—short answer: NO.

However, the Malacañang has instead issued Proclamation No. 453, declaring Friday, February 9, 2024, a holiday (special non-working day) throughout the entire country. Under Proclamation, February 9 has been declared a Special Non-working Holiday in the Philippines to celebrate the Spring Festival, also known as the Chinese New Year.

Read the full proclamation document below.

The Department of Labor and Employment (DOLE) reminded employers to pay an additional 30 percent of their employees’ basic wage.

The additional pay will reflect the computation of the basic wage multiplied by 130 percent , on top of the cost of living allowance.

Workers who will render overtime work will be paid an additional 30 percent of their hourly rate during the said date, while those who will report on the holidays even on their rest day should be paid an extra 50 percent on the first eight hours of work. 

Meanwhile, those who will work overtime on their day off should also be paid an additional 30% of their hourly rate. – WhatALife.ph

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Also Read: February 9, 2024, Declared a Special Non-Working Holiday in the Philippines in Celebration of Chinese New Year