How to compute monetization of leave credits?
Question/Topic: A national government employee, SG 19 (P49,835.00) requested to monetize his 30 days leave credits. The agency Accountant certified that there is available Personnel Services allotment to cover the request and the agency head approved the payment of the same. How much will the employee receive for his monetized leave credits? Answer The formula to compute monetization of leave credits can be found in Budget Circular No. 2016-2 dated March 29, 2016 re: Computation and Funding of Terminal Leave Benefits and Monetization of Leave Credits (MLC). The formula is: MLC = S x D x CF Where: MLC =...