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8/4/2019 4. Management Plan
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MANAGEMENT
PLAN
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BACKGROUND AND PRIMARY RESPONSIBILITIES OF THE MANAGEMENT TEAM
The Management Team
The management team of Prime Transformer Inc. is composed of five (5)
personnel. The compositions of the team responsible for the management of the
operation are the following people with their specific job description:
POSITION JOB DESCRIPTION JOB SPECIFICATION
Manager Establish goals and objectives of the
organization and ensures the delivery
according to the business plan. Manage the performance of the
organizations staff and senior
management.
Analyze organizations performance for the
stated objectives.
Develop an operational plan such as
procurement, assembly, service support,
and contract manufacturing, for the growth
and launch of the organizations products.
Define the product sales & marketing plan,
and supervising sales and distribution of a
product.
Identify, evaluate, and select optimal
contract manufacturing, services, and
assembly partners.
Develop a market customer and entry
acquisition strategy, designing, and
building a service and sales capability.
Bachelors degree in
Business Management
related field. Have knowledge of
management principles.
Have knowledge of
sales and marketing
principles.
Have possessing
confidence, experience,
and skills to support
organizational activities.
Can manage conflicting
interests of business
partners.
Good communicator,
active listener, and
possess strong
decision-making skills.
Good team player.
Assistant Responsible for the tasks delegated by the Bachelors degree in
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Manager manager.
Serves as the manager whenever the real
manager is not available.
Must keep the manager updated all the
time especially when the manager is not
around the office.
Serves as the overseer of the workplace in
order to maintain the smooth operations of
the office.
management.
Have leadership skills.
Have communication
skills.
Smart and active.
Accountant Compute taxes which are owed by the
company and prepare tax return.
Analyze the budget.
Modify and maintain different accounting
and record keeping systems with the help
of computer technology.
Advising the management board about
financial issues.
Investigate the reason of bankruptcy if any.
Bachelors degree in
accountancy.
Certified Public
Accountant
Have exceptionally
mathematical skills.
Have strong
communication skills-
both written and oral.
Have critical thinkingability.
Effective decision
maker.
Responsible and
analytical bent of mind.
Clerk Maintain confidentiality of papers and
documents of the business or organization.
Perform basic office duties such as
answering the telephone, direct calls,
emails and fax.
Participate on tasks requiring added
assistance and help the office secretary if
College diploma
Skilled in data entry
Ability to work under
pressure
Superior computer skills
Proficient working in
Microsoft Office.
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needed.
Make accurate reports and effectively
present it to anyone who needs it.
In charge of some important documents or
records and store them for the utilization of
the bookkeeping department.
Train other co-workers to perform a better
work by using computer applications to
make their job easy and maintain
efficiency of the office procedures.
Cooperate with co-workers to maintain a
friendly environment and proper interaction
within the office.
In charge of copying and duplication of
manuscripts, letters, documents or other
materials on the photocopying machines.
Responsible for the operation and
maintenance of office machines such as
computers, fax machines and
photocopying machines.
Make travel arrangements for their boss
and set up the most convenient time for
the appointments.
Attend meetings regarding the companys
agenda and transcribe those messages for
record keeping. Take inventory of the equipment and other
supplies for easier monitoring.
Help secretaries in preparing invoices and
budgets for the business.
Make reports about the current standing of
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the business and prepare the necessary
documents for the presentation.
Direct and supervise tasks handled by
lower-level clerks.
.
HR Manager Responsible for interviewing of applicants
for the Company
Liable for interpreting the characteristics
and behaviors of each staff.
Identify and evaluate the upcoming
deserving applicants
Female, graduate
of BS Psychology
or HRDM Major
2-3 years of
experience
Know how to
interview qualified
applicants
Proficient both in
English and Filipino
(written and oral)
Honest and
Hardworking
ORGANIZATIONAL STRUCTURE
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As a service provider, the organizational structure of the business is a
FLAT STRUCTURE basis. Wherein the flat structure has two levels with a wide
span, this structure permits the general supervision of the manager to its
subordinates and in this kind of structure; communication between manager and
subordinates is much easier.
Figure 5.1 Organizational Structure
Security Guards, Utility Clerk are hired from agencies, the advantage of this is
the Company is not the one who will give trainings, benefits to them, and also the
agency will give the salaries and wages of Security Guards and Utility Clerks.
