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- To compute the last pay, you can follow these steps:
- Calculate the daily rate: Multiply your gross monthly pay by 12 to get your annual pay, then divide by 260 to get your daily rate1.
- Add up the components: Add your semi-monthly or monthly gross compensation, 13th month pay, and tax refund (if applicable)2.
- Deduct total deductions: Subtract SSS, PHIC, HDMF contributions, and tax due (if applicable)2.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Say your employer pays you twice a month, on the 15th and the 30th, and your gross monthly pay is ₱15,000. Your last day of work is November 10th, 2023. If you multiply ₱15,000 by 12, you get ₱180,000. This is your annual pay. Next, divide ₱180,000 by 260, and you get ₱692.31, your daily rate.www.jobstreet.com.ph/career-advice/article/underst…To compute the final pay, add the semi-monthly or monthly gross compensation, 13 th month pay, and tax refund if applicable, then deduct the total deductions like SSS, PHIC, and HDMF contributions and tax due if applicable.taxacctgcenter.ph/3-things-you-should-know-about … - People also ask
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