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The Labor Code of the Philippines governs employment practices and labor relations in the Philippines. It also identifies the rules and standards regarding employment such as pre-employment policies, labor conditions, wage rate, work hours, employee benefits, and termination of employees.
Article 87 of the Philippine Labor Code states that any work that exceeds eight hours is considered overtime work. This is legal provided that the employee is paid for the overtime work. The computation for the wage is his regular wage plus at least twenty-five percent (25%) of his hourly wage.
Filipinos ( Overseas Filipinos) Overseas Filipino Worker ( OFW) is a term often used to refer to Filipino migrant workers, people with Filipino citizenship who reside in another country for a limited period of employment. [3] The number of these workers was roughly 1.77 million between April and September 2020.
The Department of Labor and Employment (Filipino: Kagawaran ng Paggawa at Empleo, commonly abbreviated as DOLE) is one of the executive departments of the Philippine government mandated to formulate policies, implement programs and services, and serve as the policy-coordinating arm of the Executive Branch in the field of labor and employment.
Overtime rate is a calculation of hours worked by a worker that exceed those hours defined for a standard workweek. This rate can have different meanings in different countries and jurisdictions, depending on how that jurisdiction's labor law defines overtime.
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Labor flows in the Philippines has been determined mainly by three factors: rapid population growth, uneven development and labor oversupply and unemployment. [12] Rapid population growth has been a large contributing factor in labor migration.
The National Labor Relations Commission (Filipino: Pambansang Komisyon sa Ugnayang Paggawa, abbreviated NLRC) is a quasi-judicial agency tasked to promote and maintain industrial peace based on social justice by resolving labor and management disputes involving local and overseas workers through compulsory arbitration and alternative modes of ...
Demography of the Philippines records the human population, including its population density, ethnicity, education level, health, economic status, religious affiliations, and other aspects. The Philippines annualized population growth rate between the years 2015–2020 was 1.53%.
A graphic from the Office of the President of the Philippines showing the difference in pay between the two types of holidays. The Labor Code of the Philippines specifies two types of holidays: the "regular holiday" and the "special non-working day".
The economy saw continuous real GDP growth of at least 5% since 2012. The Philippine Stock Exchange index ended 2012 with 5,812.73 points a 32.95% growth from the 4,371.96-finish in 2011. The Philippines achieved an investment grade rating for the first time in the first quarter of 2013.