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Board of Directors
The Board of Directors have the rights and powers over the corporation.
The following are the Board of Directors of Prime Transformer Inc.
Ownership
Prime transformer incorporated has an authorized capital stock of one
hundred fifty million pesos (Php 150,000,000.00) in lawful money of the
Philippines, with the par value of one hundred pesos (php 100.00) per share. The
subscribers are Lloyd Tanglao, Peter Sheen Vicera, Christian Bernard Uy, Aiko
Pajanel, Mardie Mesina, Jennpril Marcos, Mark Sheem Kiseo, Jade Serrano.
The following person have subsribed for the amount of the capital stock.
52
Name Address Citizenship
Tanglao, Lloyd Pasong Tamo, Quezon City Filipino
Vicera, Peter Sheen St. John, New Era Quezon City FilipinoUy, Christian Bernard Talipapa, Caloocan City Filipino
Mesina, Mardie New Era Quezon City Filipino
Serrano, Jade Village 4, Valenzuela City Filipino
Pajanel, AikoINC Compound New Era Quezon
CityFilipino
Marcos, Jennpril Guadalupe, Nuevo Makati City FilipinoKiseo, Mark Sheem Kabayanan, San Juan City Filipino
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NameSubscribe
No. of share
Amount of
subscriptionPaid in capital
% of
ownershi
Lloyd Tanglao 300,000 30,000,000 30,000,000 20%Peter Sheen Vicera 300,000 30,000,000 30,000,000 20%
Christian Bernard Uy 240,000 24,000,000 24,000,000 16%
Mardie Mesina 240,000 24,000,000 24,000,000 16%
Jade Serrano 150,000 15,000,000 15,000,000 10%
Aiko Pajanel 150,000 15,000,000 15,000,000 10%
Jennpril Marcos 60,000 6,000,000 12,000,000 4%
Mark Sheem Kiseo 60,000 6,000,000 12,000,000 4%
TOTAL 1,500,000 P150,000,000 P150,000,000 100%
Personnel
Credit Investigation Department
POSITION JOB DESCRIPTION JOB SPECIFICATION
Loan Officer Process and approve loan applications
within certain limits, above which the
application is referred to a higher approving
authority.
Advice loan applicants of all documentary
requirements in the loan application.
Check and ensure that all loan application
submission are in order and proceeds to
process the loan as per banks loan policies.
Explain to prospective borrowers the loan
application requirements as well as the
Bachelors degree
equivalent bank experien
not less than five years
commercial lending and
least two years supervis
experience, having gradu
studies at a recognized sch
of banking is preferred.
Have ability to resolve uni
and complex issues w
limited manager assistance
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various loan products, interest charges,
processing fees, penalty charges and
payment term options available.
Analyze applicants financial situation,
stability of income sources, credit standing
and outstanding credit debts, payment
records with previous loans if any and
property ownership and other acceptance
criteria before approving the loan.
Participate in management meeting to
gauge market perception on the companys
responsiveness to market loan demands
prior to designing its loan products.
Work with clients in settling loan
delinquencies and accept negotiated
settlement or send delinquent accounts to
collection agencies.
Coordinate with bank lawyers to initiate
court proceedings for garnishment of
property collateralized in the delinquent
loans.
Solid understanding
regulatory compliance iss
related to lending.
Strong customer service
supervisory knowledge.
Expert in lending practices
include: loan documentat
perfection of security inter
lines of credit, finan
statement analysis, cash f
analysis, regula
compliance and confidentia
practices.
Have ability to read
analyze complex finan
statement.
Have ability to make lend
decisions.
Aggressive, proac
approach to providing y
customers the best bank
and lending products availa
Management experience (
will lead a team of
commercial lenders).
Credit
Investigator
Conduct low profile site investigations under
credit investigation
Investigate suspicion of embezzlement in
job applicants,
Coordinate with local authorities to recover
damages awarded by a court in theft or
A degree in accounting i
must while a post gradu
course in busin
administration
management or a rela
experience in ano
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fraud cases.
Assist corporate clients in due diligence
work to determine true value of stocks or
corporate assets and provide financial
profiles of organizations related to
prospective acquisitions or mergers.
Assist the internal auditor in assessing cash
disbursements
Maintain records of investigation profiles
with the utmost confidentiality, data integrity,
and security.
company is an employme
edge.
