The Philippine Health insurance Corporation is a government agency mandated to implement universal health coverage for all Filipinos. The monthly premium contributions are at the rate of 3.00% computed straight-up based on the salary, with a salary floor of P10,000.00 and a ceiling of P60,000.00. Unlike the Social Security Service (SSS) contribution, the PhilHealth contributions are to be equally shared by the employees and their employer. The table below is the new basis of the computation. These began to take effect on December 07, 2019.
On Sprout Payroll, go to Set up > Company > Profile > Government Contributions
This is how to compute monthly PhilHealth contributions. The basis for Philhealth Contribution should be monthly basic salary only.
Sample Philhealth Computation: PhilHealth contribution based on basic pay (salary)
- For instance, the employee has a monthly basic salary of P15,000. Following the table above, the monthly premium will be P450.00 (P15,000 X 3.00%), which will be divided by the employee and employer, hence P225.00 each.
Comments
0 comments
Article is closed for comments.