19 Marso 2024, Martes
supports Fire Prevention Month
deepest sympathy to family of the late Danilo Halili
supports Women Month March
joins Christian nations in observance of Lenten season
welcomes Bagong Bayani Monico Lopez Caranay
Tax breaks for cos hiring sr citizens
By Nidz Godino
“All government agencies and private entities shall institute employment program that shall promote general well-being of senior citizens and ensure access to employment opportunities to those who have qualifications, capacity, and interest to be employed,” House ways and means committee has approved measure that seeks to expand job opportunities for senior citizens by incentivizing companies to hire them.
Rep. Erwin Tulfo (ACT-CIS) said still-unnumbered substitute bill offers tax reductions for companies that will hire elderly workers and requires Department of Labor and Employment (DOLE) to help senior citizens looking for work.
Under the bill, companies hiring elderly workers can avail of 25% tax reduction of amount paid to salaries, wages and benefits and trainings for senior citizens.
DOLE, through public employment service offices, will also provide information and matching services for senior citizens “who have capacity and desire to work,” according to the bill.
Tulfo said measure aims to increase job opportunities for senior citizens and reward companies who hire them, as senior citizens can “bring stability, loyalty, and wealth of experience to workplace” and “often require less training and can serve as mentors to younger colleagues.”
Measure also waives all fees for elderly workers applying for government documents needed for employment, such as National Bureau of Investigation clearance, police clearance certificate, barangay clearance, among others.
Data from the Philippine Statistics Authority (PSA) in 2015 show large portion of senior citizens (persons aged 60 or older) are still active in workforce.
Around 42%, equivalent to 3.17 million senior citizens, are engaged in gainful employment, according to PSA. Of this number, 1.19 million are skilled in agricultural, forestry and fishery work (38%), 499,000 hold elementary occupations (16%), and 427,000 are in managerial positions (14%).
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