The Labor Code sets the rules for hiring and firing of private employees; the conditions of work including maximum work hours and overtime; employee benefits such as holiday pay, thirteenth-month pay and retirement pay;  and the guidelines in the organization and membership in labor unions as well as in collective bargaining. The prevailing labor code allows the typical working hour to be 8 hours a day, i.e.
The Labor Code stipulates the rules governing private workforce management, encompassing issues such as work schedules, overtime limits, and employee entitlements like paid leave, annual bonuses, and retirement savings. Furthermore, it outlines protocols for labor organization and contract negotiations between employers and unions.