2 weeks Medium-sized firms must pay 13th month – Bello Manilatimes
Medium business enterprises (MBEs) must pay their workers the 13th month salary because they are not considered as distressed establishments, according to Labor Secretary Silvestre Bello 3rd.
Labor Secretary Silvestre Bello 3rd. File phoro In a virtual briefing on Friday, Bello said MBEs are better off than micro and small business enterprises (MSBEs) and can afford to pay the mandatory salary. MBEs “have a capitalization of about P100 million,” he said. Some medium-sized firms were hoping to be classified as a distressed company to qualify them for government assistance. Bello said the department was considering either a cash ... more