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SSS TABLE CONTRIBUTION TABLE FOR REFERENCE

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I NEED TO DO THE GIVEN DATE

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GIVEN DATA Illustrative Problem Jane Torres, CPA employs three professional staff. Payroll for the first half of the month is paid on the 20th of the month, and payroll for the second half of the month is paid on the 5th day of the following month. Deductions for employee's share of the premiums for SSS, Philhealth and HDMF are split to two payroll periods. The list of the three staff and their corresponding monthly salary rates follows: Name Pearl Lee Kay Sy Elle Tee Monthly Salary P 19,000.00 24,400.00 37,000.00 Requirement 1, Compute and record the payroll for the first half of September 2021. Requirement 2, Record the accrual of payroll for second half of September 2021 Requirement 3, Compute and record the payroll taxes for September 2021 Requirement 4, Record the payment of salaries for 2nd half of September, and the remittance of deductions withheld and payroll taxes OLUTION SHEET FOR MASTERY PROBLEM ON PAYROLL REGISTER djust or modify the contents of this sheet, if necessary Payroll Register SSS-MPF Employee Name Monthly Gross Pay Gross Pay SSS PH HDMF Taxable Income Withholding Tax Net Pay Employer's Payroll Taxes SSS EC SSS-MPF Employee Name Monthly Gross Pay PH HDMF TOTAL Employee Pay Slip Employee Name: Employee No.: Pay Period: Monthly Semi-Monthly Gross Pay sss PH HDMF Taxable income Withholding Tax Net Pay Date Account Name Debit Credit Date Account Name Debit Credit Date Account Name Debit Credit Date Account Name Debit Credit Date Account Name Debit Credit Table 1. ANNUAL TAX TABLE EFFECTIVE DATE JANUARY 1, 2018 to DECEMBER 31, 2022 Not over P250,000 0% Over P250,000 but not over P400,000 20% of the excess over P250,000 Over P400,000 but not over P800,000 P30,000 + 25% of the excess over P400,000 Over P800,000 but not over P2,000,000 P130,000 + 30% of the excess over P800,000 Over P2,000,000 but not over P8,000,000 P490,000 + 32% of the excess over P2,000,000 Over P8,000,000 P2,410,000+ 35% of the excess over P8,000,000 EFFECTIVE DATE JANUARY 1, 2023 Not over P250,000 0% Over P250,000 but not over P400,000 15% of the excess over P250,000 Over P400,000 but not over P800,000 P22,500 + 20% of the excess over P400,000 Over P800,000 but not over P2,000,000 P102,500 + 25% of the excess over P800,000 Over P2,000,000 but not over P8,000,000 P402,500 + 30% of the excess over P2,000,000 Over P8,000,000 P2,202,500 + 35% of the excess over P8,000,000 5 P5,479 - P21,917 P1,342.47 +32% over P5,479 5 P21,918 and above P6,602.74 +35% over P21.918 6 P38,462 - P153,845 P153,846 and above Table 2. WITHHOLDING TAX TABLE REVISED WITHHOLDING TAX TABLE Effective January 1, 2018 to December 31, 2022 DAILY 1 3 4 Compensation Range P685 and below P685-P1,095 P1,096 - P2,191 P2,192 - P5,478 