The Government Deduction Tables section displays the deduction tables for each of the government agencies which require contributions be withheld from employee wages.
Withholding Tax Tables
Withholding tax table is displayed in each pay period processing type and exemption status
The Wage Floor and Wage Ceiling columns show the range at which a particular employee’s Regular Income must fall in. The Of Wage Over will be deducted from the Regular Income before adding the supplementary income. The Deduction column stores the fixed amount to be deducted from the employee’s gross pay based on his bracket. The Plus % column stores how much percentage of the total taxable income less Of Wage Over must be added to the fixed Deduction.
See sample computation below for a monthly waged employee who has a regular compensation of P12,000, supplementary compensation of P5,000, and Single (S) tax code.
Regular Compensation: 12,000.00
Less: Of Wage Over 10,000.00
2,000.00
Add: Supplementary compensation 5,000.00
Total: 7,000.00
Tax on excess (P7,000 x 20%) P 1,400.00
Tax on P10,000.00 708.33
Withholding tax P 2,108.33
Note: You can set the Basis for Regular & Supplementary Income (Attendance Pay) in Preferences->Settings->Deductions. This setting has a big impact in Annualization process. During Annualization process, year-to-date Regular & Supplementary Income are added up prior to matching up to which bracket the taxable income must fall.
The Tax Reform for Acceleration and Inclusion Act (TRAIN) Law Phoenix Integration
Phoenix Payroll is TRAIN Law-ready effective January 1, 2018. The smooth integration was done and released on January 5, 2018.
SSS Contribution Tables
SSS Employee and Employer Shares Tables and the Employer Contribution Table
PhilHealth Contribution Tables
PhilHealth Personal and Employer Shares Tables
Pag-Ibig Fund Contribution Tables
Pag-Ibig Employee and Employer Shares Tables
GSIS Contribution Tables
GSIS Employee and Employer Shares Tables and the Employee Contribution Table for Regular and Judiciary Members
