Cash bonuses are paid during our scheduled pay runs on the 15th and 30th of each month. The cutoff for cash bonuses is five days before the scheduled pay run.
Example: If you submit the form on January 10th, your team member will receive the cash bonus in the pay run scheduled for the 15th. However, if you submit the form on January 13th, the cash bonus will be processed in the next pay run on the 30th.
Cash bonuses are processed using an established exchange rate, which is regularly reviewed to reflect current market conditions. Currently, the exchange rate used for AUD to PHP conversion is 38. Your team member will receive the full cash bonus amount, with applicable taxes withheld.
Click the (+) icon in the ‘Team Member Name(s)’ section and specify the amount allocation per team member.
If you are an Australian business and require a tax invoice for the cash bonus, please send an email to accounts@5elk.com.au. We will promptly send the necessary documentation to you.
Unfortunately, the taxman requires us to add GST since 5 ELK is an Australian company.