Welcome to

Business math
M r. A r o n P a u l S a n M i g u e l

class
Prepare these before we start
class:
Learning packet
Pen
Paper
Calculator
 Wage
Related
Benefits
S e c o n d Q u a r t e r - We e k 4
Objectives
At the end of the discussion, you should be
able to:
Identify the different kind of benefits
Compute benefit amounts
Solve word problems involving income benefits
 Benefit
It is employee compensation given by an employer on top
of the basic salary/wage.
Benefits may come in the form of cash or in kind

The Labor Code of the Philippines, otherwise known as

Presidential Decree No. 442, governs all employee-employer
relations, their rights and obligations.
SSS
GSIS
 SSS/GSIS
Social Security System/ Government Service Insurance
System was created to provide private employees and their
families protection against socially recognized hazards and
conditions.
Government Service Insurance System is the equivalent
system for Philippine government employees.
GSIS 9%employee 12% employer
600.00
 HDMF/PAG-IBIG
It is provident saving system supplying housing loans
to private and Philippine government employees, and to
self-employed persons who select to join the fund..

Employer/s is required to contribute per month not less

than Php100.00 to the employees.
600.00

300.00
 PHILHEALTH
It is administered by the Philippine Health Insurance
Corporation and it provides employees with a practical means
of paying for adequate medical care in the Philippines.
The employee and his/her employer/s are required to
contribute to the medical insurance of the employee in
accordance to the Republic Act 7835 on Medicare Program
For Government Employee 3% of the basic salary, both
shared by the employer and employee.
 23,288.14

11,644.22
600.00 11,644.22
187.50
300.00

3121.13
Mr. Renato A. Balagtas is a Public School Teacher and his one month
pay slip is shown below
Name: Renato A. Balagtas Division: Valenzuela
Exmploye No.: 1234567

Total Earnings Total Deductions Net Pay

Basic: 24,945.00 Tax: 238.41 23, 537.36

Allowance: 2,000 GSIS: 2,245.05
PHILHEALTH: 374.18
PAG-IBIG 100.00

Total 26,495
26,945.00 Total: 2,957.64
 29,995.37

14,997.69

14,997.69

37,560.01 7,564.64
Assignment :
1. What are the different benefits under
the labor code?
2. Study how to compute for those
benefits.
Benefits Mandated by the
Labor Code
Benefits Mandated by the
Labor Code
Benefits Mandated by the
Labor Code
Benefits Mandated by the
Labor Code
Benefits Mandated by the
Labor Code
Benefits Mandated by the
Labor Code
Benefits Mandated by the
Labor Code
Benefits Mandated by the
Labor Code
Benefits Mandated by the
Labor Code
Benefits Mandated by the
Labor Code
Benefits Mandated by the
Labor Code
Benefits Mandated by the
Labor Code
Benefits Mandated by the
Labor Code