some of the top retirement plans to consider.
SEP-IRA. A SEP-IRA was one of the first retirement plans devised for the self-employed. With a SEP, you’re allowed to contribute up to 25% of an employee’s compensation into a SEP retirement ...
The National Labor Relations Commission ( Filipino: Pambansang Komisyon sa Ugnayang Paggawa, abbreviated NLRC) is a quasi-judicial agency tasked to promote and maintain industrial peace based on social justice by resolving labor and management disputes involving local and overseas workers through compulsory arbitration and alternative modes of ...
Learn the ins and outs of 401(k) withdrawals and potential penalties before making any moves with your retirement money.
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