Must have an eye
computational details with
high level of accuracy
evaluating financial reco
and documents.
Must exhibit h
organizational skills.
Must have high level
patience to delve into dee
levels of analysis.
Must be able to work un
high pressure, long work ho
and comply with deadlines.
Must have str
communication
interpersonal skills to inte
with high level decis
makers.
Appraiser Estimate parts and labor to repair
damage, using standard automotive labor
and parts cost manuals and knowledge of
automotive repair.
Review repair costs estimates with
automobile repair shops to secure
agreement on cost of repairs.
Examine damaged vehicles to
determine extent structural, body,
mechanical, electrical, or interior damage.
Evaluate practicality of repair as
Bachelor of Scie
Degree from accred
institution.
Have skill to manage t
time and the time of others
are part of their department.
Have ability to listen
and understand informa
and ideas presented thro
spoken words and sentence
Able to use logic
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opposed to payment of market value of
vehicle before accident.
Must determine salvage value on total
loss vehicles.
Prepare insurance forms to indicate
repair cost estimates and
recommendations.
Arrange to have damage appraised by
another appraiser to resolve disagreement
with shop on repair cost.
Knowledge requirements for the auto
insurance.
reasoning to identify
strengths and weaknesses
alternative solutio
conclusions or approaches
problems.
Have skill to actively l
for ways to help their clie
as well as, keeping a bud
for the company.
Needs to be able to
the power of persuasion
times in order to achieve t
goals.
Have ability
communicate information
ideas in speaking so others
understand.
Sources:http://www.thejobexplorer.com
http://www.samplejobdescriptions.orghttp://www.bestjobdescriptions.com
Compensation Package
Salaries and Wages
Position No. of Employee Monthly Salary Annual Salary
Manager 1 P 50, 000.00 P 600, 000.00Assistant Manager 1 P 30, 000.00 P 360, 000.00Accountant 1 P 30, 000.00 P 360, 000.00Human Resource Manager 1 P 30,000.00 P 360,000.00Credit Investigator 1 P 20, 000.00 P 240, 000.00Appraiser 1 P 20, 000.00 P 240, 000.00Loan Officer 1 P 20, 000.00 P 240, 000.00
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http://www.thejobexplorer.com/http://www.samplejobdescriptions.org/http://www.bestjobdescriptions.com/http://www.samplejobdescriptions.org/http://www.bestjobdescriptions.com/http://www.thejobexplorer.com/8/4/2019 4. Management Plan
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Clerks 5 P 15, 000.00 P 900, 000.00Security Guards 2 P 11, 000.00 P 264, 000.00Utility 2 P 11, 000.00 P 264, 000.00Total 16 P 237, 000.00 P 3,828, 000.00
Note: The salaries and wages of an employee are not yet deducted by any taxes.See the salaries and wages deduction table.
Employment Rights, Restrictions and Policies
I. Rationale
Financing company depends to large extent of teamwork, excellent
service and maintenance of the trust and confidence of its clients. To
maintain an atmosphere conducive to productive work, it is necessary
that order and discipline be kept in the work place. Likewise, to
maintain the patronage of our clients, employees should provide
excellent service and conduct themselves beyond reproach.
This Rules of Conduct therefore, have been issued to promote
discipline, encourage excellent service, and discourage conduct
detrimental to customer trust and confidence.
II. Types of Offenses
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A. Minor Offenses
1. Violation of Financing Companys policy/ies or office order(s), or
guideline(s) or personnel circular(s) or memorandum on hours
of work or coffee-snack break periods or attendance monitoring.
Examples by way illustration, but not limited to:
a. Failure to log/register in or out on the Biometric System,
Branch Time Keeping System or My time System.
b. Extending snack/office breaks beyond the allowed time.
2. Tardiness describe in the Financing Companys office order(s),
or policy or guideline(s) or personnel circular(s) or memoranda
as a minor offense.
3. Failure to wear the prescribe uniform or attire in accordance
with office order(s), or guideline(s) or personnel circular(s) or
memoranda.
4. Failure to wear the prescribed Financing Company identification
card while in the premises of the Financing Company.
5. Loafing or loitering in places other than ones work station
during office hours.
6. Repeatedly receiving personal visitors during office hours.
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B. Less Serious offenses
1. Tardiness described in the Financing Companys office order(s),
policy, guideline(s), personnel circular(s) or memoranda as a
less serious offense.
