how to compute your salary

Typical payroll

computation format

Ms. PastillasFor the period August 2015

Basic Pay P xxAdd:

Overtime P xxNight Diff. xxHoliday Pay xx xx

Gross Pay xxLess:

Tardiness xxUndertime xxLeave w/o pay xxAdjustments xxSSS Dues xxPag-ibig Dues xxPhilhealth Dues xx xx

Taxable Income xxLess:

W/Holding tax xxSSS Loan xxPag-ibig Loan xxAdvances/vale xxUnion Dues xx xx

Add:Allowances xxComissions xx xx

Net Pay P xx

Holiday Pay

Regular holiday: x200% (minimum wage x 200%)

Addition to basic rate

• Rest day or Special day: +30%(basic rate x 130%)

• Special day falling on a scheduled rest day: +50%(basic rate x 150%)

• Regular holiday falling on a scheduled rest day: +30%(basic rate x 260%)

Overtime PayAddition to hourly rate

• Ordinary working days: +25%(hourly rate x 125% x number of hours OT work)

• Rest day or Special day: +30%(hourly rate x 130% x 130% x number of hours OT work)

• Special day falling on a scheduled rest day: +50%(hourly rate x 150% x 130% x number of hours OT work)

• Regular holiday: +30%(hourly rate x 200% x 130% x number of hours OT work)

• Regular holiday falling on a scheduled rest day: +30%(hourly rate x 260% x 130% x number of hours OT work)

Night Shift DifferentialWork on: Pay equals:Ordinary day 1 x 1.1 = 1.1 or 110%Rest day/special day 1.3 x 1.1 = 1.43 or 143%Special day, rest day 1.5 x 1.1 = 1.65 or 165%Regular Holiday 2 x 1.1 = 2.2 or 220%Regular Holiday, rest day 2.6 x 1.1 = 2.86 or 286%

OVERTIMEOrdinary day 1 x 1.1 x 1.25 = 1.375 or 137.5% Rest day/special day 1.3 x 1.1 x 1.3 = 1.859 or 185.9%Special day, rest day 1.5 x 1.1 x 1.3 = 2.145 or 214.5% Regular Holiday 2 x 1.1 x 1.3 = 2.86 or 286%Reg. Holiday, rest day 2.6 x 1.1 x 1.3 = 3.718 or 371.8%

SSS Contribution Table 2015 .

SSS Contribution Table 2015

Total Contribution = 11% Of monthly salary credit not exceeding P16,000

Where: 7.37% from employer3.63% from employee

Total Contribution = P 12,000 x 11% = P 1,320.00Employer = 12,000 x 7.37% = P 884.00Employee= 12,000 x 3.63% = P463.00

Pag-IBIG Monthly Contribution

Employee share:

P 1,500 x 1% = P 15.00

P 2,000 x 2% = P 40.00

P 5,000 x 2% = P 100.00

Employer share:

P 1,500 x 2% = P 30.00

P 2,000 x 2% = P 40.00

P 5,000 x 2% = P 100.00

Philhealth Premium Contribution Table 2015

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Philhealth Premium Contribution Table 2015

*Employee share representshalf of the totalmonthly premium while the other halfis shouldered by theemployer.

Total Monthly Premium = 2.5% of Salary Base not exceeding 35,000

Total Monthly Premium = P 12,000 x 2.5% = P 300.00Employee share = P 300 / 2 = P 150.00 Employer share = P 300 / 2 = P 150.00

Typical payroll

computation format

Ms. PastillasFor the period August 2015

Basic Pay P xxAdd:

Overtime P xxNight Diff. xxHoliday Pay xx xx

Gross Pay xxLess:

Tardiness xxUndertime xxLeave w/o pay xxAdjustments xxSSS Dues xxPag-ibig Dues xxPhilhealth Dues xx xx

Taxable Income xxLess:

W/Holding tax xxSSS Loan xxPag-ibig Loan xxAdvances/vale xxUnion Dues xx xx

Add:Allowances xxComissions xx xx

Net Pay P xx

Typical payroll

computation format

Ms. PastillasFor the period August 2015

Basic Pay P12,000.00Add:

Overtime P0.00Night Diff. - Holiday Pay - -

Gross Pay 12,000.00 Less:

Tardiness - Undertime - Leave w/o pay - Adjustments - SSS Dues 463.00 Pag-ibig Dues 100.00 Philhealth Dues 150.00 713.00

Taxable Income 11,287.00 Less:

W/Holding tax - SSS Loan - Pag-ibig Loan - Advances/vale - Union Dues - -

Add:Allowances - Comissions - -

Net Pay -

Withholding Tax Tables*

Withholding Tax Tables

Withholding Tax = [(Taxable Income - Bracket or Exemption) x %over] + Bracket Tax or Base Tax

= [(P11,287 – 10,000) x 20%] + 708.33

= [(1,287) x 20%] + 708.33

= [257.40] + 708.33

= P 965.73

Typical payroll

computation format

Ms. PastillasFor the period August 2015

Basic Pay P12,000.00Add:

Overtime P0.00Night Diff. - Holiday Pay - -

Gross Pay 12,000.00 Less:

Tardiness - Undertime - Leave w/o pay - Adjustments - SSS Dues 463.00 Pag-ibig Dues 100.00 Philhealth Dues 150.00 713.00

Taxable Income 11,287.00 Less:

W/Holding tax - SSS Loan - Pag-ibig Loan - Advances/vale - Union Dues - -

Add:Allowances - Comissions - -

Net Pay -

Typical payroll

computation format

Ms. PastillasFor the period August 2015

Basic Pay P12,000.00Add:

Overtime P0.00Night Diff. - Holiday Pay - -

Gross Pay 12,000.00 Less:

Tardiness - Undertime - Leave w/o pay - Adjustments - SSS Dues 463.00 Pag-ibig Dues 100.00 Philhealth Dues 150.00 713.00

Taxable Income 11,287.00 Less:

W/Holding tax 965.73 SSS Loan - Pag-ibig Loan - Advances/vale - Union Dues - 965.73

Add:Allowances - Comissions - -

Net Pay P10,321.27

FIN.