Employers were recently urged by the Department of Labor and Employment (DOLE) to help workers open bank accounts.
Workers can also be assisted by employers in opening accounts in any e-money issuers (EMIs) where the latter maintain accounts, the labor department said.
In Labor Advisory No. 026 series of 2020, Labor Secretary Silvestre Bello III encouraged private companies to utilize transaction accounts to pay employees’ wages and other monetary benefits.
Pursuant to Article 5 of the Labor Code as amended, the advisory aims to enable private companies to pay wages and other monetary benefits without delay and to give employees access to financial services for the promotion of their welfare.
Bello said aside from being a safe mode for fund transfer, using transaction accounts is financially inclusive.
“Paying wages and monetary benefits of workers the digital way helps the government promote financial inclusivity,” Bello said.
In using this medium, however, Bello said employers are still required to comply with existing laws including the issuance of payslips or records of payment and deduction.
Bello’s call was echoed by DOLE’s regional offices across the country that could also lead workers and employees transition into cashless transactions and help abate the spread of the coronavirus.
In making his own appeal to employers, DOLE Region 6 Director Cyril Ticao stressed there should be no additional expenses or fees on the workers’ part.
“Neither should there be diminution of wages and other monetary benefits,” Ticao said.
He said the regional office has also been promoting digital payment as a safer alternative to cash transaction since it reduces physical contact and minimize the possibility of spreading the virus.
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