Thursday, August 5, 2010

P-Noy gets first paycheck of P63,002

While most of us opt to keep our earnings a secret, P-Noy is more than happy to show his paycheck to the public. The amount may be miniscule for a person holding the highest office in land. But for the average Filipino, its a lot.

A photo of P-Noy holding his paycheck was released by the MalacaƱang Photo Bureau on Wednesday. The check was dated July 30 but was released on Monday, August 2. Aquino's salary is pegged at over P90,000, equivalent to Salary Grade 33 (SG 33), which is accorded to the highest position in the Philippine government, according to Republic Act 6758 or the Compensation and Position Classification Act of 1989.

However, the Chief Executive gets a 35% pay cut from his monthly salary due to mandatory deductions such as withholding tax, Pag-IBIG, Philhealth and GSIS.


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