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Showing posts from November, 2022

Sweldong Pinoy and Budget Pinoy for 2023

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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 will now be 4,000 and 30,000 (from 3,000 and 25,000). PhilHealth In accordance with the Universal Health Care Act (Republic Act No. 11223), the PhilH