Payroll > Settings > Contribution Types
The Philippine employers started the 2023 and 2024 with an increase in the rates for the following contributions:
- SSS increased from 13% to 14% in 2023, 9.5% of SSS contributions are made by the employer, while employees contribute 4.5% of their monthly salary credit.
- Pag-IBIG MFS (Maximum Fund Salary) increased from 5,000 to 10,000 effective February 2024.
- PhilHealth contribution rate increased from 4% to 5% and MSC (Monthly Salary Credit) increased from 80,000 to 100,000.
Here's the regulatory announcements for your easy reference:
IMPORTANT - Before we get started, here's the Contribution Types article for reference. - Ensure that when you update the contribution rate in KAMI, all previous payroll batches have been closed/paid.
How to update SSS rate?
Step 1 : Access your Contribution Types settings - go to Payroll >Settings
Step 2 : Find SSS ER type - change only the following
- Wage Floor - 4,000
- Wage Cap - 30,000
- Rate - 9.5
Step 3 : Find SSS EE type - change only the following
- Wage Floor - 4,000
- Wage Cap - 30,000
- Rate - 4.5
The rest, leave as is. The same settings above applies if you deduct this contribution in full or one time only.
How to update Pag-IBIG rate?
Step 1 : Access your Contribution Types settings - go to Payroll >Settings
Step 2 : Find Pag-IBIG (EE) & (ER) types - change only the following
- Wage Cap - edit the amount from 5,000 to 10,000
- Rate and the rest - leave as is
The same settings above applies if you deduct this contribution in full or one time only.
The above settings should be changed for both Pag-IBIG EE and ER types.
How to update PhilHealth rate?
Step 1 : Access your Contribution Types settings - go to Payroll >Settings
Step 2 : Find PhilHealth (EE) & (ER) types - change only the following
- Wage Cap - edit the amount from 80,000 to 100,000
- Rate - edit the rate from 2% to 2.5%
- Others - leave as is
The same settings above applies if you deduct this contribution in full or one time only.
The above settings should be changed for both Pag-IBIG EE and ER types.
That's it! Easily update your contribution types rate in just simple steps. Should you need assistance, contact our KAMI Support Team at support@kamiworkforce.com or any of our Support Channels here.
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