WHAT IS COMPRESSED WORK WEEK?

A Compressed Work Week scheme is an alternative arrangement whereby the normal workweek is reduced to less than six days but the total number of normal working hours per week shall remain at 48 hours.
The agreement of undertaking a Compressed Work Week scheme may be expressed through collective bargaining agreement or other legitimate workplace mechanisms of participation.
The Compressed Work Week scheme is undertaken as a result of an express and voluntary agreement of majority of the covered employees.

WHAT IS THE RULE ON ACCOUNTING FOR EMPLOYEE’S UNDERTIME OR ABSENCES?

Undertime work on any particular day shall not be offset by overtime work on any other day.
Permission given to the employee to go on leave on some other day of the week shall not exempt the employer from paying the additional compensation required.
The proper method should be to deduct the undertime from the accrued leave but pay the employee the overtime to which he is entitled.

As a general rule, the majority of the board shall only be required to sell or dispose corporate assets if the sale or disposition does not cover or substantially all of the assets.
A sale or other disposition shall be deemed to cover substantially all the corporate property and assets if thereby the corporation would be rendered incapable of continuing the business or accomplishing the purpose of which it was incorporated.
Generally, where one corporation sells or otherwise transfers all of its assets to another corporation, the latter is not liable for the debts and liabilities of the transferor.

Reinstatement is a restoration to a state from which one has been removed or separated.
Separation pay is computed from the commencement of employment up to the time of termination.
Moral damages are recoverable where the dismissal of the employee was attended by bad faith.