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The Labor Code of the Philippines specifies two types of holidays: the "regular holiday" and the "special non-working day". [8] There is a difference in the pay that employers are required to pay between the two type of holidays.
Employees required to work due to their nature of their work are paid extra of their daily rate and cost of living daily allowance depending if the holiday is a regular (200%) or a special non-working holiday (130%). [1] If a holiday falls on a non-working day for the employee, the employee is not compensated.
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The computation for the wage is his regular wage plus at least twenty-five percent (25%) of his hourly wage. Work performed beyond eight hours on a holiday or rest day shall be paid an additional compensation equivalent to the rate of the first eight hours on a holiday or rest day plus at least thirty percent (30%) thereof. [10]
Rizal Day (Spanish: Día de Rizal, Filipino: Araw ni Rizal; Tagalog:) is a Philippine national holiday commemorating life and works of José Rizal, a national hero of the Philippines. It is celebrated every December 30, the anniversary of Rizal's 1896 execution at Bagumbayan (present-day Rizal Park) in Manila.
Regular operating hours for both exchanges are Monday-Friday from 9:30 a.m. – 4 p.m. ET, although there are various ways to trade stocks 24 hours a day. Markets do not operate during the weekend ...
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