2. Vending or peddling or engaging in personal business within the
Financing Companys premises irrespective of whether any part
of the business or transaction is carried outside the Financing
Companys premises.
3. Unauthorized use of the Financing Companys equipment or
vehicles.
4. Any violation of the Financing Companys established
procedures in handling transactions which do not result in
damage or loss to the Financing Company or its clients.
C. Serious Offenses
1. Absences from work without official leave (AWOL0 or
permission of superiors.
2. Misconduct or misbehavior.
Examples by way of illustration, but not limited to:
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a. Inflicting or attempting to inflict bodily harm or fighting with
any person within the Financing Companys premises, or
outside the Financing Companys premises while the
employee is in the course of performing his duties.
b. Mischief or horseplay resulting to injury or death or persons
within the Financing Companys premises or outside of the
Financing Companys premises while the employee is in the
course of performing his duties.
c. Damaging or destroying, whether intentionally or
unintentionally, the Financing Companys property, or any
other persons property within the Financing Companys
premises, or any other persons property located outside the
Financing Companys premises while the employee is in the
course of performing his duties.
d. Disclosure to any unauthorized person of confidential
information in violation of the secrecy of Deposit Act (RA
1405), of Sec. 87-A of the Ra 337 or any other privileged
communication.
e. Violation of Computer Use Policy.
f. Starting or relaying rumors prejudicial to the interests of the
Financing Company, its staff, its officers or its clients.
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g. Rudeness, arrogance, discourtesy, in speech or behavior
toward Financing Company clients.
h. Causing a commotion or disturbance within the Financing
Companys premises or outside the financing Companys
premises if the commotion or disturbance tends to cause a
disruption of the operations of the Financing Company.
i. Gambling within the Financing Companys premises.
3. Dishonesty
Examples by way of illustration, but not limited to:
a. Making any false entry in, or tampering with any entry in
ones time card or daily time record, or in the overtime
authorization slip.
b. Allowing others to fill in, or log ones ID card in the Biometric
System or Branch Timekeeping System, swiping in or out
or registering in or out for another employee.
c. Malingering, or claiming to be sick to avail of sick leave
benefits, when in fact the employee is not sick.
d. Robbery, or theft, or attempted robbery, or attempted theft,
committed against the Financing Company, or its officers, or
its employees, or its clients.
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e. Estafa or any fraud committed against the Financing
Company, or its officers, or its employees, or its clients.
f. Misrepresentations or falsification of personal data or
records or status or health or qualification to gain
employment with the Financing Company.
g. Making false money claims or making any misrepresentation
to claim benefits from the Financing Company.
h. Falsification or unauthorized alteration of records or
documents of the Financing Company.
4. Soliciting money or other valuable consideration from clients or
suppliers of the Financing Company, for personal gain.
5. Borrowing money from clients or repeatedly borrowing from or
lending to Financing Company officers and employees.
6. Accepting employment other than with the Financing Company
without securing the Financing Companys approval.
7. Insubordination
Examples by way of illustration, but not limited to:
a. Disobedience to lawful order of ones superior.
b. Refusal to perform duties with the Financing Company
assigned by ones superior.
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c. Disrespect by work or deed to any superior.
8. Holding or attending a meeting or activity on Financing
Company premises not authorized by the Financing Company.
9. Inciting to participate, or participating in an illegal strike, or any
illegal concerted action or slow down against the Financing
Company.
10.Abuse of authority of officers for personal gain or advantage.
11.Negligence of duty.
Examples by way of illustration, but not limited to:
a. Withholding of information from superiors or any
representative of management, or failure to immediately
report to such any violation of policy, or procedure, or any
anomaly or irregularity coming from the employees
knowledge which result in loss or damage to the Financing
Company.
b. Failure to inform superiors or higher authority of any
solicitation, inducement or illegal order of a superior to
violate the Financing Companys rules, procedures or
policies.
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c. Any violation of the Financing Companys established
procedures in handling transactions or work assignments
which results in loss to the Financing Company clients.
d. Losing or misplacing Financing Companys
records/documents or records/documents of clients which
may cause loss to the Financing Company.
12.Taking alcoholic beverages or intoxicating liquor or possession
of prohibited drugs or taking or selling or inducing other persons
to take prohibited drugs within the Financing Companys
premises, or reporting to work while intoxicated or under the
influence of alcohol or prohibited drugs.
