Payroll Services in the Philippines
Our Certified Payroll Professionals (CPPs) provide payroll processing services to companies looking to set up operations in the Philippines. Our CPPs make use of a cloud-based payroll software to compute salaries, tax deductions, and government contributions with speed and accuracy.
We are constantly up-to-date with new amendments in Philippine labor laws and uphold strict compliance with existing rules and regulations to maintain the quality of services we offer. We made significant updates to our previous payroll computation following the new withholding tax rates prescribed under Republic Act 10963 or TRAIN Law – a new tax law implemented on January 2018 in the Philippines.
Payroll Computation under TRAIN Law: Effective from 2018 to 2022
- Maintenance of tax table (withholding tax table uploaded from BIR)
- Determination of contributions to SSS, PhilHealth, and Home Development Mutual Fund (HDMF)
List of Requirements for Processing Payroll
- Employee details and a copy of the Contract of Employment for each employee
- BIR Form 2316 from previous employer
- Monthly timesheet details, including the number of hours worked, overtime hours, tardiness, and absences
- Bank transmittal report reflecting the name of the employees, their corresponding net pay, and individual bank account number where the payroll amount shall be credited
- Preparation of remittances to government agencies, such as:
- Social Security System
- Philippine Health Insurance Corporation (PhilHealth)
- Home Development Mutual Fund (Pag-IBIG Fund)
Get started with K&C on your payroll processing needs
Save time and reduce costs by outsourcing your payroll processes with us. Engage our Certified Payroll Professionals to get started.