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Philippines Mandatory Employee Benefits & Contributions
Employee’s SSS contributions are deducted from their salaries and withheld by their respective employers on a monthly basis. Employers have a share in … See more
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Steps on Reporting New Employees to SSS, PhilHealth, Pag-IBIG, …
WEBStep 4: Registration with HDMF or Pag-IBIG. Under RA No. 7835, employers are required to contribute to Pag-IBIG on behalf of their employees. Pag-IBIG is a government agency that provides housing and land acquisition loans to its members with the lowest interest rate in the market. These loans are payable for up to thirty (30) years.
A Comparative Overview of SSS, HDMF, and PHIC in the Philippines
WEBThe agencies, namely, the Social Security System (SSS), the Home Development Mutual Fund (HDMF, otherwise known as Pag-IBIG), and the Philippine Health Insurance Corporation (PHIC, otherwise known as PhilHealth) provide benefits such as loans, retirement funds, and healthcare to all employees in the Philippines.
PhilHealth Registration in the Philippines
WEBLocal and foreign enterprises in the Philippines must register with PhilHealth to comply with laws that mandate basic health coverage and insurance to employees. We help our clients achieve a seamless corporate registration process by providing end-to-end assistance in complying with appropriate government agencies in the Philippines.
A Complete Guide to Work Permit Application in the Philippines
WEBSpecial Work Permit (SWP). The SWP allows the holder to engage in short-term employment for a duration of up to six months without the need to change their tourist status. A locally-registered company must be willing to serve as the petitioner for the holder. The approval time of the SWP usually takes 2-3 weeks. Provisional Work Permit (PWP).
Labor, Employment, and HR Consulting in the Philippines
WEBEmployment law in the Philippines is governed by the Labor Code of the Philippines and covers the following key aspects: labor standards (prescribes the conditions of employment that both employers and employees have to abide by, such as types of employment, working hours, minimum wage, mandatory benefits, holidays, rest days, and employment
DOLE Registration in the Philippines
WEBRegistration (1024). These are the following steps to follow on registering your business in DOLE: Accomplish three copies of DOLE-BWC-IP-3 form. Include the following prerequisites together with the form. Layout plan of the place of work floor by floor. On a scale of 1:100 meters white or blueprint showing all the physical features of the
HMDF Registration in the Philippines PAG-IBIG
WEBThe Home Development Mutual Fund (HMDF), also known as Pag-IBIGFund, is the government agency responsible for providing housing programs and benefits for employees in the private and public sectors. As mandated by Philippine laws, employers must register their employees with Pag-ibig to provide them with housing, multi-purpose, and calamity …
Foreign Investment Negative List in the Philippines
WEBThe Foreign Investment Negative List, or Negative List, is a list of economic sectors where foreign ownership and participation in the Philippines are regulated. It contains two component lists: List A and List B. List A contains areas of investment where foreign ownership is limited by the mandate of the Philippine Constitution or by specific
Registration with Government Agencies in the Philippines
WEBThe Department of Labor and Employment (DOLE) is the government agency that protects the rights and welfare of employees working in the Philippines. Enterprises with five or more employees are required to register with DOLE. Moreover, DOLE also handles the issuance of an Alien Employment Work Permit (AEP) for non-citizens that would like to
Philippines Working Hours, Overtime, and Other Mandatory Labor …
WEBThe normal hours of work an employee has to render must not exceed eight (8) hours a day and should be exclusive of the one (1) hour daily lunch break. Philippine laws, however, do not prohibit work done for less than eight hours. Working hours shall include: rest periods of short duration during working hours.
Tax, SSS, and PHIC Updates for 2023 InCorp Philippines
WEBBelow is the new tax table, effective starting January 1, 2023, and onwards: Under the adjusted tax rates, individuals with an annual taxable income of ₱250,000 – Below will still be free from paying personal tax. On the other hand, those earning more than ₱250,000 to ₱8,000,000 will have 15% – 30% tax rates, while those earning above
How to Secure Retirement Visa in the Philippines Fees and …
WEBWith pension: US$10,000 (minimum monthly pension US$800 for single applicants; US$1000/month for married couples). Certificate of Retirement Benefits required. Entire deposit must be applied to the purchase of condominium units or a residential long-term lease. Value of the property a minimum of US$50,000.
Terminating, Termination of Employment in Philippines
WEBUnlike the United States of America, which has an “at-will employment” doctrine, employers in the Philippines can only terminate their relationship with an employee if a “just” or “authorized” cause, as defined under the law, has been established, after undergoing due process. Thus, terminating an employee in the country is taken
Securing a Retirement Visa in the Philippines Requirements and …
WEBUS$1,500**. For Foreigners: Spouse and one child***. For Former Filipinos: Spouse and one child (additional deposit waived for each dependent in excess of two) SRRV Expanded Courtesy Visa. Accomplished foreign retirees, such as diplomatic and military personnel, professors and scientists, philanthropists, etc. 50 and above.
Philippines Business Registration Requirements List
WEBObtain the community tax certificate (CTC) from the City Treasurer’s Office (CTO) Obtain Barangay (neigborhood) clearance. Obtain the business permit to operate at the local Business Promotion and Development Office (BPDO) Receive inspection from the BPDO. Buy special books of account at a local bookstore. Register with the Bureau of Internal
A Guide to Foreign Business Ownership in the Philippines
WEBAllows 100% foreign ownership of business activities not covered in FINL. Redefines “export enterprise” to refer to any company that exports at least 60% of its production. As mentioned, FIA opens the domestic market to 100% foreign investment. However, foreign enterprises are subject to restrictions and limitations provided under …
Things to Know About the Philippine Pharmaceutical Industry
WEBAccording to the Philippine Statistics Authority (PSA), the country’s Current Health Expenditure (CHE) has grown by 10.9% in 2019, reaching a total amount of approximately ₱792 billion (US$16.5 billion). In the Philippines, pharmaceutical drugs are regulated into three segments: originator, branded generics, and unbranded generics.
Product Registration Services in the Philippines FDA Registration
WEBThe Food and Drug Administration (or FDA, formerly BFAD) is a government agency under the Department of Health responsible for licensing and regulating products for distribution in the Philippines. FDA’s registration requirements and processing timeline will depend on the classification of the products you want to market, which could be any
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