13.Conviction of a crime for which the penalty is imprisonment.
14.Violation of the Financing Companys rules and policies on
security and safety.
Examples by way of illustration, but not limited to:
a. Failure or refusal to obey orders or directions or fire or safety
officers during emergencies.
b. Carrying of explosives or fire arms or other deadly weapons
into the Financing Companys premises, without
authorization from the Financing Company.
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c. Entering any restricted area of the Financing Company
without the permission of the authorization officers.
15.Immorality, or carrying on an illicit relationship or engaging in
indecent behavior.
16.Committing any act or offense which constitutes just cause for
termination from employment under the Labor Code or pertinent
regulations.
The cited examples of minor, less serious or serious offenses
are not intended as an exclusive enumeration. Other acts or
offense not cited in the examples shall be subject to the
penalties or offenses analogous thereto.
III. Due Process
Due process shall be accorded to any officer or employee charged with
violating the Rules of Conduct.
IV. Authorities to Impose Disciplinary Actions
A. Minor Offenses Immediate superior of the erring officer/employee.
The Brach Manager/ Department Head of the erring employee shall
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be the authority to impose the disciplinary action if the penalty to be
imposed is suspension or termination.
B. Less Serious Offenses Branch Manager or Department Head of
the erring officer or employee.
C. Serious Offenses Group Head or Senior Supervising Officer of
the erring officer or employee.
All decisions imposing the penalty of suspension or termination
shall be subject to review by the Financing Companys Human
Resource Committee, which may affirm, reverse or modify the
same
V. Penalties
For Minor Offenses
1st Offense - Written reminder
2nd Offense - Written Reprimand
3rd Offense - Written reprimand with Warning of
Suspension
4th Offense - Suspension for three (3) days
5th Offense - Suspension for four (4) days
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6th Offense - Suspension for five (5) days
7th Offense - Suspension for six (6) days
8th Offense - Suspension for seven (7) days
9th Offense - Suspension for eight (8) days
10th Offense - Suspension for nine (9) days with
warning of termination
11th Offense - Termination
For Less Serious Offenses
1st Offense - Written Reprimand with Warning of
Suspension
2nd Offense - Suspension for three (3) days
3rd Offense - Suspension for five (5) days
4th Offense - Suspension for seven (7) days
5th Offense - Suspension for nine (9) days with
warning of termination
6th Offense - Termination
For Serious Offenses
Suspension or Termination
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The penalties mentioned in the Rules of Conduct shall be in
addition to any civil or criminal liability resulting from the offense and
shall not preclude the institution of any other court action.
VI. Nature of Penalties
A. Reminder
A written reminder calling the attention of the erring
employee to the violation is issued to the employee. The violation is
discussed with the employee and solutions are determined to avoid
a repetition of the violation.
B. Written Reprimand
The erring employee is given a written admonition that the
commission of the same or another offense will be dealt with more
severely.
C. Warning of Suspension
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The erring employee is given a written admonition that the
commission of the same or another offense will merit a suspension.
D. Suspension
The erring employee is barred from work for the stated
number of workdays without pay and benefits.
E. Termination
Dismissal from the Financing Company with forfeiture of all
benefits.
VII. Other Effects of Penalties
Employee penalized with suspension shall not be eligible for
any merit increase, or promotion for a period of one (1) year from
date of serving the penalty. Serving any of the penalties mentioned
in this Rules of Conduct does not extinguish the civil or criminal
liability resulting from the offense.
VIII. Management Prerogatives
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Management, in the exercise of its prerogative, may add, delete,
amend or revise this Rules of Conduct from time to time as it may
deem fit and proper.
Penalties for other offense not included in the Rules of Conduct
shall be set down by Management on a case to case basis and once
issued the same shall become an integral part of these Rules.
Provisions of office orders, policies, guidelines and work rules not
inconsistent herewith shall supplement these Rules.
Non-enforcement of the provision of these rules of conduct or any
leniency granted by the Financing Company to any officer or employee
shall not be considered as a consideration of the offense or a waiver of
the Financing Companys prerogative to enforce the appropriate
penalty later.
IX. Separability Clause
If any portion of this Rules of Conduct should be declared illegal or
unenforceable by competent authority, the other parts on provisions
not so declared shall remain valid and enforceable.
