Updates on the Release of P10,000 SRI (Dec. 18, 2019)
Here is the latest update about the Payment of Service Recognition Incentive (SRI) per Administrative Order No.19, series of 2019. Posted by Usec Annalyn M. Sevilla on Facebook this day of December 18, 2019. Below are the exact unedited words from her. Blessings!
Read Also: Conditions On The Grant Of The SRI
Payment of Service Recognition Incentive (SRI) per Administrative Order No.19, series of 2019
1. The 7k SRI shall be released to all qualified DepEd employees not earlier than Dec 20, 2019 chargeable to DBM-released allotment and cash.
2. The 3k SRI shall only be released upon identification of available savings from RELEASED allotment of the entire agency. DepEd needs approximately 3B to be able to pay additional 3k per employee. If pooled PS savings is not enough to cover the additional 3K, it should be UNIFORMLY divided to ALL employees of the AGENCY.
We are requesting all regional finance offices to submit the data/details on the available PS savings so we can identify the total pooled savings and determine the amount DepEd can give to its employees. Please submit on or before Dec 19, 2019.
Some updates after I received your comments… (bilis nyo talaga mag react hah!!! 🤗😜👍🎄🎄🎄)
1. Is this taxable? – yes, all compensation and benefits we receive are part of “Taxable income” which is used to calculate how much tax an individual owes to the government in a given tax year.
Income tax is generally computed after determining gross income or adjusted gross income (which is minus any deductions or exemptions allowed in that tax year). May adjustment naman yan before final report of ITR is submitted to BIR. Pag sobra naman withholding tax, agency will refund it to you. If kulang naman, magbabayad ka pa din ng kulang.
2. is BARMM included in grant of SRI? – yes it should be as AO 19, series 2019 even included LGUs, SUCS/LUCs and GOCCS. However, funding source depends if you are NGAs, LGUs or GOCCs. I suggest DepEd-BArmm should directly coordinate with DBM so they can have the 7k allotment and cash release from DBM.
3. Pasalamat pa din tayo dahil hindi naman expected itong SRI na ito. At least we have the 7k na on or after Dec 20. Let’s appreciate the effort of PRRD, cabinet secretaries who approved this incentive, OP, DBM; and all DepEd finance officers who will identify funding source for the additional 3k and they will work double/triple time to ensure this will be obligated by end of year so we can pay in cash to all employees the additional SRI even after 2020.
Mas merry pa din ang CHRISTmas!!!
God bless you all 🤗🤗🤗🙏🙏🙏🎄🎄🎄