Prescribed Withholding 0.00 +20% over P82.19 +25% over P356.16 +30% over 0.00 P685 P1,096 P2.192 WEEKLY 1 2 3 4 P4,808 and Compensation Range P4,808 - P7,691 P7,692 - P15,384 below P15,385 - P38,461 Prescribed Withholding 0.00 +20% over P576.92 +25% over P2,500.00 +30% over 0.00 Tax P4.808 p7,692 p15,385 SEMI-MONTHLY 1 2 3 4 P10,417 and Compensation Range P10,417 - P16,666 P16,667 - P33,332 below P33,333 - P83,332 Prescribed Withholding 0.00 +20% over P1,250.00 +25% over P5,416.67 +30% over 0.00 P10,417 P16,667 P33,333 MONTHLY 1 2 4 P20,833 and Compensation Range P20,833 - P33,332 below P66,667 - P166,666 P33,333 - P66,666 Prescribed Withholding 0.00+20% over P2,500.00 +25% over P10,833.33 +30% over 0.00 Tax P20,833 33,333 P66,667 P9,423.08 +32% over P38,462 5 P46,346.15 +35% over P153,846 6 P83,333 - P333,332 P20,416.67 +32% over P83,333 5 P333,333 and above P100,416.67 +35% over P333,333 P166.667 -P666,666 P666,667 and above P40,833.33 +32% over P166,667 P200,833.33 +35% over P666,667 AMOUNT OF CONTRIBUTIONS EMPLOYEE'S MANDATORY PROVIDENT COMPENSATION FUND TOTAL EE ER - - - Monthly Salary Credit RANGE OF Regular Social COMPENSATION Security/ Mandatory EGULAR SOCIAL SECURIT Total Employees Provident Compensation Fund ER EE TOTAL 12,750 - 13,249.99 13,000.00 13.000.00 1,105.00 585 1,690.00 13,250 - 13,749.99 13,500.00 13.500.00 1,147.50 607.5 1.755.00 13,750 - 14,249.99 14,000.00 14,000.00 1,190.00 630 1,820.00 14,250 - 14,749.99 14.500.00 14,500.00 1,232.50 652.5 1.885.00 14,750 - 15,249.99 15,000.00 15,000.00 1,275.00 675 1.950.00 15,250 - 15,749.99 15.500.00 15,500.00 1,317.50 697.5 2.015.00 15,750 - 16,249.99 16,000.00 16,000.00 1,360.00 720 2.080.00 16,250 - 16,749.99 16,500.00 16.500.00 1,402.50 742.5 2.145.00 16,750 - 17,249.99 17,000.001 17,000.00 1,445.00 765 2,210.00 17,250 - 17,749.99 17,500.00 17,500.00 1,487.50 787.5 2,275.00 17,750 -18,249.99 18,000.00 18,000.00 1,530.00 810 2,340.00 18,250 - 18,749.99 18,500.00 18,500.00 1,572.50 832.5 2.405.00 18,750 - 19,249.99 19.000.001 19,000.00 1.615.00 855 2.470.00 19,250 - 19.749.99 19.500.00 19,500.00 1,657.50 877.5 2.535.00 19,750 - 20,249.99 20,000.00 20,000.00 1,700.00 900 2.600.000 20,250 - 20,749.99 20,000.00 500 20,500.00 1,700.00 900 2,600.00 20,750 - 21,249.99 20,000.00 1,000.00 21.000.00 1,700.00 900 2,600.000 21,250 -21,749.99 20,000.00 1,500.00 21,500.00 1,700.00 900 2,600.00 21,750 - 22,249.99 20.000.00 2,000.00 22,000.00 1,700.00 900 2,600.00 22,250 - 22,749.99 20.000.00 2,500.00 22,500.00 1,700.00 900 2.600.00 22,750 - 23,249.99 20,000.00 3,000.00 23,000.00 1,700.00 900 2.600.00 23,250 - 23,749.99 20,000.00 3.500.00 23,500.00 1,700.00 900 2,600.00 23,750 - 24,249.99 20,000.00 4,000.00 24.000.00 1,700.00 900 2,600.00 24,250 - 24,749.99 20,000.00 4,500.00 24.500.00 1,700.00 900 2,600.00 24,750 - over 20,000.00 5,000.00 25,000.00 1,700.00 900 2,600.00 ER 101 101 101 101 301 30 301 30 301 301 30 301 301 301 301 301 30 30 301 30 30 301 30 