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.
According to Republic Act 10963 or Tax Reform for Acceleration and Inclusion (TRAIN), the taxes will be reduced starting 2023.
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).
In accordance with the Universal Health Care Act (Republic Act No. 11223), the PhilHealth contribution rate will now be 4.5% (from 4.0%) and the income ceiling will increase from 80,000 to 90,000.
Pag-IBIG Fund members' mandatory monthly savings was also scheduled to increase from the current P100 to 150 by January 2021 and to 200 by January 2023. The first increase has been deferred both in 2021 and 2022.
Sweldong Pinoy and Budget Pinoy Updates
We have updated sweldongpinoy.com, budgetpinoy.com, and the Sweldong Pinoy (version 4.5) and Budget Pinoy (version 1.3) Android apps with the changes to the contributions. The apps have a dropdown so you can choose between the 2022 and 2023 rates. With this, you compare how your salary will change.
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