Which components are included in the computation of "one-half month salary" for retirement pay?

The correct answer encompasses the components that accurately reflect what is included in the computation of "one-half month salary" for retirement pay. This computation includes a combination of the latest salary, specific leave entitlements, and a portion of the thirteenth-month pay, which is a common consideration in retirement calculations.

Specifically, the answer includes fifteen days of salary, which represents a significant part of the monthly compensation. Additionally, the cash equivalent of five days of service incentive leave is included. Service incentive leave is typically considered when calculating benefits, as it contributes to the overall earnings of an employee. Lastly, the one-twelfth (1/12) or 2.5 days of the thirteenth-month pay is factored in since the thirteenth-month pay is a mandated benefit in many employment contracts and represents a fraction of the overall total earnings for the year.

When all these components are combined, they provide a comprehensive view of what constitutes "one-half month salary" in the context of retirement pay, making the choice accurate and in line with statutory monetary benefits practices.