The prime Transformer Inc. provides its employees with numerous benefits
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some of which are listed here under
LEAVE PRIVILEGE
A. Vacation Leave
A permanent employee is entitled to a yearly vacation leave of at least
fifteen (15) working days earned at rate of 1.25 days per month.
All application for vacation leave should be approved by
department/branch head prior availment.
The unused vacation leave credits for rank and file employees shall
converted to cash not later than January 31 of the following year. Unused
vacation leave credits are also encashed upon resignation, provided you
filed the required 30-day notice prior to resignation and are cleared of all
accountabilities.
B. Sick Leave
Permanent employees are also entitled to fifteen (15) days sick leave
credits every year earned also the rate of 1.25 days per month. You
should, however, inform your Department/ Branch Head not later than the
first hour of the workday if you cannot report for work due to illness. You
will be required to submit a doctor's certificate if you are absent from work
due to illness for more than five (5) days. Sick leave credits may not be
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utilized for purposes other than illness
Accumulative sick leave credits exceeding thirty (30) working days shall
converted to cash not later than 31st day of January of the following year.
Upon resignation, all unused sick leaves will also convert to cash provided
you filed the required 30-day notice prior to resignation and are cleared of
all accountabilities.
Emergency Leave
Permanent employees may avail of the emergency leaves of seven (7)
days which shall be non- cumulative and non-commutable, provided such
leaves shall not be granted in excess of six (6) days for any single
purposes.
1. destruction of dwelling due to fire, earth quake, typhoon, flood,
or lahar:
2. sickness of immediate family member (i.e. parent, child or
spouse, or within the first degree of consanguinity, declared
guardian or an unmarried dependent brother/sister below 21
years old where the covered employee is the head of the
family), requiring the personal presence of the employee.
3. Upon declaration of typhoon signal #3 by PAG-ASA in affected
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work place declared residence and related areas only :
4. Impassable/ flooded street going to the financing company as
recommended by the Branch / Department Head and confirmed
by the Branch group head / Human Resources Department.
5. Declared general transportation strike in affected workplace,
declared residence and related areas only;
6. Quarantine leave (as per DOH guidelines) in affected work
place, de4clared residence and related areas only;
7. In case of robbery, if supported by an authenticated police
report.
D. Maternity Leave / Maternity Assistance
All female employees are entitled to a maternity leave with pay of sixty
(60) calendar days for normal delivery and seventy eight (78) calendar
days for deliveries by caesarean section for the first for the first four (4)
pregnancies only. Once you learned that you are pregnant, you should
inform HRD and you will be guided on how to submit SSS Maternity
Notification Form.
Maternity assistance also be given to covered female employees first four
(4) legitimate children
The maternity leave and maternity assistance is also given in case of
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miscarriages
E. Paternity Leave / Paternity Assistance
A married employee may avail of eight (8) working days paternity leave
with pay, subject to guidelines of R.A. 8187, each year his legitimate wife
gives birth, for the first (4) deliveries. A paternity assistance shall also be
given to permanent male employees for the first (4) legitimate children.
F. Solo parent Leave
An employee who has been with the financing company for at least (1)
year and who is single parent, as defined under R.A. 8972, shall also be
entitled to seven (7) days leave with pay. In order to avail of this benefit,
however, the employee has to provide HRD with a copy of his/her single
parent identification card issued by the Department of Social Welfare and
Development (DSWD).
The Solo Parent Leave is non-cumulative and not convertible to cash.
Availment shall be similar to vacation leaves and requires prior approval
from the appropriate Department / Branch Head.
G. Study Leave
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The Financing Company may give consideration to employees, who in
relation to his work, need to take professional accreditation examinations
or to prepare for comprehensive tests which would lead to a Masteral
Degree, or completion / defense of post graduate dissertations.
Employees may be allowed up to one hundred twenty (120) calendar days
leave without pay as Study Leave. The Financing Company reserves right
to disapprove the request if such will hamper efficient operations of the
Financing Company.
To avail of the benefit, a written request duly endorsed by your Department
/ Branch Head should be presented to Human Resources Committee
(HRCOM) for approval.
Upon returning to work, the employee must present a certification of
completion to HRD.
