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• Employee salaries and wages are usually one of the highest expenses that an employer has
• Payroll


  1. Gross pay

  2. Payroll taxes and other deductions

  3. Net pay

  
• Salary


  Amount an employee earns annually
• Wage


  Amount an employee earns hourly
• Pay period


  Span of time included in each paycheck
• Typical pay periods


  • Weekly
  • Bi-weekly
  • Semi-monthly
  • Monthly
• Gross pay


  Amount an employee earns in a pay period before any payroll taxes or other deductions are subtracted
• Gross pay calculations


  • Employee earning P264,000 per year paid weekly = P5,500 per week
  • Employee earning P130 per hour for 40-hour work week = P5,200 per week

  
• Employees are required by law to have certain taxes withheld (taken out) of their gross pay as they earn it
• Deductions from employee's gross pay in the Philippines

  • Social Security System (SSS) Contribution
  • Pag-ibig Fund Contribution
  • PhilHealth Contribution
  • Expanded Withholding Tax

  
• Employee salaries and wages are usually one of the highest expenses that an employer has
• Social Security System (SSS)

  Provides death, funeral, maternity leave, permanent disability, retirement, sickness and involuntary separation/unemployment benefits
• Payroll


  1. Gross pay

  2. Payroll taxes and other deductions

  3. Net pay

  
• Salary


  Amount an employee earns annually
• Employees' Compensation (EC) Program


  Provides double compensation to workers who had illness, accident during work-related activities, or died
• SSS Salary Loans


  Calculated based on a member's particular monthly salary credit

  
• Wage


  Amount an employee earns hourly
• SSS Calamity Loans


  For instances when the government has declared a state of calamity in the area where an SSS member lives, following disasters such as flooding and earthquakes
• New SSS Contribution Rates Effective 2023


  • 2023: 14% (9.5% Employer, 4.5% Employee)
  • 2024: 14% (9.5% Employer, 4.5% Employee)
  • 2025: 15% (10% Employer, 5% Employee)

  
• Pay period


  Span of time included in each paycheck
• Typical pay periods


  • Weekly
  • Bi-weekly
  • Semi-monthly
  • Monthly
• Pag-ibig Fund Housing Loan


  Affordable financing for housing needs, lower interest rate compared to market, payable in longer terms
• Gross pay


  Amount an employee earns in a pay period before any payroll taxes or other deductions are subtracted
• Pag-ibig Fund Short-Term Loans

  Multi-Purpose Loan and Calamity Loan
• Gross pay calculations


  • Employee earning P264,000 per year paid weekly = P5,500 per week
  • Employee earning P130 per hour for 40-hour work week = P5,200 per week

  
• Pag-ibig Fund Provident Savings

  Members' contributions plus dividends, can be withdrawn at maturity
• PhilHealth


  Provides comprehensive package of services including inpatient care, catastrophic coverage, ambulatory surgeries, deliveries, and outpatient treatment
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  Member's individual savings, which a member can withdraw at the maturity date
• Employees are required by law to have certain taxes withheld (taken out) of their gross pay as they earn it
• Deductions from employee's gross pay in the Philippines

  • Social Security System (SSS) Contribution
  • Pag-ibig Fund Contribution
  • PhilHealth Contribution
  • Expanded Withholding Tax

  
• Total Accumulated Value


  Contributions plus dividend
• Social Security System (SSS)

  Provides death, funeral, maternity leave, permanent disability, retirement, sickness and involuntary separation/unemployment benefits

  
• Employees' Compensation (EC) Program


  Provides double compensation to workers who had illness, accident during work-related activities, or died
• SSS Salary Loans


  Calculated based on a member's particular monthly salary credit

  
• Members' contributions, plus that their employer will earn dividend
• SSS Calamity Loans

  For instances when the government has declared a state of calamity in the area where an SSS member lives, following disasters such as flooding and earthquakes
• Total Accumulated Value (contributions plus dividend) can be withdrawn when it reaches maturity or 240 months of contributions for at least 45 years old
• Unlike the money in a bank regular savings where the interest rate is given, member's earnings in the fund is not readily foreseen ahead of time
• Participating in an investment

  Membership earnings will depend on the overall performance of that investment
• PhilHealth benefits


  • Inpatient care
  • Catastrophic coverage
  • Ambulatory surgeries
  • Deliveries
  • Outpatient treatment for malaria and tuberculosis