Ever wonder how much elected city councilors make?
These are the entries in my pay slip for this month:
Earnings – Monthly Salary P25,764.00; Personal Emergency Relief Allowance (PERA) P0.00; Additional Compensation P1,500 – Total P27,264
Deductions – GSIS Life & Retirement Insurance P2,318.76; Home Development Mutual Fund Premium P100.00; Medicare P312.50; Withholding Tax P3,836.60; PAG-IBIG Loan P617.46 – Total P7,185.32
Net Pay – 1st Week P5,019.00; 2nd Week P5,019.00; 3rd Week P5,019; 4th Week P5,021.68 – Total P20,078.68
Not much huh? This should belie popular perception that politicians make a killing such that many poor people line up at our offices and homes for financial aid.
Ha, ha, ha. At P20,000 a month, councilors are in fact receiving lower than the ideal living wage of at least P1,000 per day for a family of six.
This pay slip was released last July 1 or prior to the effectivity of the new law exempting minimum wage earners from income taxes and increasing the personal exemptions and additional deductions on those earning higher income.
So, employers need to adjust their computations on all their employees to comply with this new law on withheld taxes. Mine is P3,836.60 a month. I am a public servant and yet the government takes away from me this much per month.
It is estimated that this non-wage benefit would add at least P34 per day to the take home pay of minimum wage earners. Unfortunately, the galloping inflation rate has eroded the same before workers could enjoy this benefit. Inflation in June was recorded at 11.4 percent, the highest since 1994.