REVENUE REGULATIONS NO. 3-2015 issued on March 13, 2015 implements the provision of Republic Act No. 10653, more particularly on the increase to P 82,000.00 of the total amount of exclusion from gross income for 13 th month pay and other benefits, effectively further amending the pertinent provisions of Revenue Regulations (RR) No. 2-98. The amount of P 82,000.00 shall only apply to the 13th month pay and other benefits prescribed under the provision of Section 2.78.1.(B)(11) of RR No. 2-98, as amended, beginning January 1, 2015, and shall in no case apply to other compensation received by an employee under an employer-employee relationship, such as basic salary and other allowances. Further, said exclusion from gross income is not applicable to self-employed individuals and income generated from business. The amount of P 82,000.00 shall apply to the 13th month pay and other benefits paid or accrued beginning January 1, 2015. All taxpayers-employers shall ensure the correct computation and application of the said increase on the 13th month and other benefits of the employees in the year-end adjustments, and the same shall be clearly indicated, among others, in the Certificate of Compensation/Tax Withheld (BIR Form No. 2316). The said BIR form shall be issued by the employer to the employee on or before January 31 of the succeeding calendar year, or if the employment is terminated before the close of such calendar year, on the day the last payment of compensation is made. In case the employee whose employment is terminated and subsequently employed by another employer before the close of the calendar year, employee-transferee shall immediately furnish the new employer the accomplished BIR Form issued by the previous employer, for the appropriate Withholding Tax computation of the employee’s regular compensation and subsequent year-end adjustment, if any.