Professional Documents
Culture Documents
Compensation
And
Benefits Guide
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.
EMPLOYEE
COMPENSATION
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.
Compensation
Workdays/Working hours
Regular workdays are Mondays through Fridays however there are some companies within the group
whose nature of business require employees to report on Saturdays, either half or whole day.
Monday Friday: forty (40) hour work-week with equivalent 262 business/working days per year
Monday Saturday (half day): forty-four (44) hour work-week with 288 business/working days per
year
Monday Saturday (whole day): forty-eight (48) hour work-week with 314 business/working days per
year
1. For employees working 5 days a week from Mondays through Fridays (8 hours excluding 1 hour lunch
break. 40 hours per week)
Example:
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.
2. For employees working 5.5 days a week from Mondays through Saturdays (half-day) ( 8 hours excluding 1
hour lunch break, 44 hours per week)
Example:
3. For employees working 6 days a week from Mondays through Saturdays ( 8 hours excluding 1 hour lunch
break, 48 hours per week)
Example:
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.
Overtime Pay
Overtime pay refers to the additional compensation for work performed beyond (8) hours of continuous work for
each day.
Coverage
All rank and file employees with a minimum overtime work of 2 hours.
Example: Using PHP 404.00 as basic daily rate and 47.75 as basic hourly rate.
In excess of 8 hours
=65.65 + 30% of (OT per hour on that day =65.65)
=65.65 + (0.3 x 65.65)
=Php 85.35 OT/hr
In excess of 8 hours
=75.75 + 30% of (OT per hour on that day = 75.75)
=75.75 + (0.3 x 75.75)
=Php 98.48 OT/hour
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.
4. Overtime pay on a regular holiday
50.5 x 2 = Php 101 OT/hour
In excess of 8 hours
=101 + 30 % of (OT per hour on that day = 101)
=101 + (0.3 x 101)
=Php 131.30 OT/hour
In excess of 8 hours
=131.30 + 30 % of (OT per hour on that day = 131.30)
=131.30 + (0.3 x 131.30)
=Php 170.69 OT/hour
It refers to the additional compensation of ten percent (10%) of an employees regular wage for each hour of work
performed between 10:00 p.m. and 6:00 a.m.
Coverage
All employers are required to pay employees thirteen-month pay, regardless of the nature of their employment and
irrespective of the methods by which their wages are paid, provided they worked for at least one (1) month during a
calendar year. By law, thirteenth-month pay is given to employees not later than December 24 of every year.
The following are automatically deducted from your salary: Withholding Tax, Premiums for Government mandated
benefits: SSS, Philhealth and PAG-IBIG.
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.
EMPLOYEE
BENEFITS
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.
GOVERNMENT MANDATED BENEFITS
The Social Security System administers social security protection to workers in the private sectors.
Benefits:
Sickness - The sickness benefit is a daily cash allowance paid for the number of days a member is unable to work
due to sickness or injury.
Disability - The new SSS Disability program is a re-designed disability program that implements the revised manual
of disability assessment. The new program adopts the World Health Organizations (WHO) definition of disability that
states as any restriction or lack (resulting from impairment) of ability to perform an activity in the manner or within the
range considered normal for a human being.
A member who suffers partial or total disability with at least one monthly contribution paid to the SSS prior
to the semester of contingency is qualified.
Retirement - It is a cash benefit either in monthly pension or lump sum paid to a member who can no longer work
due to old age.
Maternity - The maternity benefit is a daily cash allowance granted to a female member who was unable to work due
to childbirth or miscarriage.
Death and Funeral - It is a cash benefit either in monthly pension or lump sum paid to the beneficiaries of a
deceased member.
(Note: In addition to what is provided by law the company grants free funeral services and coffin to a deceased
regular employee.)
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.
PhilHealth
This program underscores the importance for government to give priority to health as a strategy for bringing about
faster economic development and improving quality of life.
Benefits:
Inpatient coverage:
PhilHealth provides subsidy for room and board, drugs and medicines, laboratories, operating room and professional
fees for confinements of not less than 24 hours. Please refer to the table of rate ceilings/maximum allowances for
inpatient coverage.
Outpatient coverage:
Day surgeries, dialysis and cancer treatment procedures such as chemotheraphy and radiotheraphy in accredited
hospitals and free-standing clinics.
Pag-IBIG/HDMF
The birth of the Home Development Mutual Fund (HDMF), more popularly known as the Pag-IBIG Fund, was an
answer to the need for a national savings program and an affordable shelter financing for the Filipino worker.
Pag-IBIG II membership under this program is voluntary. This is to give Pag-IBIG I members another savings
option that would provide them with a higher yield. Members whose monthly gross income exceeds Php 5,000 may
contribute and save a minimum of Php 500 per month.
