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If you are interested in hiring a remote team in Philippines, or even just individual remote employees in Philippines, then you have come to the right place!
Rivermate is an Employer of Record (EOR) that offers Philippines payroll solutions. As a Philippines payroll provider, we will cover everything from salary, benefits, employer-to-employee contributions, and especially payroll compliance in Philippines. We are confident Rivermate’s payroll solutions Philippines will help you grow as a business—because now, you won’t have to worry about your payroll solutions Philippines. We take care of everything payroll!
With Rivermate, you can run Philippines payroll services in just one click—regardless of currency, benefits, insurance, and your local labor laws. Everything is automated. Our priority is for you to focus on your company’s strategy and growth.
Our Rivermate Global Payroll services are made especially for startups and scaleups. We know that startups try to be extra prudent when it comes to choosing a payroll provider, so it is our mission at Rivermate to be your most reliable and cheapest payroll provider option. So if you’re looking for global payroll providers for small businesses, look no further and book a call with us now!
Once you've determined the best Philippines payroll option for your company, you'll need to collect some information from employees in order to add them to your payroll. Begin by acquiring their personal identification number, tax deduction card, and emergency contact information. When an employee begins working and provides you with their tax deduction card, they become a part of the social security system and are eligible for benefits.
Employers must be concerned with both their own and their employees' contributions. The Philippines has a mandatory social security system for all employees. It consists of the Social Security System (SSS), the Home Development Mutual Fund (HDMF), and the Philippine Health Insurance Corporation (PHIC) (PhilHealth).
Employers and employees are both required to contribute to all three of these funds. In 2016, the total contribution rate was 11.36% of a monthly salary of less than P16,000. This rate is divided between employers and employees, so employers pay 7.67% and employees contribute 3.69%.
Companies that wish to expand their operations globally have four different payroll options in Philippines. These payroll options are:
1. Internal Payroll. This payroll option is applicable for already established companies in Philippines. It includes devoting an entire Human Resources staff to running the company's payroll procedures.
2. Remote Payroll. Smaller firms may lack the capacity to handle their own payroll, but they may add their workers to the parent company's payroll. This action, on the other hand, requires considerable thinking. You must guarantee that you follow the rules and laws of each nation.
Working with a local outsourcing firm is one method to retain money in the local economy, but you'll still need to study all of the local rules and regulations, since you'll be held responsible.
3. Philippines payroll outsourcing: Outsourcing your payroll to an Employer of Record in Philippines, such as Rivermate, is another alternative for Andorra payroll outsourcing. We can manage all aspects of your payroll, including compliance. Send us a note and we'll get back to you as soon as possible!
It is the obligation of the employer to ensure that all payroll-related transactions are properly documented and recorded. All salaries and compensation payments must adhere to the local minimum wage as well as other applicable laws and regulations.
Rivermate's payroll services in Philippines can assist you in staying in compliance with the country's ever-changing payroll rules. We provide an all-inclusive solution that covers everything from compliance and reporting to salary payments.)
Companies that have a business presence in Philippines have different ways of managing payroll. However, most of the options you have for running payroll in Philippines are either expensive or require establishing a subsidiary in Philippines. The cheapest, most efficient, and most reliable payroll processing system in Philippines is by outsourcing payroll to Employers of Record (EOR) in Philippines. Rivermate is one of those Employers of Record.
At Rivermate, we offer you the most efficient, most compliant, and cheapest HR and Payroll Management services in Philippines. We do this by taking care of your payroll-related needs, such as keeping track of your employees’ financial records, including incentives, gross and net salary, and payslips, all the while staying compliant with the labor laws in Philippines. Because we do your online payroll management for you, you can have absolute focus on your business’ strategy and growth.
Rivermate is all about growth through collaboration and we achieve this by offering the most reliable yet cheapest services for managing payroll for small businesses in Philippines.
An employee may be terminated for legitimate and allowed reasons in accordance with the Labor Code, as well as for any major violation of corporate rules and regulations, or for the commission of additional infractions or violations of the Code of Conduct.
The minimum wage for workers in the agricultural sector is 500.00 PHP per day, while in the non-agriculture sector it is 537.00 PHP per day.
The standard workweek is forty hours spread over five days. Young workers under the age of 15 have a maximum workweek of 20 hours, while those between the ages of 15 and 18 have a maximum workweek of 40 hours. They are unable to work in the evening.
The Philippines has mandatory universal healthcare that is financed by payroll taxes and the general budget. There is also the option of paying for private health care. The private healthcare system serves 30% of the population.
Offering extra incentives may aid in attracting and retaining important personnel. The following are some common extra perks provided by certain companies in the Philippines
Allowances: Some companies offer allowance for things such as housing, transportation, and medical allowances. If an allowance can be classified as a cost of living allowance it is tax deductible. All other allowances will be taxed.
Supplementary Insurances: supplementary life, disability, and health insurance are often provided by employers and are recommended.