30 - TOTAL 10 10 10 10 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 EE TOTAL ER EE TOTAL 1,115.00 585 1.700.00 1,157.50 607.5 1,765.00 1,200.00 630 1,830.00 1,242.50 652.5 1,895.00 - 1,305.00 675 1,980.000 1,347.50 697.5 2,045.00 1,390.00 720 2.110.00 - 1,432.50 742.5 2.175.00 1,475.00 765 2,240.00 1,517.50 787.5 2,305.00 - 1,560.00 810 2,370.00 1,602.50 832.5 2,435.00 - 1,645.00 855 2.500.00 - 1,687.50 877.5 2.565.00 1.730.00 9002.630.00 22.5 65 1,772.50 922.5 2.695.00 45 130 1.815.00 945 2,760.000 67.5 195 1,857.50 967.5 2,825.00 90 260 1,900.00 990 2.890.00 112.5 325 1,942.50 1,012.50 2,955.00 135 390 1.985.00 1.035.00 3.020.00 157.5 455 2,027.50 1,057.50 3,085.00 180 520 2.070.00 1,080.00 3.150.00 202.5 585 2,112.50 1,102.50 3.215.00 225 650 2,155.00 1,125.00 3,280.00 - 42.5 85 127.5 170 212.5 255 297.5 340 382.5 425 30 PhilHealth Monthly Premiums 2021 Year Premium Rate Monthly Premium P300.00 2021 Monthly Basic Salary P10,000.00 P10,000.01 to P59,999.99 P60,000.00 3.00% P300.00 to P1,800.00 P1,800.00 Pag-IBIG Contribution Table for 2021 Monthly Compensation Employee Share Employer Share P1,500 and below 1% 2% Over 1,500 2% 2% As the Pag-IBIG contribution table shows, the employee share is pegged at 1% if his monthly compensation is 1,500 and below, and 2% if monthly compensation is more than 1,500. The employer share is set at 2% regardless of the employee's monthly compensation. Take note that the maximum monthly compensation used for computing employee contributions is P5,000, which means that the maximum employee and employer contributions are both P100. GIVEN DATA Illustrative Problem Jane Torres, CPA employs three professional staff. Payroll for the first half of the month is paid on the 20th of the month, and payroll for the second half of the month is paid on the 5th day of the following month. Deductions for employee's share of the premiums for SSS, Philhealth and HDMF are split to two payroll periods. The list of the three staff and their corresponding monthly salary rates follows: Name Pearl Lee Kay Sy Elle Tee Monthly Salary P 19,000.00 24,400.00 37,000.00 Requirement 1, Compute and record the payroll for the first half of September 2021. Requirement 2, Record the accrual of payroll for second half of September 2021 Requirement 3, Compute and record the payroll taxes for September 2021 Requirement 4, Record the payment of salaries for 2nd half of September, and the remittance of deductions withheld and payroll taxes OLUTION SHEET FOR MASTERY PROBLEM ON PAYROLL REGISTER djust or modify the contents of this sheet, if necessary Payroll Register SSS-MPF Employee Name Monthly Gross Pay Gross Pay SSS PH HDMF Taxable Income Withholding Tax Net Pay Employer's Payroll Taxes SSS EC SSS-MPF Employee Name Monthly Gross Pay PH HDMF TOTAL Employee Pay Slip Employee Name: Employee No.: Pay Period: Monthly Semi-Monthly Gross Pay sss PH HDMF Taxable income Withholding Tax Net Pay Date Account Name