RELEASE OF FINAL PAY AND QUITCLAIM
Processing Period:
In accordance with DOLE Labor Advisory No. 06-20, the Company shall process and release the Final Pay within thirty (30) calendar days from the employee's last day of service. This window allows the Administrative and Accounting teams to:
- Perform a final audit of all company assets and digital accounts.
- Calculate pro-rated 13th-month pay and unused Service Incentive Leaves (SIL).
- Complete tax-substituted filing and final salary adjustments.
Pre-requisite (Clearance):
The release of the Final Pay and the issuance of the Certificate of Employment (COE) are strictly contingent upon the completion of the Company Clearance.
Asset Return: All physical equipment (laptops, peripherals, keys, nfc card) must be returned in good condition.
Knowledge Transfer: All passwords, digital admin rights, and project documentation must be surrendered to the Supervisor.
Final Pay and Offsetting
Pursuant to the employee’s signed consent in the Master Acknowledgment, the Company is authorized to offset/deduct the Liquidated Damages and any outstanding accountabilities (unreturned gear, lost NFC cards, etc.) from the employee’s Final Pay, 13th-month pay, and other benefits.
The Quitclaim:
Upon receiving the Final Pay, the employee shall sign a Waiver, Release, and Quitclaim. This document confirms that the employee has received all amounts due to them and that they have no further claims against the Company
No Expedited Processing:
To ensure accuracy in tax computations and asset audits, the Company does not offer "expedited" or 1-week final pay processing.
Issuance of Certificate of Employment (COE)
Pursuant to the same Advisory, the Company shall issue the Certificate of Employment within three (3) days from the employee's request, provided the request is made following the official notice of resignation or termination.