Chavez, Kristina Camille D.

Psy 301
Employee benefits
SSS (Social, Security, System)
A. Sickness -The sickness benefit is a daily cash allowance paid for the number of
days a member is unable to work due to sickness or injury.
B. Maternity leave- Any pregnant woman employee who has worked with the
company for at least six months will be granted a maternity leave of at least two
weeks prior to her due date (expected date of delivery) and four weeks after
normal delivery or miscarriage with full pay based on her regular salary.

C. Disability-Still adopting the World Health Organization’s (WHO) definition of

disability as any “restriction or lack (resulting from impairment) of ability to
perform an activity in the manner or within the range considered normal for a
human being,” the SSS redesigned the granting of disability benefit to its
members. The aim is to improve the delivery of services without compromising
the need to ensure that the appropriate disability benefit is paid to deserving
members.
D. Retirement -The retirement benefit is a cash benefit paid either in monthly
pension or as lump sum to a member who can no longer work due to old age.
E. Death-The death benefit is a cash benefit paid either in monthly pension or lump
sum to the beneficiaries of a deceased member.
F. Funeral- The funeral grant is the amount given to whomever pays the burial
expenses of the deceased member or pensioner. Starting August 1, 2015, the
amount of the funeral grant was increased to a variable amount ranging from a
minimum of P20,000 to a maximum of P40,000, depending on the member’s paid
contributions and CYS.
PAG-IBIG (Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industria at Gobyerno)
A. Housing Loan — This is perhaps the most popular program benefit of the Pag-
IBIG Fund. Any member knows a little bit about this. In fact, the mere mention of
the term “Pag-IBIG Fund” almost always translates to Housing Loan.
B. Short Term Loan — Just like SSS and GSIS, Pag-IBIG Fund also offers
financial assistance to qualified member by granting short term loan.
C. Provident Savings — This is something that a lot of members are not aware of.
If you are one of them, pay attention to this part.
 PhilHealth

A. Inpatient -These benefits are paid to the accredited Health Care Institution (HCI)
through All Case Rates
B. Outpatient -Are Services That Include Elective (Non-Emergency) Surgical
Procedures Ranging From Minor To Major Operations, Where Patients Are Safely
Sent Home Within The Same Day For Post-Operative Care

C. Z Benefit -Package is being offered to PhilHealthmembers to address health conditions that

trigger prolonged hospitalization and very expensive treatments. ... PhilHealth classifies
disease conditions from type A (the simplest and cheapest) to type D (the more severe and
costly

COMPANY BENEFITS

A. Social Security Systems (SSS) Contributions

Republic Act No. 8282, otherwise known as the Social Security Act of 1997,
refers to the social security system in the Philippines that is initiated, developed
and promoted by its Government. The social security system is aimed at
providing protection for the SSS member against socially recognized hazard
conditions, such as sickness, disability, maternity, old age and death, or other
such contingencies not stated but resulted in loss of income or results to a
financial burden.
B. National Health Insurance Program (NHIP)

The employee and his/her employer(s) are to contribute for the medical insurance
of the said employee in accordance to the Republic Act 7835 on Medicare Program
which is administered by the Philippine Health Insurance Corporation (Philhealth).
Monthly employee contribution depends on the employee's actual monthly salary.
The contribution schedule is provided by Philhealth. (See: Philhealth Premium
Contribution Schedule)

C. Contribution to Home Development and Mutual Fund (HDMF)

The employer(s) is required to contribute per month not less than P100.00 to the
employee's Home Development and Mutual Fund. In accordance to the periodic
remittance schedule provided by HDMF, the employer(s) will remit this
contribution, in addition to that of the employee's, which is to be deducted from
his/her payroll.
D. The 13th Month Pay

As mandated by the Presidential Decree No. 851, the employee shall receive a bonus
salary equivalent to one (1) month, regardless of the nature of his/her employment, not
later than December 24 of every year.

E. Service Incentive Leave

Book III, Chapter III of the Labor Code of the Philippines covers the employee's benefit
for Service Incentive Leaves. According to Article 95, an employee who has rendered at
least one year of service is entitled to a yearly five days service incentive leave with pay.
(See: Article 95, Conditions of Employment)

F. Meal and Rest Periods

Under Article 83, the employee is provided a one-hour employee benefit for regular
meals, when working on an eight (8 hour) stretch. Employees are also provided adequate
rest periods in the morning and afternoon which shall be counted as hours worked. (See:
Article 83, Conditions of Employment).