Debit Credit Date Account Name Debit Credit Date Account Name Debit Credit Date Account Name Debit Credit Date Account Name Debit Credit Table 1. ANNUAL TAX TABLE EFFECTIVE DATE JANUARY 1, 2018 to DECEMBER 31, 2022 Not over P250,000 0% Over P250,000 but not over P400,000 20% of the excess over P250,000 Over P400,000 but not over P800,000 P30,000 + 25% of the excess over P400,000 Over P800,000 but not over P2,000,000 P130,000 + 30% of the excess over P800,000 Over P2,000,000 but not over P8,000,000 P490,000 + 32% of the excess over P2,000,000 Over P8,000,000 P2,410,000+ 35% of the excess over P8,000,000 EFFECTIVE DATE JANUARY 1, 2023 Not over P250,000 0% Over P250,000 but not over P400,000 15% of the excess over P250,000 Over P400,000 but not over P800,000 P22,500 + 20% of the excess over P400,000 Over P800,000 but not over P2,000,000 P102,500 + 25% of the excess over P800,000 Over P2,000,000 but not over P8,000,000 P402,500 + 30% of the excess over P2,000,000 Over P8,000,000 P2,202,500 + 35% of the excess over P8,000,000 5 P5,479 - P21,917 P1,342.47 +32% over P5,479 5 P21,918 and above P6,602.74 +35% over P21.918 6 P38,462 - P153,845 P153,846 and above Table 2. WITHHOLDING TAX TABLE REVISED WITHHOLDING TAX TABLE Effective January 1, 2018 to December 31, 2022 DAILY 1 3 4 Compensation Range P685 and below P685-P1,095 P1,096 - P2,191 P2,192 - P5,478 Prescribed Withholding 0.00 +20% over P82.19 +25% over P356.16 +30% over 0.00 P685 P1,096 P2.192 WEEKLY 1 2 3 4 P4,808 and Compensation Range P4,808 - P7,691 P7,692 - P15,384 below P15,385 - P38,461 Prescribed Withholding 0.00 +20% over P576.92 +25% over P2,500.00 +30% over 0.00 Tax P4.808 p7,692 p15,385 SEMI-MONTHLY 1 2 3 4 P10,417 and Compensation Range P10,417 - P16,666 P16,667 - P33,332 below P33,333 - P83,332 Prescribed Withholding 0.00 +20% over P1,250.00 +25% over P5,416.67 +30% over 0.00 P10,417 P16,667 P33,333 MONTHLY 1 2 4 P20,833 and Compensation Range P20,833 - P33,332 below P66,667 - P166,666 P33,333 - P66,666 Prescribed Withholding 0.00+20% over P2,500.00 +25% over P10,833.33 +30% over 0.00 Tax P20,833 33,333 P66,667 P9,423.08 +32% over P38,462 5 P46,346.15 +35% over P153,846 6 P83,333 - P333,332 P20,416.67 +32% over P83,333 5 P333,333 and above P100,416.67 +35% over P333,333 P166.667 -P666,666 P666,667 and above P40,833.33 +32% over P166,667 P200,833.33 +35% over P666,667 AMOUNT OF CONTRIBUTIONS EMPLOYEE'S MANDATORY PROVIDENT COMPENSATION FUND TOTAL EE ER - - - Monthly Salary Credit RANGE OF Regular Social COMPENSATION Security/ Mandatory EGULAR SOCIAL SECURIT Total Employees Provident Compensation Fund ER EE TOTAL 12,750 - 13,249.99 13,000.00 13.000.00 1,105.00 585 1,690.00 13,250 - 13,749.99 13,500.00 13.500.00 1,147.50 607.5 1.755.00 13,750 - 14,249.99 14,000.00 14,000.00 1,190.00 630 1,820.00 14,250 - 14,749.99 14.500.00 14,500.00 1,232.50 652.5 1.885.00 14,750 - 15,249.99 15,000.00 15,000.00 1,275.00 675 1.950.00 15,250 - 15,749.99 15.500.00 15,500.00 