SOP Exhibits
Title
:
Sample Computation for Gratuity Benefits Under RA 1616
SOP Number :
ANNEX A
Sample Computation for Gratuity Benefits Under RA 1616
I.
Particulars
Name of Employee : Jorge Catalan
Date of Birth : 07-27-27
Date of Retirement : 01-27-93
Age of Retirement : 65-06-00
II.
Period of Service
53-12-30 to 57-06-16 3.46164
57-07-01 to 57-12-16 .45776
58-01-02 to 93-01-27 35.06849
T o t a l
Leave of Absence without Pay -
Net Service 38.98789 years
III.
Highest Salary Received
P189,552.00
Total Salary for the last three years preceding retirement (90-1-27 to 93-1-27)
3 years x P189,552 P 568,6560
Average Monthly Salary 15,796.00
IV.
Gratuity In Terms of Months
1 mo. each for first 20 years 1 mo. x 20 = 20.000.00 mos.
1.5 mos. for each year over
20 up to 30 years 1.5 mos. x 10 = 15.000.00 mos.
2 mos. for each year over
30 years 2 mos. x 8.98789 =
17.97578 mos
.
TOTAL = 52.97580 mos.
V. Amount of Gratuity
(Highest Salary Received) (No. of gratuity Months)
P 15,796 x 52.97580 mos. = P 836,805.42
Less Gratuity Previously Rec’d. = P -
NET PROCEEDS = p 836,805.42