Dear all,
Do you know How the 13th Month ‘Bonus’ In Singapore Come About?
one year got 12 months.
one year got 52 weeks.
1 month have 4 weeks
12 months have 48 weeks
so where's the 4 weeks?
google Boxing Day.
That 13th month bonus came about because I said so.
Back in the year 2010, a virgin guy nick troublemaker2005 met a virgin girl nick Angel7030. They knew each other online, became friends and eventually fell in love, got married have lots of kids. Tomark this day in history and their exodus of love, courtship and life, the 13th month bonus was consttructed so that every singaporeans in spore can have one extra month of salary at the end of every calendar year. although most celebrated this idea, some spore companies do not agree and refuses to give out this payment as a gesture to award hardworking sporeans - the likes of troublemaker2005 and angel7030 whom sacrifices lots to come in unison.
I think many people have overlooked the whole picture.
Not only they give you your monthly pay, they also give you leave and medical benefits.
At one time where the market was the employees market. Workers were quiting and signing up at another company with pay rise each time.
In order to address this spate of resignation especially at the end of November, they introduce the AWS, the Annual Wage Supplement. There is a catch. To get this AWS, one has to be on the company payroll on 31 December. This made many employees to stay till 31 December, and submit their resignation on 2 January giving one month notice. This cause the worker to "lose" one month at the new company, which in turn affect the AWS of that year as it is pro-rated to 31 Dec.
The quantum of payment is recommended at one month, thus it is also called the 13th month pay.
Besides encouraging the worker to stay till the end of the year, it is also a mechanism to keep monthly wages low, but annual income high.
that's a myth. the fact is due to angel and me procreating , thus creation of the fund bonus to mark that day back in 2010 in history