SALARY SCHEME

-Marc Angelo Pilapil

-Aaron Garcia
-Mark Amosig
-Raine Gonzales
 SALARY SCHEME FOR THE BEST IT GRADUATE TO BE
. HIRED FOR YEAR 2019

NAME OF COMPANY: Covergenze Industries Inc.

Daily Salary - Php 900.00

Weekly Salary - Php 900.00 x 5 days = Php 4,500.00

Basic Monthly Salary - Php 900.00 x 20 days = Php 18,000.00

Rice Allowance - = Php 2,500.00

Transportation Allowance - = Php 2,000.00

Gross Compensation/Salary - = Php 22,500.00

Deductions:
SSS Personal Share - Php 72.00

Philhealth - Php 247.00

Pag-ibig Fund - Php 100.00

BIR Withholding Tax - Php 0.00

Total Deductions - Php 419.00

NET Pay = Php 22,081.00 + Overtime pay

Other Benefits:
Overtime pay - Php 100.00/hour max of 2 hours/day

Christmas Allowance - Php 6,000.00/year

13th Month pay - Php 18,000.00/year

14th Month pay - Php 18,000.00/year

Maternity/Paternity Leave - Maximum of 105 days

Scholarship Grant for Children - Maximum of 3 children to be supported

Health Insurance - Php 50,000.00/year

Date Allowance (single employee) - Php 6,000.00/year

Commuting/Travel Assistance - Php 5,000.00/month

Childcare Benefits (single parent) - Php 5,000.00/month

 SALARY COMPUTATION PER YEAR (Rate of increase 9% per annum)

YEAR 1 2 3 4 5

BASIC 22,081 x .09 24,068.29 x 26,234.4361x 28,595.5353x

SALARY = .09 = .09 = Php .09 =
(Php) Php 1,987.29 Php 2,361.09925 Php
2,166.1461 2,573.59818

= Php = Php = Php = Php = Php

22,081.00 24,068.29 26,234.4361 28,595.5353 31,169.1335
APPLICATION OF GEOMETRIC SEQUENCES

an=a1rn-1 an=22,081(1.09)n-1

EXAMPLE COMPUTATION
n= number of years FOR YEAR 5:
r= rate of increase
a5=22,081(1.09)5-1
r= 24,068.29 / a5=22,081(1.09)4
22,081.00 = 1.09 a5=22,081(1.41158161)
a5=31,169.1335
Y O U C A N D O I T

THAT’S ALL
THANK YOU

LET'S CHEERS FOR THAT