Compute Net Salary

[faolafini]

oi mga HR and recruitment dyan ! tatanong lang po ako ....

mag demo naman kayo kung mag kano ang matitira sa sweldo. Diba para may idea ang mga tao sa matatangap nila kada sweldo. just need the basic computation pls include all government-mandated deductions para realistic.

salamat in advance

First example ..

Php39000.00 gross/base salary

[faolafini]

??? kahit yun income tax /withholding tax lang walang may alam kung paano mag compute ??

[rychu]

i'm not HR ha, but here's how I understand this.

Pre-req
1. Get the witholding tax table from BIR. You'll use that.
2. Identify whether you're declared as single, married or head of family and if you have dependents.

Assuming you are single, for your base pay of 39,000, you belong to the bracket of 22,500 - 43,333. So, you need to use this formula.
4166.67 + (39,000 - 22,500) x 30%. Your witholding tax is 9116.67.

Deduct your other legal deductions pa (SSS, Philhealth...)

[faolafini]

nyaks!! ang laki naman!!!

waaaaaaaaaaaaaaaaaaa

[whattodo]

i'm not HR ha, but here's how I understand this.

Pre-req
1. Get the witholding tax table from BIR. You'll use that.
2. Identify whether you're declared as single, married or head of family and if you have dependents.

Assuming you are single, for your base pay of 39,000, you belong to the bracket of 22,500 - 43,333. So, you need to use this formula.
4166.67 + (39,000 - 22,500) x 30%. Your witholding tax is 9116.67.

Deduct your other legal deductions pa (SSS, Philhealth...)

AFAIK, you need to deduct your SSS, PhilHealth and other government contributions from your salary first since these are non-taxable. Also, the tax table is for your semi-monthly salary so computations should go this way:

39,000 / 2 = 19,500 --> semi-monthlay salary
19,500 - 500(SSS*) - 250(PhilHealth*) = 18,750 ---> taxable semi-monthly salary

Assumming your status is single you'll be using a fixed tax rate of 2083.33, an exemption of 11,250, and a tax of 30% for amounts that exceed your exempted salary.

18,750 - 11,250 = 7,500
7,500 X 0.30 = 2,250
2,250 + 2083.33 = 4333.33 --> total semi-monthly tax

Of course sa susunod mong semi-monthly computation, wala na dun yung SSS and PhilHealth kaya your tax would become (using the same computation above) P4,558.33. So your total monthly tax would be P8,891.66

*these are assumptions only, kindly refer to your SSS and PhilHealth contribution table

[equestrienne18]

whattodo, how about if PHP 15,500? magkano kaya net salary matitira? pwed paki show rin nang computation? :-)

[son23kat]

^ around 12k+

[funzen]

I think it would be best to put the whole withholding tax table here (or a link) and let people compute their withholding..

@faolafini, ok lan yan.. ako nga, asa 34% bracket na. If only our taxes are put into good use. hay.

[equestrienne18]

^ around 12k+

thanx son23kat

[whattodo]

whattodo, how about if PHP 15,500? magkano kaya net salary matitira? pwed paki show rin nang computation? :-)

ok =)
With a salary of 15,500, your semi-monthly would then be 7,750. Then assuming your status is Single, you'll then have a fixed tax rate of 937.5, an exemption of 6,667 and a tax of 25% for amounts exceeding your exemption.

1st semi-monthly net income:
7750 - 500(SSS) - 187.50(PhilHealth) = 7062.5
7062.5 - 6667 = 395.5
(395.5 * 0.25) + 937.5 = 1,333

2nd semi-monthly net income:
7750 - 6667 = 1083
(1083 * 0.25) + 937.5 = 1208.25

So, your total monthly income tax would be P2,541.25. Actual amount na yung SSS and Philhealth.

Meron na ko ginawa na tax table with sample computations dati, I'll upload it sa rapidshare or megaupload later (blocked kasi yung sites dito sa office) so anyone can use it.

Oh, btw, di nga pala ako HR, I'm from IT pero hobby ko lang talaga mag-compute ng salary ko para I know tama naibibigay sa akin =D

[equestrienne18]

whattado kasali na ba ang HDMF/Pag-ibig deduction? magkano kaya? parang hindi pa pero salamat ha :-)

[whattodo]

whattado kasali na ba ang HDMF/Pag-ibig deduction? magkano kaya? parang hindi pa pero salamat ha :-)

Hindi pa, kaya deduct mo muna siya before you compute for your tax.

[equestrienne18]

okies. tnx agen whattodo at least my idea na ako

[hurricane23]

I think it would be best to put the whole withholding tax table here (or a link) and let people compute their withholding..

@faolafini, ok lan yan.. ako nga, asa 34% bracket na. If only our taxes are put into good use. hay.

I think 32% lang and not 34%...but who cares...malaki pa rin bawas!!! Kapag sa ibang bansa ka tax-exempted, right?

[faolafini]

Oh, btw, di nga pala ako HR, I'm from IT pero hobby ko lang talaga mag-compute ng salary ko para I know tama naibibigay sa akin =D

ako din sa it ako ... dati wala akong pakialam sa mga ganitong bagay .. kasi di kla pansin pansin kasi maliit .. ngayon hindi na ... hehehheheheh

[bzbee9]

I think 32% lang and not 34%...but who cares...malaki pa rin bawas!!! Kapag sa ibang bansa ka tax-exempted, right?

not in usa. you pay Fed & state/local(where applicable) taxes
if youre working as an expat, you dont have to pay FICA(SS) & Medicare (7.65% of gross)

[funzen]

I think 32% lang and not 34%...but who cares...malaki pa rin bawas!!! Kapag sa ibang bansa ka tax-exempted, right?

I thought 32% pa rin.. but last I checked with BIR, 34% na...

[coolsplash]

whattodo,

pano malalaman if u fall under that fixed rate?

i have a semi-monthly table here kc.

1st column - un *** mga S, HF, M... etc
2nd column - un *** mga exemptions (20k, 25k, 32k, etc..)
3rd to 4th column - may nkalagay na AMT1, AMT2 .... AMT7..
------> e2 npo *** may 6,667, fix rate na nakita from above na computation nio..

gets nio po?

then, i can see the fixed amount sa pinakababa na row.
ten the last row is *** percentage..

un lang po *** di ko ma-gets.. kung pano nalalaman un fixed rate..

my tax unit is M with no dependent. saan nagffall *** fixed rate ko and the percentage?

thanks so much..

[whattodo]

whattodo,

pano malalaman if u fall under that fixed rate?

i have a semi-monthly table here kc.

1st column - un *** mga S, HF, M... etc
2nd column - un *** mga exemptions (20k, 25k, 32k, etc..)
3rd to 4th column - may nkalagay na AMT1, AMT2 .... AMT7..
------> e2 npo *** may 6,667, fix rate na nakita from above na computation nio..

gets nio po?

then, i can see the fixed amount sa pinakababa na row.
ten the last row is *** percentage..

un lang po *** di ko ma-gets.. kung pano nalalaman un fixed rate..

my tax unit is M with no dependent. saan nagffall *** fixed rate ko and the percentage?

thanks so much..

dun sa row ng status M na merong AMT1 to AMT7, look for the value nearest but not more than your semi-monthly salary. Once you get this value, the fixed rate and the tax that is at the same column are the values you'll be using.

[Mhixxgirl]

Question po!

Panu po ang computation for form 1701? Kasi sa sales ako eh so ang binigay lang sa akin ng company ko is "Certificate of Credible Tax Withheld at Source"

Married with 3 dependents.

Please please answer naman po.