The topics below may be relevant to your daily activities, especially those which involve business law, labor law, and other legal areas of your business.
Business Law and Labor Law Updates
WHO MAY REGISTER AS A MEMBER OF SOCIAL SECURITY SYSTEM?
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A spouse of a member of Social Security System (SSS) who devotes full time to managing the household may register as a member of the SSS
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An employee who was separated from employment may continue paying his contribution
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A voluntary member (VM) shall pay his or her contribution in accordance with the guidelines on payment deadline applicable to self-employed member
WHO SHOULD REGISTER AS A MEMBER OF SOCIAL SECURITY SYSTEM?
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Employees not over sixty (60) years of age and their employers are mandated to register as members of Social Security System (SSS)
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Self-employed persons are also required to register as members of SSS
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Land-based and sea-based Overseas Filipino Workers (OFWs) are likewise covered by the SSS
PERFECTION IN PROCEEDS UNDER PERSONAL PROPERTY SECURITY ACT
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A security interest in personal property shall extend to its identifiable or traceable proceeds.
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Proceeds are any property received upon sale, lease or other disposition of collateral, or whatever is collected on or distributed with respect to collateral, claims arising out of the loss or damage to the collateral, as well as a right to insurance payment or other compensation for loss or damage of the collateral.
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Upon disposition of collateral, a security interest shall extend to proceeds of the collateral without further act and be continuously perfected, if the proceeds are in the form of money, accounts receivable, negotiable instruments or deposit accounts.
INCENTIVES FOR THE PRODUCTION AND PROPAGATION OF ORGANIC FARM INPUTS UNDER ORGANIC AGRICULTURAL ACT
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The government extends incentives for the production and propagation of organic farm inputs
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Incentives are provided to farmers whose farms have been duly certified as compliant to the Philippine National Standards (PNS
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Tax incentives are given to purely organic agriculture entities or farmers
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