Showing posts from 2022

Sweldong Pinoy and Budget Pinoy for 2023

Update : The increase in contribution for Pag-IBIG Fund (HDMF) and PhilHealth will not continue this year. The Sweldong Pinoy apps have been updated. Sweldong Pinoy is a salary calculator for Filipinos in computing net pay, withholding taxes and contributions to SSS/GSIS, PhilHealth and PAG-IBIG. Budget Pinoy is a tool for Filipinos in finding out how much their asking salary should be based on their budget. In 2023, the tax deductions will decrease but the contibutions for PhilHealth, SSS, and Pag-IBIG Fund will be higher. Tax According to Republic Act 10963 or Tax Reform for Acceleration and Inclusion (TRAIN), the taxes will be reduced starting 2023. SSS Pursuant to Republic Act No. 11199 (The Social Security Act of 2018), the monthly contributions of SSS members will be increased from the current 13% to 14% . Employer share will be 9.5% (from 8.5%) while the employee share will still be 4.5% . The minimum and maximum salary credits to be used for computation wi