Economics Wages LVl - Lance Vincent Llamas BABA2A Gleman...

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Lance Vincent Llamas BABA2A Gleman Estañol ECON1E_A Philippine Wage Setting The minimum wage in the Philippines is set in each region. Thus the minimum wage in the Philippines varies a great deal based on where one lives. The minimum wage in the Philippines is quite low and it is set by the day rather than the hour. When the minimum wage rate is increased it is increased by the amount paid each 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 Where 365 days = 298 days - Ordinary working days 52 days - Sundays/Rest days 12 days - Regular Holidays 3 days - Special days 365 days -Total equivalent no. of days in a year 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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Economics Wages LVl - Lance Vincent Llamas BABA2A Gleman...

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