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 =...
Question: A new employee of an NGA, salary grade 11 (P25,439.00), was hired on September 5, 2022. How much is his GSIS personal share and the corresponding GSIS government share? Join the Forum Post Views: 1,037
Featured Circular What is this Circular for? Treasury Circular No. 01-2014 was issued by the Bureau of the Treasury (BTr) in 2014 to provide National Government Agencies (NGAs) with the guidelines in the re-order or purchase of Modified Disbursement System (MDS). What is Modified Disbursement System (MDS)?Modified Disbursement System (MDS) is a disbursement system implemented to facilitate effective cash management of the national government’s cash resources whereby NGAs/BTr for GOCCs and LGUs settle their payables either through the issuance of checks or direct credit to the bank account of the supplier/contractor/consultant, chargeable against the account of the Treasurer of the...
Dear GABOTAF, Hi. Ask ko lang po kasi sa barangay po namin may bagong SK Chairman and SK Treasurer. Ano po yun magrerenew na lang po ba sila ng bond o mag-aapply po ng panibago? ••• ••• Dear, Sender:While the following information were lifted from Treasury Circular No. 02-2009 or the Revised Omnibus Regulations Governing the Fidelity Bonding of Accountable Public Officers pursuant to the Public Bonding Law, it is still wise for you to clarify these from the Bureau of the Treasury (BTr). 💡 An approved fidelity bond is non-transferable and personal to the accountable officer. 💡 The approved...
Dear GABOTAF, May I ask if who is responsible in the updating of the BIR Registration of Newly Hired Employees? Is it the HR Office or Accounting Office? ••• ••• Hi, Sender:Our knowledge on this matter is limited but here’s what we found on BIR’s website:• According to Revenue Memorandum Order (RMO) No. 37-2019, employers need to secure the tax identification number (TIN) of their new employees within 10 days from the start of employment.• However, we have not seen from the above revenue regulation who from the employer should secure the TIN of the new employee, whether the Accounting...
Let’s us test how well do you know your IUEEU also known as the five (5) forbidden expenses in the government. Answer the following questions by clicking/choosing the correct answer. Tell us in the comments section below how many did you get correctly. You may now begin. Congratulations! Your score is shown above. Scroll up a bit if you cannot see it on your screen. This quiz is based on Commission on Audit (COA) Circular No. 2012-003 dated October 29, 2012 re: Updated Guidelines on the Prevention and Disallowance of Irregular, Unnecessary, Excessive, Extravagant and Unconsionable (IUEEU) ExpendituresTo learn more...
Watch 📚 Legal Basis Below are the existing legal bases for the grant of year end bonus to government employees: Budget Circular No. 2016-4 dated April 28, 2016 — Updated Rules and Regulations on the Grant of the Year End Bonus and Cash Gift for FY 2016 and Years Thereafter Pertinent provision of the CY 2022 General Appropriations Act Executive Order No. 201, s. 2016 — Modifying the Salary Schedule for Civilian Government Personnel and Authorizing the Grant of Additional Benefits for Both Civilian and Military and Uniformed Personnel ••• [ad_1] ••• What is year end bonus? Year End Bonus...
📚 Legal Basis Below are the existing legal bases for the grant of cash gift to government employees: Budget Circular No. 2016-4 dated April 28, 2016 — Updated Rules and Regulations on the Grant of the Year End Bonus and Cash Gift for FY 2016 and Years Thereafter Pertinent provision of the CY 2022 General Appropriations Act Executive Order No. 201, s. 2016 — Modifying the Salary Schedule for Civilian Government Personnel and Authorizing the Grant of Additional Benefits for Both Civilian and Military and Uniformed Personnel ••• [ad_1] ••• What is cash gift? Cash gift is a monetary benefit...
