You are making a wrong comparison.
daily rate/paid employees are no work no pay employees. they are not paid for the actual days that they have worked and on un-worked holidays. The have no pay for special holiday or un-worked rest day. At he current rate, the minimum wage is 491 (481 basic + 10 ecola) for your working days, the equivalent monthly pay a daily pay employee will receive (using 23.75 thats 285/12) would be P11,661.25
Monthly rate/paid employees are those who are paid every day of the month, including un-worked rest days, special days, and regular holidays. now you are earning P14,575.00. you are above minimum wage, and you are paid for rest days, special holidays and regular holidays
For payroll computation, for daily rate, the timekeeper counts the number of days that you have worked. for monthly rate, the timekeeper counts the number of absences (or leave without pay) you have incurred. What's the difference? some cut-off have only 11 days up to 15 or 16 days. daily paid are only paid i.e. 11 days. for monthly rate, the number of days doesn't matter. as long as you have no absent, the computation starts with your monthly rate divided by 2
Every computation started in the minimum wage and that's 491. if you look in the DOLE website, they put up a guide on how to compute the Estimated Equivalent Monthly Rate.
The 365 you are stating is based on if you are paid for every day of the year. usually 365 factor is for managers. Since you are not a manager do not use this factor.
The factor they used is modifying the 261 days per year and since you have 2 saturdays per month, thus it became 285.
So in short, they are using the guide formula given by dole and they are not violating any law.