SOP Exhibits

Title:

Sample Computation of Gratuity Benefits Under RA 1616

SOP Number : HR-PB36

ANNEX A

SAMPLE COMPUTATION OF 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 57-6-16 3.46164
57-7-1 to 57-12-16 .45776
58-1-2 to 93-1-27 35.06849
------------
TOTAL 38.98789

Leave of Absence without pay -
Net Service 38.98789 years

III. Highest Salary Received P 189,552.00


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 1.5 mos. x 10 = 15.000.00 mos.
20 up to 30 years
2 mos. for each year over 2 mos. x 8.98789 = 17.97578 mos.
30 years -----------------------
TOTAL 52.97580 MOS.

V. Amount of Gratuity

(Highest salary received) (No. of gratuity months)

P15,796 x 52.97580 mos. = P 836,805.42
Less Gratuity Previously received = -
NET PROCEEDS P 836,805.42