How Much Money Are We Required to Contribute?
Originally, I started writing this to be posted as a Facebook status message, but then it got a little too long, so I decided to make a blog post out of it. Let's do a little math. Say for example, we have a call center agent whose salary is P20,000 in a month. Her mandatory SSS contribution is set to P1,560 per month since her salary bracket is above P15,000 (this is set to be increased come January 2014, by the way) . She also has HDMF, PhilHealth and 12% salary taxes to pay. If, for example, she gets off 20,000 clean in a month, that's 12% Tax: Goes to the Bureau of Internal Revenue, which is used to pay ordinary Government employees (their wages aren't much, mind you, I would know) , the Police, the Military, the Congress, the Senate, the President, etc. There's also the Pork Barrel, the DAP, etc. 20,000 x 0.12 = P2,400 Social Security System: P1,560 PhilHealth: For a salary base of 20,000, expect a P500 deduction from your payroll monthly(http:/