Sample Payroll Computation using a Daily Rate
(Sample paysheet uses weekly mode but it can be used as a template for monthly or semi-monthly pay)
Environment: Philippines.201401
WorkingPeriods: Weekly, Semi-monthly, Monthly
Note: Philippines.201401 makes use of SSS (2014), PHIC (2014), HDMF (2007), and WTax (2009)
Accumulates weekly, semi-monthly or monthly pay based on a daily rate.
1. Computes (weekly, semi-monthly or monthly) basic and allowance pay from a daily rate based on number of days worked and hours late
2. Adds overtime and holidays
3. Computes SSS, PHIC and HDMF based on the grosspay for the month as of the pay period
4. Computes WTax using the same tax table as the pay period by default
but WTax is automatically annualized based on the AnnualizationMonth parameter.
If the AnnualizationMonth parameter is 1 then WTax is annualized from January and onwards.
5. Deducts periodic loan payments
6. Adds non-taxable income |