 How will be my end-of-service bonus in the new minimum wage, 2021? Hi guys, Meks from the next creation. Welcome back to my channel. Thank you for subscribing. Thank you for coming back to my channel. Those that are not subscribed, consider subscribing. Press the notification icon below. You will be the first to know when I upload a new video. The minimum wage 2021, we are still talking about the minimum wage. Things that you should know about the minimum wage. And we are trying to discuss the old aspects, the old small aspects of the minimum wage. And this is what we are talking about today. How will my end-of-service bonus be calculated by my company using the minimum wage 2021? That is the question most people have asked. That is the question that most people have not gotten answers to. Welcome to my channel. I am here to give you the right answers. The minimum wage 2021, everything you should know about the minimum wage. When we look at the end-of-service bonus, sometimes it's called the gratitude. End-of-service bonus, it is stipulated in the low. It is a given amount of money that is stipulated by low. Your company is supposed to give you at the end of your term of service. What are we talking about? If you are either a domestic worker, all employees are entitled to end-of-service bonus. Remember, when we talk about the minimum wage, when it was stipulated, we talk about article 72 of the labor law that talks about the new minimum wage. It included all the workers, including the domestic workers. When we talk about the domestic workers, maybe you know what I'm talking about. I'm talking about the people doing domestic housework. Those doing house drivers, they do all sorts of work. They are apart of the new minimum wage low of 2021. They are also entitled to the basic salary of 1000 as per the new low in the stipulation. Article 72 of the labor law. End-of-service bonus, when we talk about end-of-service bonus, we are actually looking at that money that your company is supposed to pay you at the end of your service. This service, depending on the agreed contract with your company, it can either be 2 years or it can even be 5 years or it can even be 10 years, depending on what mutual understanding you had with your company from the start. That mutual understanding is normally by the signing of the contract between the employee and the employer. For those that signed your contract, just remember well how many years you signed with your company or how many years you signed in your contract with your company. It is quite very important. So when we talk about the end-of-service bonus, which is sometimes referred to as what we call gratitude, how gratitude is calculated, how gratitude is calculated, it will depend on how many years or how much time you've spent with the company. When we go back to the clause that you signed with the company and that is the mutual understanding between which was governed by the contract that you signed on arrival or on your first day when you got your visa. So what I have to give you a hint, what I have to tell you is that if you've spent your company, if you've spent 2 years with your company, your end-of-service bonus will be calculated using 3 weeks of your salary. Then if you've spent with the company for 5 years and above, your end-of-service bonus will be calculated using the 4 weeks of your salary. What am I talking about guys? Just get it and note it guys. What you should know that if your basic salary is higher, then your end-of-term bonus will also be higher. If your basic salary is lower, your end-of-term bonus will also be lower. How does it come and how is it calculated? If you have a higher basic salary, let's say for example right now we take the new minimum wage 2021, your basic salary is 1000, your food allowance is 300 and your housing allowance is 500. So you have a total of 1800 for 8 hours duty. That is in case your employer does not provide for you food and does not give you accommodation. So you will have your minimum salary which will be 1800 for 8 hours. And if your company provides accommodation for you, that means when you get the basic salary which is 1000, you add the 300 for food, then your minimum salary for one month for 8 hours worked it will be 1300. But remember we have a situation whereby you are both given food and accommodation. That means you will be entitled to only 1000 basic salary for 8 hours and that will be your minimum wage for that month. But remember all these calculations we are talking about they do not include the overtime, they do not include the day of pay, they do not include the public holiday or what you call a national day pay. It is strictly for the 8 hours. So what I have to let you know, someone asked me a question that is what I am trying to explain. If you can allow me to read you the question, the question was saying how will my end of service gratitude be calculated? If your contract ends after the minimum wage was introduced, that means your gratitude or your end of bonus will be calculated basing on the old contract. What am I talking about? Remember this minimum wage law came into effect March 2021. So for those that ended their contracts with their companies depending on how many years they go to sign, before March 21 they were only entitled to gratuity calculation according to the old contract. But if you have a new contract that came into effect and your basic salary is 1000, remember it will just be automatically collected to the new basic salary. If you have not subscribed please consider subscribing as we tend to discuss, we tend to break out the small impotent items you should know about the minimum wage. Thank you for watching. Subscribe to my channel. Put a comment below, I'll be getting back to you. Share it to a friend so that we all get to benefit.