14th Month, Amount Payable in 4 Installments

In a significant update for employees, the 14th-month pay can now be received in installments starting in December 2024. This new payment structure allows greater financial flexibility. According to the Special Allowance Bill, the 14th month’s payment can be issued in four installments.

The bill states the following:

1. Employers are required, unless stated otherwise in paragraph (b), to pay the special allowance in two equal payments.

• The first payment must be made by the last working day of December 2024.
• The second payment must be completed by the last working day of January 2025.

1. However, employers and employees may mutually agree to divide the special allowance into a maximum of four equal payments. In this case:

• The first installment must still be paid by the last working day of December 2024.
• Subsequent payments can be made on dates agreed upon by both parties, or, if no agreement is reached, at the end of each of the following months after December 2024.

Source: Defi Media