3) What are the different kinds of compensation?
a) Regular compensation - includes basic salary, fixed allowances for representation, transportation and others paid to an employee
b) Supplemental compensation - includes payments to an employee in addition to the regular compensation such as but not limited to the following:
- Overtime Pay
- Fees, including director's fees
- Commission
- Profit Sharing
- Monetized Vacation and Sick Leave
- Fringe benefits received by rank & file employees
- Hazard Pay
- Taxable 13th month pay and other benefits
- Other remunerations received from an employee-employer relationship
- Fees, including director's fees
- Commission
- Profit Sharing
- Monetized Vacation and Sick Leave
- Fringe benefits received by rank & file employees
- Hazard Pay
- Taxable 13th month pay and other benefits
- Other remunerations received from an employee-employer relationship
Source : http://www.bir.gov.ph/index.php/tax-information/withholding-tax.html#wt0013
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