In the workplace, the accountants are usually tasked to determine and compute the monetary benefits for salaries/wages, overtime pay, night shift differential pay, additional compensation for rest day, Sunday or holiday work, service incentive leave pay, service charges, separation pay, retirement pay and other claims of the employees. At times, the employees concerned as well as the employer would inquire from the accountant his/her legal basis in arriving at such determination and computation. In this situation, some accountants would find themselves stunned due to the lack of immediate reference to answer such inquiry.
In this seminar, the Constitutional and Civil Code provisions on labor, the concept of Social Justice, the conditions of employment as provided under Book Three of Presidential Decree No. 442, as amended or the "Labor Code of the Philippines" and other related laws will be discussed. It is aimed at providing the accountants with the basic knowledge on the legal regimes affecting their tasks of determining and computing the monetary benefits and claims of the employees in their workplace.