Section 2
Interim Measure
Section 2.
Interim Measure.
—In the interim, the compensation framework of GOCCs, Government Financial Institutions, Government Instrumentalities with Corporate Powers, or Government Corporate Entities (hereinafter referred to as "GOCCs"), including their subsidiaries, which are covered under RA No. 10149, shall be governed by the following:
a. For SSL-covered GOCCs, the GOCC shall adopt the Modified Salary Schedule under EO No. 201 (s.2016), as well as the allowances and benefits provided therein, upon approval by the GCG.
The implementation of the compensation adjustments shall be subject to the provisions of EO No. 201, where applicable.
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GOCCs which do not have adequate or sufficient funds shall partially implement the Modified Salary Schedule and authorized benefits. In case of partial implementation, the same shall be at uniform percentage across all positions for every GOCC.
b. All SSL-exempt GOCCs shall have the option to either maintain their current compensation framework or, subject to approval of the GCG, adopt the Modified Salary Schedule under EO No. 201. For GOCCs adopting the Modified salary Schedule under EO No. 201, the following shall apply:
i. They shall be limited to the benefits, allowances, incentives provided under JR No. 4;
ii. The GCG shall have the authority to convert/revise the compensation framework of such GOCCs (i.e., convert from Job Grade to salary Grade);
iii. A Mid-Year bonus equivalent to one (1) month basic salary shall be granted to those who have rendered at least four (4) months of satisfactory service and are still in service as of same date, to be given not earlier than May 15 of every year. The existing year-end bonus equivalent to one (1) month basic salary and Cash Gift at prescribed rates shall be given in November of every year. The grant of the Mid-Year and Year-End bonuses as well as the Cash Gift shall be subject to the guidelines issued by the GCG.
The Mid-Year and Year-End bonuses provided herein, shall be in lieu of the bonuses allowances or incentives of similar nature that the GOCCs receive under their current compensation framework.
Section 6
Implementing Rules and Regulations
Section 6.
Implementing Rules and Regulations.
—within thirty 930) days from the effectivity of this Order, the GCG shall promulgate implementing rules and regulations which shall, among others, ensure that the approvals herein required prior to implementation of the interim measure are issued to qualified GOCCs in the most expedient and efficient manner.
Section 7
Repeal
Section 7.
Repeal.
—All orders, circulars, issuances, board resolutions, rules and regulations or part thereof which are inconsistent with the provisions of this Order are hereby repealed or modified accordingly.
Section 9
Effectivity
Section 9.
Effectivity.
—This Order shall take effect immediately.
DONE,
in the City of Manila, this 28th day of July, in the year of Our Lord Two Thousand and Seventeen.
(SGD.)—
RODRIGO ROA DUTERTE
By the President:
(SGD.)—
SALVADOR C. MEDIALDEA
Executive Secretary