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  • Statutory Deductions of Employees (Ikyong)

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    Gemelyn Cueva
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    The document outlines statutory deductions for employees in the Philippines including Social Security System (SSS), PhilHealth, Pag-ibig, and withholding tax. SSS contribution rates are a percentage of the employee's salary with deadlines for regular employers being the end of each month. PhilHealth rates also are a percentage of salary with payment schedules depending on employer identification numbers. The minimum monthly Pag-ibig contribution is 100 pesos each for employers and employees. Withholding tax rates for retainers are 5% monthly for incomes below 3 million pesos and 10% for higher incomes.

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    Mandatory deductions provided for by law

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    The document outlines statutory deductions for employees in the Philippines including Social Security System (SSS), PhilHealth, Pag-ibig, and withholding tax. SSS contribution rates are a percentage of the employee's salary with deadlines for regular employers being the end of each month. PhilHealth rates also are a percentage of salary with payment schedules depending on employer identification numbers. The minimum monthly Pag-ibig contribution is 100 pesos each for employers and employees. Withholding tax rates for retainers are 5% monthly for incomes below 3 million pesos and 10% for higher incomes.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    13 views1 page

    Statutory Deductions of Employees (Ikyong)

    Uploaded by

    Gemelyn Cueva
    The document outlines statutory deductions for employees in the Philippines including Social Security System (SSS), PhilHealth, Pag-ibig, and withholding tax. SSS contribution rates are a percentage of the employee's salary with deadlines for regular employers being the end of each month. PhilHealth rates also are a percentage of salary with payment schedules depending on employer identification numbers. The minimum monthly Pag-ibig contribution is 100 pesos each for employers and employees. Withholding tax rates for retainers are 5% monthly for incomes below 3 million pesos and 10% for higher incomes.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    STATUTORY DEDUCTIONS OF EMPLOYEES

    Social Securities System (SSS)

    Salary ER EE TOTAL

    P16,000 P1,280 P640 P1,920


    P11,000 P880 P440 P1,320

    Payment deadline/Schedule

    Regular Employers – every end of the month following the applicable month

    PhilHealth

    Salary ER EE TOTAL

    P16,000 P220 P220 P440


    P11,000 P151.25 P151.25 P302.50

    Payment Schedule

    ER with PENs ending 0-4 - Every 11th – 15th day of the month following
    the applicable period
    ER with PENs ending 5-9 - Every 16th – 20th day of the month following
    The applicable period
    Pag-ibig

    100 minimum contributions from ER and EE

    Withholding Tax

    Retainers Fee – as per BIR for 3 million below, withholding tax shall be 5% monthly
    Over 3 million and up shall be 10% monthly.

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