H. Birthday Leave
All regular employees are entitled to one (1) day employees birthday falls
on non-working day or if the employee so request, he may enjoy the
birthday leave on another date mutually agreed upon by the Financing
Company to work on his actual Birthday, he shall be compensated with
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overtime pay in accordance with the policies on overtime. In this case, it is
understood that he is no longer entitled to a birthday leave.
I. Wedding Leave
All unmarried regular employees shall be entitled to a one (1) day wedding
leave to be used on the day of employees wedding date. The wedding
leave may be availed of only once during the employees employment with
the financing company and is non-cumulative and non- commutable.
J. Bereavement Leave
All regular employees shall be given three (3) days bereavement each
year. The Bereavement leave is applicable for the death of a relative
up to third degree of consanguinity, second degree of affinity and declared
guardian only.
OVERTIME, HOLIDAYS AND REST PAY DAY
Rank and file employees enjoy a significantly higher premium pay for work
done during rest of the days and holidays than that provided under the
Labor Code.
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Overtime pay premium shall also be given in the following situations: 1.
when an employee is asked to stay and work during days of calamity
(such as typhoon or floods) and after announcement of no work day by
the Financing Company or by the national government and 2. When an
employee is required, in writing, to attend seminars, workshops meetings,
or other activities related to regular administrative and operational
functions of the Financing Company on non-working days.
NIGHT DIFFERENTIAL
All regular employees who perform work from 10pm to 6am shall be
entitled to 25% night differential pay based on their hourly rate.
SPECIAL ALLOWANCES
A. Shoe allowance
The Financing Company shall grant an allowance to all permanent
Credit Investigators, Appraisers, Document assistance, Roving Tellers,
Armoured Car Drivers and Messengers/Janitors to help defray the cost
of footwear considering the nature of their job and the frequency of
their field assignments. This allowance shall be released in advance
and availment shall be subjects to Financing Company guidelines.
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B. Tellers Allowance
In order to cover any shortages that may occur, all tellers (including
roving tellers and relievers) shall be given Tellers Allowances. The said
allowances shall be given annually even when the teller is on leave
except when such teller is on leave without pay.
C. Hazards Pay
In view of the responsibilities and risks shouldered by personnel
assigned to armoured cars, a monthly cash premium is given to
armoured car drivers and Roving Tellers, Any other employee who
shall also be given hazard pay.
D. Overtime Meal / Transportations Allowances
The Financing Company shall grant an overtime meal allowance for
overtime work of at least an aggregate of three (3) hours per regular
working day and an aggregate of four (4) hours on a non- working day.
The Financing Company provides an overtime transportations
allowance for overtime work of an aggregate of at least three (3) hours
on a regular working day provided that the overtime is until 8:30 p.m.
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However, employees who are required to work on rest days and
holidays shall also be given overtime transportation allowance
regardless of the number of hours of overtime rendered.
BONUSES
A. Mid-year Bonus
Rank and File employees, who are classified as permanent as of April
30, shall be entitled to a midyear bonuses equivalent to one (1) month
basic salary payable in May.
B. Christmas Bonus & Thirteenth Month Pay
Rank and File employees who are classified as permanent as of
October 31, shall be entitled to a Christmas Bonus & Thirteenth Month
Pay equivalent top two (2) months basic salary payable in November.
C. Special Bonus
The Financing Company also provides a special bonus to each
permanent rank and file employee equivalent to 75% of your monthly
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basic salary payable on the 23rd of January of each year.
OTHER BENEFITS
A. Life Insurance
Upon permanency, employees are covered by Group Life with Accident
Death and Dismemberment Insurance Plan.
The Financing Companys Insurance plan is non-contributory; meaning
the total premium payments for the insurance plan is paid for by the
Financing Company.
B. Hospitalization, Medical, Dental and Optical Allowance
The Financing Company shall provide all employees with coverage
from a republic Health Maintenance Organization (HMO). For rank and
file employees, they shall be covered with the basic medical and
hospitalization plan (private room) at no cost to the employee.
C. Rice Subsidy
The Financing Company also provides a monthly rice subsidy to its
permanent employees.
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D. Salary Loan
Subject to the Bangko Sentral ng Pilipinas rules and regulations and
the Financing Companys existing procedures, a permanent employee
may avail of salary loan for any of the following purposes:
o Education
o House renovation / improvement / repair
o Equity on acquisition of house and lot or lot only
o Insurance premium payment
o Out-patient / hospitalization of employee / dependents
o Appliances acquisition
o For purposes other than the foregoing, a maximum
loan equivalent to two (2) months salary may be
availed of by each employee.
