Definition
The Annual Wage Supplement (AWS), also known as the 13th-month bonus, is a discretionary bonus paid to employees by their employers as an additional form of compensation. The AWS is typically paid once a year, usually at the end of the calendar year or during festive seasons, and is intended to reward employees for their contributions, loyalty, and service to the company. The AWS amount may vary depending on company performance, individual performance, or industry practices, and it is usually based on the employee's gross salary or length of service with the company.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.