MY COLLEAGUE’S FIRST OVERTIME PAY
I am quite happy that after so many struggles and pushing for the equitable compensation of extra work rendered, my colleague was finally sent a notice that he will at last get his overtime pay. For more than a year now, he will finally get to taste the fruit of his extra work. He will have his overtime pay at last!
Unfortunately, the company has announced that due to the financial crisis and since most of the claims were undocumented or lacks approval amidst the presence of timesheets and client invoices, payouts were deduced from 100% to 25% payable in 2 installments within 60 days.
Everyone was compulsory required to sign on the memo with waiver and quitclaim for future liabilities. The only problem out of this good news is that he gets to have only 25% of his total claims which seem not right. Now he gets to wait for 150 days to finally encash his 11 Pesos subject to 32% income tax which is like 11 pesos less 3.52. Thus he will have by August 2009 an amount close to 7.48 Pesos.
Fascinating! If this person rendered 1 day work or let say 8 hours of work, I assume that he is being paid 1 Peso per hour of service. Hmmm. If investors will get to read this blog entry, I am sure that they will flock the country because this is indeed record-breaking for the Philippines having the cheapest cost of labor. Hehehe. 1 Pesos for 1 hour!
I wonder if it is okay as well to render only 2 days work even if we are paid to work for 5 days just to put equity on the logic used. Hehehe. I am very much sure that no one would agree on ordering a whole pizza and ending up receiving only a quarter of it! Right? Well… at least for 7.48 Pesos, you will get to buy POP COLA. Hehehe. I am sure that somehow my colleague is very much thankful for at least being compensated for the extra service rendered. Ayus na ayus! Hahaha.