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13th Month Pay Calculation Format

The document outlines an employee's monthly compensation which includes a basic salary of ₱70,000, average overtime pay of ₱45,323.08, and various benefits like uniform allowance, medical cash allowance, and maternity leave. It calculates the taxable income to be ₱1,374,734.18 and computes the tax due of ₱246,184 based on a tax rate of 25% for income exceeding ₱800,000. The total tax withheld is ₱245,022, resulting in additional tax payable of ₱1,162.

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Jaren Pauline D. Hidalgo
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81 views2 pages

13th Month Pay Calculation Format

The document outlines an employee's monthly compensation which includes a basic salary of ₱70,000, average overtime pay of ₱45,323.08, and various benefits like uniform allowance, medical cash allowance, and maternity leave. It calculates the taxable income to be ₱1,374,734.18 and computes the tax due of ₱246,184 based on a tax rate of 25% for income exceeding ₱800,000. The total tax withheld is ₱245,022, resulting in additional tax payable of ₱1,162.

Uploaded by

Jaren Pauline D. Hidalgo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Working days: 26 days

Working hours: 7 hours


daily rate ₱ 2,692.31 BENEFITS LIMIT RECEIVED EXCESS
Basic Salary a month ₱ 70,000.00 Uniform Allowance ₱ 6,000.00 ₱ 12,000.00 ₱ 6,000.00
Uniform Allowance ₱ 12,000.00 Medical Cash Allowance ₱ 3,000.00 ₱ 24,000.00 ₱ 21,000.00
Maternity Leave Benefit for 60 days ₱ 70,000.00 Christmas Gift ₱ 5,000.00 ₱ 24,000.00 ₱ 19,000.00
Average Overtime Pay a month ₱ 45,323.08 Laundry Allowance ₱ 3,600.00 ₱ 6,000.00 ₱ 2,400.00
Average Night Shift Differentiate a month ₱ 1,057.69 Perfect Attendance Award ₱ 5,000.00 ₱ 5,000.00 ₱ -
Average Holiday Pay a month ₱ 10,000.00 Vacation Leave ₱ 26,923.08 ₱ 35,000.00 ₱ 8,076.92
Average Premium Pay a month ₱ 7,076.92 Excess De Minimis Benefits ₱ 56,476.92
Monthly Average Service Charge ₱ 5,000.00 Add: Other Benefits
Medical Cash Allowance ₱ 24,000.00 13th Month Pay ₱ 58,333.33
th
13 Month Pay *Compute Non-Performance Based Award ₱ 11,000.00
Christmas Gift ₱ 24,000.00 Total Excess DM and OB ₱ 125,810.26
Laundry Allowance a month ₱ 500.00 Less: Non-taxable Treshhold ₱ 90,000.00
Perfect Attendance Cash Award ₱ 5,000.00 Taxable DM and OB ₱ 35,810.26
Non-Performance Based Award ₱ 11,000.00
Monetized Vacation Leave 13 days
Regular Compensation:
Basic Salary ₱ 700,000.00
Supplementary Compensation: ₱ 453,230.80
Overtime Pay
Night Shift Differential ₱ 10,576.90
Holiday Pay ₱ 100,000.00
Premium Pay ₱ 70,769.20
Service Charge ₱ 50,000.00
GROSS COMPENSATION INCOME ₱ 1,384,576.90
₱ 138,457.69 Less: Allowable Benefits
SSS Premium ₱ 13,500.00
Philhealth Premium ₱ 31,152.98
HDMF Premium ₱ 1,000.00
Taxable RC and SC ₱ 1,338,923.92
Add: Taxable DM and OB ₱ 35,810.26
TOTAL TAXABLE COMPENSATION ₱ 1,374,734.18
TOTAL TAXABLE COMPENSATION ₱ 1,374,734.18
Lower Limit ₱ 800,000.00
Excess ₱ 574,734.18
Tax rate 25%
Tax on excess ₱ 143,683.54
Tax on base ₱ 102,500.00
Tax Due ₱ 246,183.54 ₱ 246,184.00

Total Withholding Tax ₱ 245,022.00 *assuming tax witheld of P24,502.00


Tax Due ₱ 246,184.00
Tax Payable -₱ 1,162.00

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