Year End Bonuses and Cash Gifts will Now be Distributed with the First Payroll in November 2024
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| Year End Bonuses and Cash Gifts will Now be Distributed with the First Payroll in November 2024 |
The Department of Budget and Management (DBM) has announced an important amendment to Section 6.1 of Budget Circular (BC) No. 2016-4, addressing persistent delays in the disbursement of Year-End Bonuses and Cash Gifts for government employees. Under the previous guidelines, these benefits could not be released earlier than November 15, often resulting in delays that affected employee morale, job satisfaction, and motivation.
In response to these concerns, the DBM has revised the guidelines to ensure timely delivery of bonuses. Now, the Year-End Bonus, equivalent to one month’s basic salary as of October 31, and a Cash Gift of ₱5,000 will be distributed along with the first agency payroll of November each year. This change aims to streamline the payroll process, improve efficiency, and remove internal and external causes of delays, ultimately ensuring that government personnel receive their entitled benefits on time.
Key Points of the Amendment:
- Bonuses and cash gifts will now be distributed with the first payroll in November, instead of waiting until mid-November or later.
- Streamlined payroll processes will help government agencies manage and release funds more effectively, promoting a smoother experience for both employees and payroll departments.
This amendment serves as a proactive approach to foster greater job satisfaction, morale, and productivity among government employees, and it is set to take effect immediately. The DBM’s initiative underscores its commitment to enhancing the welfare of government personnel by ensuring timely compensation and support.
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