econ - Where 365 days = = 298.00298 days rdinary working...

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How is the estimated equivalent monthly rate (EEMR) of the monthly-paid and  daily-paid employees computed?     Under the Labor Code, private sector workers should receive the applicable minimum  wages not lower than those prescribed by the Regional Boards under existing wage  orders. At present, the prescribed minimum wages are for normal working hours, which  shall not exceed eight hours per day. For monthly-paid employees      The factor 365 days in a year is used in determining the equivalent annual salary of  monthly-paid employees. To compute their EEMR, the procedure is as follows:                EEMR = Applicable Daily Rate x 365 days                                              12  For daily-paid employees                          The following formula may be used in computing the EMR of different groups of daily- paid employees for purposes of entitlement to minimum wages and allied benefits under  existing laws:
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This note was uploaded on 02/20/2012 for the course ACCOUNTING 102 taught by Professor Calamba during the Summer '11 term at Universität St. Gallen (HSG).

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econ - Where 365 days = = 298.00298 days rdinary working...

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