How to Setup HDMF MP2 in Sprout Payroll?

The MP2 Savings is a special savings facility with either a yearly or 5-year maturity, designed for Pag-IBIG Fund members who wish to save more and earn even higher dividends, in addition to their Pag-IBIG Regular Savings. The program is also open to pensioners and retirees who were former Pag-IBIG Fund members. Read: MP2 (Modified Pag-IBIG 2) Savings

Although it's not yet available in Sprout Payroll, there's a way to accommodate the deduction for now. To know more, keep on reading.

You can use Miscellaneous as the Adjustment Type for deductions in Sprout Payroll.  You could add the Pag-Ibig MP2 as a recurring adjustment. See our KB article here: Loans and Recurring Adjustments.

Below are the two ways how to upload this:

1. If this applies to a single employee only, this can be done by clicking Employees > Adjustments > Add Record.
 

 
2. If this applies to multiple employees, you can use the Import Adjustment Template instead by going to Employees > Adjustments > Download Excel Template.
 

 
Reminder: 

• Since MP2 is a continuous deduction, it would be better to set the Max Amount as 0 so that the Adjustment Amount set will continuously be deducted from the employee.
• MP2 will also not reflect in the Statutory Report since the adjustment type used is miscellaneous. Hence, you may use the payroll register report to get the amount. Read: How to Generate Payroll Register or Payroll Summary