Most companies require 8 hours per day from Monday to Friday on a monthly basis and Monday to Saturday for a daily rate. The minimum wage in the Philippines varies in different regions and the hourly rate computation must be based on the DOLE-provided hourly rate table.
Source of payroll process is coming from the timekeeping processing called as work hour distribution that confirmed by employee and approved by head department prior to payroll processing. HR Payroll System automatically computes salary based on their daily rate, allowance, or other benefits assigned in payroll information in employee table. Mandatory contributions like SSS, Philhealth, HDMF, tax deduction, loan deduction, adjustment pay, other income, and add back pay are automatically computed by the system. Employees with a minimum wage are tax-exempt under the TRAIN Law.
Daily Rate = 950.00
Gross Income = 20,613.34
Total Contribution = 2,093
Taxable Income = 18,520.34 -> (Gross Income - Total Contribution)
The taxable income 18,520.34 from Train Law Semi-Monthly Tax Table is under the salary bracket of 16,667 which the tax due is 1,250.00 + 25% over)
Tax = 18,520.34 - 16,667 = 1,853.34
Over = 1,853.34 * .25 = 463.34
= 1,250.00 + 463.34
Tax Due = 1,713.34
Net Pay = Gross Income - Total Deduction
= 20,613.34 - (2,093.00 + 1,713.34)
Take Home Pay: 16,807.00
Gross Income = 31,712.83
Total Contribution = 2,686.54Taxable Income = 29,026.29 -> (Gross Income - Total Contribution)
The taxable income 29,026.29 from Train Law Semi-Monthly Tax Table is under the salary bracket of 16,667 which the tax due is 1,250.00 + 25% over)
Tax = 29,026.29 - 16,667 = 12,359.29
= 12,359.29 * .25 = 3,089.82
= 1,250.00 + 3,089.82
Tax Due = 4,339.82
Net Pay = Gross Income - Total Deduction
= 31,712.83 - (2,686.54 + 4,339.82)
Take Home Pay: 24,686.47
The common functions of Human Resources include hiring, training, compensation and benefits, performance management, employee relations, and compliance with employment and labor laws.
Biometric Time Attendance is a system that is used to measure and record the attendance of employees in an organization. It typically uses biometric data such as fingerprints, facial recognition, and retinal scans to identify and authenticate employees.
Overtime data entry is a process used to ensure accurate and consistent tracking of overtime worked by employees. This data is used to calculate the hours worked by employees in a given period, as well as to calculate the overtime pay they are owed.
Investing in a comprehensive HR software system can help your HR department automate and streamline many of its processes. This system can include features such as applicant tracking, performance management, time and attendance tracking, and payroll processing.
Automate the loan deduction process by setting up a payroll deduction for each employee loan. This can be done by creating a payroll deduction category specifically for the loan and linking it to the employee's loan.
Automated timekeeping and attendance solutions make it easier for employees to track their time and attendance. This can lead to increased productivity, as employees are better able to focus on their work rather than worrying about the accuracy of their time tracking.
Define the Goals and Objectives of the HRIS Software Implementation: Identify the purpose of the new system and how it will benefit the organization.
Designed to track an employee’s time worked and generate an accurate payroll, system allows employees to clock in and out, track hours worked, view their timecards, and view their pay stubs.
Paperless timekeeping processes can save businesses time and money by reducing the time spent handling paperwork and manual data entry.
The new SSS contribution table effective January 2023 which applies to employers and employees monthly contribution.
Contact Us, those organizations need to modernize HR Management Tools and a paperless solution to speed-up the entire process of human resources and the automation of timekeeping to payroll processing that every process module has approvals.