When you outsource your payroll processes to InCorp Global, we make use of cloud-based payroll software to compute the salaries, tax deductions, and government contributions of each employee to help you make the right tax deductions and add the necessary allowances according to regulations in the Philippines.
Payroll Processing in the Philippines
All registered companies in the Philippines are mandated under the law to pay monthly contributions to four government agencies:
- Bureau of Internal Revenue (or BIR, the national taxing authority)
- Social Security System (or SSS, the national social insurance agency)
- Philippine Health Insurance Corporation (or PhilHealth, the national health insurance agency)
- Home Development Mutual Fund (or Pag-IBIG Fund, the national housing loan agency)
To complete payroll processes, companies are required to perform the following:
- Declare monthly salaries of all employees
- Provide electronic copies of payslips
- Pay tax dues to BIR
- Pay contributions to SSS, PhilHealth, and Pag-IBIG Fund
Services Offered When You Outsource Payroll Processes to Us
We offer the following service package to help you run payroll and generate payslips on time and in line with Philippines regulations:
- Compute gross salary, tax deductions, and government contributions of each employee
- Generate payroll reports
- Issue password-encrypted payslips to each employee via email
- Submit final payroll reports to appropriate government offices
- Compute final pay of resigned employees and issue Certificate of Compensation
Processing payroll in the Philippines is a recurring and time-bound process, so we designed our services to accommodate your payout schedules.
Our Process Timeline is as Follows:
| Timeline | Task |
|---|---|
|
5 calendar days before scheduled payout |
Client sends summary of hours worked and salary adjustments of each employee |
|
We compute salary, tax due, and government contributions. After computation, we send payroll reports back to client for review and approval. |
|
|
Monthly |
Ongoing engagement and payslip generation |
Having garnered years of experience, Incorp Group is well-situated to serve companies regionally. Your ultimate go-to for tailored advice and corporate services in the Philippines, our team of consultants are highly equipped to handle matters related to payroll outsourcing and processing. Save time and cut back on labour costs by engaging in our Payroll Processing services today – for more information, get in touch with our team.
FAQs
All registered companies in the Philippines are required by the law to pay monthly contributions to the following 4 government agencies:
- Bureau of Internal Revenue (BIR)
- Social Security System (SSS)
- Philippine Health Insurance Corporation (PhilHealth)
- Home Development Mutual Fund (Pag-IBIG Fund)
Companies in the Philippines must fulfil the following 4 requirements to complete the payroll processes:
- Declare monthly salaries of all employees
- Provide electronic copies of payslips
- Pay tax dues to BIR
- Pay contributions to SSS, PhilHealth, and Pag-IBIG Fund
At InCorp Global, we offer the following service package to help your company run payroll and generate payslips on time that is compliant with the Philippines regulations:
- Compute gross salary, tax deductions, and government contributions of each employee
- Generate payroll reports
- Issue password-encrypted payslips to each employee via email
- Submit final payroll reports to appropriate government offices
- Compute final pay of resigned employees and issue Certificate of Compensation
