REGULATORY FRAMEWORK FOR BUSINESS TRANSACTIONS (RFBT) CPALE Concept Notes

REGULATORY FRAMEWORK FOR BUSINESS TRANSACTIONS (RFBT) CPALE Concept Notes SOCIAL SECURITY LAW

Topics Covered:

Eight point ten point nine. Employment Records and Reports Eight point ten point ten. Penal Clauses o Monthly contributions are remitted quarterly within the Last Day of the Month following the quarter

Three. OFWs Not More Than sixty years old (Sea and land-based)

· Contributions:

General Rule:

Treated as a Self-Employed Individual (Fully shoulders) XPN:

Mr. Mel retired on April twenty twenty-five, wherein he earned thirty thousand in the last sixty months prior to the semester of retirement. He was able to contribute monthly from nineteen eighty-four until retirement, except for the year two thousand four. Compute his total monthly pension.

Semester of Contingency January to June twenty twenty-five (Occurred April twenty twenty-five)

Credited Years of Service (CYS)

For Years up to nineteen eighty-four

For nineteen eighty-five to two thousand one (meets req.)

For Years two thousand two onwards (two thousand two to three, two thousand five to twenty-four)

Total CYS

Average Monthly Salary Credit Maximum of twenty thousand