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A total compensation package goes beyond your new hires' base pay rate. It also includes items like health insurance, bonuses, and paid time off. By offering competitive employee compensation, you can attract and retain talent who will help your business thrive.
- The State Insurance Fund shall be liable for compensation to the employee or his dependents, except when the disability or death was occasioned by the employee's intoxication, willful intention to injure or kill himself or another, notorious negligence, or otherwise provided under this Title. ART. 173.
The SSS reimburses the employer for funding the leave. ?Death benefit.? Beneficiaries of deceased employees are given a lump sum or monthly pension. If the deceased employee has dependents, up to five of them are given 10% of the member's monthly pension or ?250,000, whichever is higher. Unemployment insurance.
Under P.D. No. 626, ECC is mandated to provide meaningful and appropriate compensation to workers and their dependents in the event of work-related contingencies such as sickness, injury, disability or death.
What Is Employee Compensation? Employee compensation refers to the combination of salary and wages, benefits, bonuses, and any additional perks employees receive for performing their job.