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RNG Bank Salary Loan Table for DepEd Teachers

Salary Loan Table - RNG Coastal Bank RNG Bank offers salary loan for permanent DepEd teaching and non-teaching staff thru Automatic Payroll Deduction System (APDS). Features: 📍LOW INTEREST RATE 📍LOAN AMOUNT UP TO 500,000 📍5 YEARS MAXIMUM LOAN TERM 📍NO HIDDEN CHARGES 📍NO NEED TO GO TO THE OFFICE A Bank that is built with trust and integrity and committed to provide quality and safe banking services to its existing and future clients, RNG Coastal Bank, Inc . is a banking institution established in the year 1974. The Bank has 15 operating branches in the Visayas, 11 in Cebu and 4 in Bohol. Providing various financial products and services to its clients for almost 50 years, RNG Coastal Bank remains strong and continuously grows its number of branches to reach more Filipinos. Here are the branches of RNG Coastal Bank: RNG Coastal Bank Head Office Cor. Cabancalan Road, Talamban, Cebu City 6000 Labangon Branch Punta Princesa, (Labangon) Cebu City Asturias Branch Poblacion, Asturias, Ce...
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Understanding Proportional Vacation Pay for DepEd Newly Hired Teachers

As a newly hired teacher in the Department of Education (DepEd), one of the crucial aspects of your compensation package is proportional vacation pay (PVP). PVP ensures that you receive fair compensation for your service, taking into account the duration of your employment during the school year. Let’s delve into how PVP is computed for newly hired teachers based on their date of appointment.

First Day of Service: August 29 to September 31, 2023

For teachers whose first day of service falls between August 29 and September 31, 2023, the total PVP earned is equivalent to 58 days, provided there were no absences without pay during the school year (SY).

Understanding the Computation

The computation of PVP for newly hired teachers is based on the number of days they have served during the school year. Each day of service corresponds to one less day of PVP earned. This deduction continues until the end of the school year or until the teacher has accrued 58 days of PVP, whichever comes first.

Example: September 01 to 04, 2023

For instance, if a teacher’s first day of service is from September 01 to 04, 2023, they would have served for four days. Therefore, their total PVP earned would be 54 days (58 days - 4 days).

The Gradual Deduction

As the school year progresses, the number of days deducted from the total PVP earned gradually increases. For example:

  • Teachers who started serving from September 05 to 09, 2023, would have 56 days of PVP earned (58 days - 2 days).
  • Teachers who started serving from November 25 to 28, 2023, would have 38 days of PVP earned (58 days - 20 days).

Final Deduction

The deduction reaches its peak when teachers start serving closer to the end of the school year. For instance:

  • Teachers who start serving from May 26 to 29, 2024, would have only one day of PVP earned (58 days - 57 days).
  • Teachers who start serving on May 30 or 31, 2024, would not be entitled to any PVP due to the complete deduction of 58 days.

Conclusion

Understanding the computation of proportional vacation pay is essential for newly hired teachers in DepEd. It ensures that teachers are fairly compensated for their service during the school year. By knowing how PVP is calculated based on the date of appointment, teachers can better manage their finances and plan their vacations accordingly.


CLICK THIS LINK TO READ DEPED MEMORANDUM NO. 026, SERIES 2024

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