1,317.50 697.5 2.015.00 15,750 - 16,249.99 16,000.00 16,000.00 1,360.00 720 2.080.00 16,250 - 16,749.99 16,500.00 16.500.00 1,402.50 742.5 2.145.00 16,750 - 17,249.99 17,000.001 17,000.00 1,445.00 765 2,210.00 17,250 - 17,749.99 17,500.00 17,500.00 1,487.50 787.5 2,275.00 17,750 -18,249.99 18,000.00 18,000.00 1,530.00 810 2,340.00 18,250 - 18,749.99 18,500.00 18,500.00 1,572.50 832.5 2.405.00 18,750 - 19,249.99 19.000.001 19,000.00 1.615.00 855 2.470.00 19,250 - 19.749.99 19.500.00 19,500.00 1,657.50 877.5 2.535.00 19,750 - 20,249.99 20,000.00 20,000.00 1,700.00 900 2.600.000 20,250 - 20,749.99 20,000.00 500 20,500.00 1,700.00 900 2,600.00 20,750 - 21,249.99 20,000.00 1,000.00 21.000.00 1,700.00 900 2,600.000 21,250 -21,749.99 20,000.00 1,500.00 21,500.00 1,700.00 900 2,600.00 21,750 - 22,249.99 20.000.00 2,000.00 22,000.00 1,700.00 900 2,600.00 22,250 - 22,749.99 20.000.00 2,500.00 22,500.00 1,700.00 900 2.600.00 22,750 - 23,249.99 20,000.00 3,000.00 23,000.00 1,700.00 900 2.600.00 23,250 - 23,749.99 20,000.00 3.500.00 23,500.00 1,700.00 900 2,600.00 23,750 - 24,249.99 20,000.00 4,000.00 24.000.00 1,700.00 900 2,600.00 24,250 - 24,749.99 20,000.00 4,500.00 24.500.00 1,700.00 900 2,600.00 24,750 - over 20,000.00 5,000.00 25,000.00 1,700.00 900 2,600.00 ER 101 101 101 101 301 30 301 30 301 301 30 301 301 301 301 301 30 30 301 30 30 301 30 30 - TOTAL 10 10 10 10 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 EE TOTAL ER EE TOTAL 1,115.00 585 1.700.00 1,157.50 607.5 1,765.00 1,200.00 630 1,830.00 1,242.50 652.5 1,895.00 - 1,305.00 675 1,980.000 1,347.50 697.5 2,045.00 1,390.00 720 2.110.00 - 1,432.50 742.5 2.175.00 1,475.00 765 2,240.00 1,517.50 787.5 2,305.00 - 1,560.00 810 2,370.00 1,602.50 832.5 2,435.00 - 1,645.00 855 2.500.00 - 1,687.50 877.5 2.565.00 1.730.00 9002.630.00 22.5 65 1,772.50 922.5 2.695.00 45 130 1.815.00 945 2,760.000 67.5 195 1,857.50 967.5 2,825.00 90 260 1,900.00 990 2.890.00 112.5 325 1,942.50 1,012.50 2,955.00 135 390 1.985.00 1.035.00 3.020.00 157.5 455 2,027.50 1,057.50 3,085.00 180 520 2.070.00 1,080.00 3.150.00 202.5 585 2,112.50 1,102.50 3.215.00 225 650 2,155.00 1,125.00 3,280.00 - 42.5 85 127.5 170 212.5 255 297.5 340 382.5 425 30 PhilHealth Monthly Premiums 2021 Year Premium Rate Monthly Premium P300.00 2021 Monthly Basic Salary P10,000.00 P10,000.01 to P59,999.99 P60,000.00 3.00% P300.00 to P1,800.00 P1,800.00 Pag-IBIG Contribution Table for 2021 Monthly Compensation Employee Share Employer Share P1,500 and below 1% 2% Over 1,500 2% 2% As the Pag-IBIG contribution table shows, the employee share is pegged at 1% if his monthly compensation is 1,500 and below, and 2% if monthly compensation is more than 1,500. The employer share is set at 2% regardless of the employee's monthly compensation. Take note that the maximum monthly compensation used for computing employee contributions is P5,000, which means that the maximum employee and employer contributions are both P100