The maximum loanable amount of the salary loan is equal to five (5)
times the gross monthly income salary with minimal interest and
payable monthly for a maximum term of forty two (42) months.
E. Emergency Loan
All permanent employees may also avail of the emergency loan
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equivalent to the employees two (2) months gross monthly
compensation. This shall be payable in twenty four (24) months
through salary deduction, also with minimal interest.
The emergency loan shall cover the following purposes only:
Hospitalization for any illness or out-patient services
dreaded disease as defined by HMO for the employee
or his immediate dependents;
Funeral expenses of immediate dependents.
For repair / reconstruction of employees residence
destroyed by lahar, earthquake, fire, flash, flood,
typhoon, and other natural calamities.
Purchase of personal properties in case of robbery.
F. Housing Loan
The Financing Company shall assist qualified and deserving
employees who have rendered at least 7 years of satisfactory service
with the Financing Company in owning a house and lot under Pag-ibig.
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The amount shall not exceed P 500,000.00 and shall consist of a
combination of:
o A loan from Pag-ibig, subjects to the rules and
requirements of Pag-ibig and the Financing
Company, and which shall carry with it an interest
rate at the pass-on-rate of Pag-ibig plus 2%; and
o
An equity portion loaned by the Financing
Company not exceed to 25% of the total loan
subject to the rules and requirements of Pag-ibig
and the Financing Company, and which shall carry
with it an interest rate be equivalent to the pass-on-
rate of Pag-ibig plus 2%.
Pass-on-rate shall be defined as the rate charge to the Financing
Company by Pag-ibig for funds made available by Pag-ibig to the
Financing Company for the purposes of extending housing loans to its
employees.
G. Car Loan
The Financing Company provides car loan to its permanent rank and
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file employees not to exceed P200,000.00 subject to the minimum
lending rate and to the usual credit requirements and / or policies of the
Financing Company.
H. Funeral Assistance
The Financing Company also extends funeral assistance to the heirs of
a deceased employee, for the death of the employees spouse or child
and for the death of an employees parent or an unmarried dependent
brother / sister below 21 years old appearing on the employees
personnel file shall be recognized.
I. Retirement / Separation Benefit
Subject to the provisions of the Financing Companys Retirement Plan,
permanent employees who are retire are entitled to a separation or
retirement pay after the stated length of service in accordance with the
Financing Company policies.
It is understood that an employees length of service includes such
employees probationary period of employment.
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Subject to BIR regulations, retirement benefits are tax exempt provided
that the employee has rendered at least 10 years of service and is at
least 50 years old.
Corporate Governance Manual
The Board of Directors, officers and staff have committed themselves to the
principles and best practices contained in the Manual on Corporate Governance,
in the belief that good corporate governance is a necessary component of sound
strategic business management.
The Manual establishes the company's compliance system and plan of
compliance. It states that compliance with the principles of good corporate
governance starts with the Board of Directors. To this end, a director must act in
a manner characterized by transparency, accountability and fairness. The
Manual further enumerates the general responsibilities and specific duties and
functions of the Board, as well as those of the Board Committees, Corporate
Secretary, and the external and internal auditors.
The Manual mandates the conduct of communication and training programs on
corporate governance. It further provides for the rights of all shareholders and
the protection of the interests of minority stockholders. The Manual likewise sets
the penalties for non-compliance with its provisions.
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Best Transformer Inc. revised its Manual on Corporate Governance, in
accordance with the SEC Revised Code of Corporate Governance. The
significant changes to the Manual are summarized as follows:
The Compliance Officer shall be appointed by the entire Board of
Directors and not merely the Chairman of the Board.
The Board of Directors must at all times have at least two independent
directors.
In addition to its original duties, the Board will formulate and implement
policies on related party transactions and establish and maintain a dispute
resolution system to settle conflicts involving the company.
An independent director whose beneficial equity ownership in a company
or its subsidiaries and affiliates exceeds 2% of the subscribed capital
stock is temporarily disqualified from being a director of the company, until
his/her beneficial equity ownership reverts to the 2% limit.
The Audit Committee shall be chaired by an independent director.
The stockholders' right to appoint a proxy is expressly provided.
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