Benefits an Employee May Receive Upon Resignation 2019 (What Your Employer Can Give You)

Upon resignation, another thing to look forward to is your back pay. In the Philippines, back pay or final pay is the money you receive after resigning from a company. It is typically given a month after your last day or after submitting all HR requirements. The following items must be considered when computing for backpay:
A. Last salary – your employer may withhold your last salary and release it with your back pay.
B. Pro-rated 13th month pay – you must receive a pro-rated 13th month pay if you resigned before the year ends. If your basic salary, for example, is PHP 15,000 per month and you have worked for 10 months, your 13th month computation is: PHP 15,000 x 10 months / 12 = PHP 12,500. Here’s a guide to 13th month pay compuitation in the Philippines.
C. Tax refund – you must receive a tax refund if the tax you owe is less than the sum of the total amount of your withholding taxes and estimated taxes.
D. Vacation leave conversion (if convertible to cash)
E. Sick leave conversion (if convertible to cash)
F. Deductions and/or liabilities (payment to loans or lost/damaged office equipment)

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