How to Compute Salaries, Wages, and Benefits
About the Training/Workshop
Overview
Computing salaries and wages has now become more complicated than ever. It is essential for those tasked with this function to know the correct way so as to avoid labor problems and future liabilities.
Objective
- To know the proper way of computing salaries, wages, and benefits.
Who Should Participate
- Those in charge of computing the payroll
- Business owners
- Those new to HR
Key Topics
I. Government-Mandated Benefits
a. Institutional
1. Social Security System (SSS)
- Membership
- Contribution Schedule
- Benefits (Loan, Sickness, Disability, Pension)
- Remittance (Contribution & Loans)
2. Philippine Health Insurance Corporation (Philhealth)
- Membership
- Contribution Schedule
- Hospitalization Claims / Benefits
- Remittance (Contribution)
3. Home Development Mutual Fund (Pag-ibig)
- Membership
- Contribution Schedule
- Benefits (Housing Loan and Multi-Purpose Loan)
- Remittance (Contribution & Loans)
b. Personal/Individual
1. 13th Month Pay
2. Paternity and Maternity Leave
3. Overtime and Premium Pay
4. Service Incentive Leave
5. Withholding tax
II. Company-Initiated Benefits
a. Leaves (e.g., Vacation, Sick, Emergency)
b. Performance-Based Increase
c. Bonuses (Quarterly, Mid-year)
d. Offsetting and Undertime
e. Allowances (e.g, Meal, Transportation, etc.)
f. Loans (e.g. Financial, Car or Housing Loan)
III. Withholding Tax
IV. Application of Wage Distortion
V. Sample Policies
VI. Workshop
Note: Please bring calculator
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TIME: 9:00 AM to 4:00 PM
VENUE: Unit 2 2/F Intellect Bldg. MacArthur Highway, Brgy. San Sebastian, Tarlac City, Tarlac
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