In the month of May, AYP organised our first series of webinars which were centred around payroll regulations in various countries around the ASEAN Region. This included rules and regulations, statutory contributions and how JuzTalent can help companies in the various ASEAN regions with processing and organising their payrolls. This webinar series was hosted by experienced in-house AYP staff, who have extensive experience and knowledge in the payroll process. If you’ve missed out on this webinar but would like to find out more, then read on and be sure to be on the lookout for our other upcoming webinars.
The speaker for the Philippine’s addition of the Payroll Journey Webinar was none other than Jodan Manuel. Jodan is an AYP Human Resource (HR) Tech Consultant with 6 years of experience. He provides software solutions to add convenience to both companies’ and consumers’ daily work processes. During the webinar, Jodan discussed payroll legislation, basic statutory processing, statutory contributions, income tax computation, reports, payroll calculations and how JuzTalent can help a company with all of these.
Payroll Rules & Regulations: In the Philippines, pay schedule is done either daily, weekly, semi/bi-monthly or monthly. There are also pay increases should one work during a rest day, in which case the hourly rate is increased to 130%. Should this take place on a regular holiday, the pay is increased to 200% otherwise known as double pay. Overtime pay is calculated depending on the day on which the employee works overtime. (For example, a normal working day vs. a regular holiday) Employers also need to take into account the night differential of 10%, which takes place if an employee works between 10pm-6am.
Statutory Contributions: There are three different government organisations for which statutory contributions need to be made. The Social Security System (SSS), PhilHealth and the Home Development Mutual Fund. While some of these contributions are fixed, others depend on how much one is being paid in the first place.
Taxes: Taxes in the Philippines are computed based on basic income, taxable income and salary payment schedule. Minimum wage earners are also taken into consideration when income tax is being calculated. The annual income tax also has to be reported.
How Can JuzTalent Help? The AYP Payroll Process goes like this; Reports are sent and received within 2 working days, with an easy 2-step method for employees to access their payrolls on the JuzTalent website. JuzTalent also provides accuracy, punctuality and takes care of statutory submissions, government claims such as sick or maternity leave, prepares your income tax and provides salary re-imbursement.