Philippines Statutory Rate Tables – A summary of the activity

Through this activity, you can specify a rate table for social security (SS) and Philippines health based on which the employee’s tax is computed. These tax rates are dependent on the income earned by the employee.

This activity has two tabs namely:

• Social Security - The SS is a publicly managed pension institution responsible for providing social protection to all private sector workers in the Philippines. The mandatory social security program administered by the SSS basically provides financial benefits to qualified members to cover real life contingencies such as retirement, disability, death, maternity, sickness and employment-related injury that may result in income loss or financial burden.

• Philippines Health - Philippines Health is administered by the Philippine National Health Corporation, which is designed to provide employees with a practical means of paying for adequate medical care in the Philippines.

You can also modify the details specified earlier.

Getting familiar with the pages inside