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.
Paternity Leave
Paternity leave is granted to all married male employees in the private sector, regardless of their employment status.
The purpose of this benefit is to allow the husband to lend support to his wife during her period of recovery and/or in
nursing her newborn child.
The paternity leave shall be for seven (7) working days for the first four deliveries of the employees lawful wife with
full pay.
Solo parent leave is granted for all solo parent employees with at least one year of service whether continuous or
broken. The solo parent leave is for one (1) working day, with full pay.
The employee must present a valid Solo Parent Identification Card issued by DSWD to have an annual credit of one
day parental leave.
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.
COMPANY SPONSORED BENEFITS
Leaves
All regular and probationary employees are insured under a non-contributory Group Accidental Death and
Dismemberment Insurance Plan. The amount of insurance varies, according to the level of your position grade.
Each employee is requested to fill-up and/or update an insurance coverage form to assign their beneficiaries. Any
changes in beneficiaries must be officially enrolled with the insurance provider to take effect.
Hospitalization Insurance
All regular employees are covered under a non-contributory Health Maintenance Organization (HMO) provider while
employees will have the prerogative to enroll their dependents on their own account. The premium for dependents
will be salary deductible in equal installments for 6 months. The amount of insurance varies, according to the level of
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.
your position grade. This includes dental benefits. Dependents insurance coverage will be the same or a grade lower
than that of the principal employees. Hierarchy of dependents shall be followed.
Medical Benefits
Perfect Attendance
All regular and probationary employees are eligible for perfect attendance provided that they did not incur any late,
absences and undertime. Employee will receive Php 200 per month, Php 500 for 3 consecutive months, Php 2,000
(for 12 months straight, from December to November) with perfect attendance. Those employees with vacation
leaves filed on time are also included/eligible for perfect attendance.
Uniform
The policy applies to all regular and probationary employees. However employee with less than one year shall bear
the corresponding amortized amount of the uniform should he/she voluntarily resign from employment before
completing one year of service with the Company.
Meal Allowance
The company recognizes the needs of its junior officers (except for CF Sharp Crew Management employees in which
meal allowance is integrated to the salary) on instances when they need to render extra time beyond their regular
work schedule to accomplish certain tasks. Therefore, a meal allowance is hereby provided to compensate extra time
rendered by such employees.
Coverage
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.
Company Sponsors the following Year Round Sports and Recreational Programs
For employees to develop good camaraderie and physical fitness, the company sponsors tournaments and other
sports activities. This provides an opportunity for all employees not only to realize sportsmanship but as well as team
building.
Salary Loan
C.F. Sharp Group has an arrangement with certain banks and other accredited institutions for granting of salary loans
to qualified employees. Interest rates are lower than the prevailing industry rate.
Per Diem
The policy applies to official business/travel that shall consume at least one working day. The policy entitles all
employees of the company on official travel as assigned by appropriate managers or heads of units a per diem
and/or travel allowance.
Car Plan
Management strives to adopt the best practices in the industry where it operates. In line with this thrust, the
company shall provide and maintain a car plan for selected management positions as a tool of trade in the
furtherance of their duties and responsibilities.
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.
Retirement Plan
The aim of this plan is to provide a retirement fund to be established by the company. It is a non-contributory
retirement plan for regular employees of CF Sharp Group of Companies with at least 10 years of service. Please
refer to the table below for the vesting schedule of service and corresponding monthly basic salary that will be
credited.
15 75%
16 80%
17 85%
18 90%
19 95%
20 100%
For employee with 10 years of service and with current basic monthly salary of Php 20,000
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.
Sharp Baby
A regular employee whose legitimate child is born of normal delivery on the anniversary date of the Company
(November 23) shall be entitled to free education from primary to college. In addition, the hospital expenses shall be
shouldered by the company. However, in cases when the child is born of normal delivery nearest the anniversary
date, within a week before ( November 16-22) or after (November 24 30) the company shall then shoulder (50 %)
only the hospital expenses of both the mother and the infant. Separation of the parent from the company by reason of
his/her fault or voluntary resignation automatically cancels the privileges not yet granted.
This is CF Sharps version of celebrating trick or treat for children of CF Sharp employees with ages 12 years and
below. Children proceed in costume from each department asking for treats such as candies. Kids are also provided
with snack and will have the chance to win best in costume that best suits the theme of the party.
As a part of CF Sharp Groups Christmas celebration, all children of CF Sharp employees with ages 10 years and
below will be receiving gifts from the management as early as second week of December.
This booklet including the information herein, is confidential and proprietary to C.F. Sharp Group of Companies, and shall not be
used or reproduced for any purpose, except with the written assent of C.F. Sharp Group.