(Article published in the Personnel Management Association of the Philippines [PMAP] IR Focus. Reprinted with permission from the author, Atty. Fred Pamaos.)

We celebrate holidays to commemorate an event or a person of special significance to the country. While the declaration of holidays is supposed to bring unity, it sometimes results to confusion in the workplace, even if unintended.

What is 13th month pay?

It is a form of monetary assistance equivalent to the monthly basic compensation received by an employee, computed pro-rata according to the number of months within a year that an employee has rendered service to an employer (basic monthly pay/12 x number of months actually worked).

The risk of damage to properties and businesses is the reason why some Pinoy Entrepreneurs secure an insurance coverage. There are unforseen contingencies, while remote from happening, that could seriously cripple the business by the loss of inventory, equipment and, in the final analysis, precious capital.

The recent flooding recently caused by the heavy rainfall brought by Typhoons Ondoy and Pepeng has caused tremendous damage to life and property. Many businesses have been seriously affected. While some establishments are fortunate to have been covered by insurance, the rest must shoulder their own damage, either because they have no insurance or their policies don't cover losses caused by floods.