The Department of Labor and Employment called on employers to assist their workers in opening bank and e-money issuer accounts for the sake of promoting “financial inclusivity.”
“Paying wages and monetary benefits of workers the digital way helps the government promote financial inclusivity,” Labor Secretary Silvestre Bello III said, noting that digital money transfers were a safer method.
Bello likewise reminded employers that they were still required to comply with existing laws including the issuance of payslips or records of payment and deduction.
In August, Bello issued Labor Advisory No. 26-20 which encouraged payment of wages and other monetary benefits through transaction accounts.
The advisory also stated that employers helping their workers open bank and e-money issuer accounts should not result in wage and benefit deductions.
Digital money transactions have seen an uptick due to the Covid-19 pandemic and the country’s sanitary and distancing rules to prevent the virus’ spread. John Ezekiel J. Hirro