Annual Income=Monthly Salary×12 

Apply Tax Brackets:

• For Annual Income ≤ PHP 250,000: Income Tax=0\text{Income Tax} = 0Income Tax=0

• For Annual Income between PHP 250,001 and PHP 2,000,000: Income Tax=0.20×(Annual Income−250,000)\text{Income Tax} = 0.20 \times (\text{Annual Income} - 250,000)Income Tax=0.20×(Annual Income−250,000)

• For Annual Income between PHP 2,000,001 and PHP 8,000,000: Income Tax=350,000+0.25×(Annual Income−2,000,000)\text{Income Tax} = 350,000 + 0.25 \times (\text{Annual Income} - 2,000,000)Income Tax=350,000+0.25×(Annual Income−2,000,000)

• For Annual Income > PHP 8,000,000: Income Tax=1,950,000+0.35×(Annual Income−8,000,000)\text{Income Tax} = 1,950,000 + 0.35 \times (\text{Annual Income} - 8,000,000)Income Tax=1,950,000+0.35×(Annual Income−8,000,000)

Monthly Income Tax=Annual Income Tax​ /12

2. Social Security System (SSS) Contributions

Formula:

1. Determine Monthly Salary Credit (MSC): Use the SSS contribution table to find the MSC corresponding to the monthly salary.

2. Calculate Contribution: Employee Contribution=MSC×Employee Contribution Rate\text{Employee Contribution} = \text{MSC} \times \text{Employee Contribution Rate}Employee Contribution=MSC×Employee Contribution Rate
   (Refer to the latest SSS contribution table for precise rates.)

3. PhilHealth Contributions

Formula:

1. Calculate Contribution: Employee Contribution=Monthly Salary×0.02\text{Employee Contribution} = \text{Monthly Salary} \times 0.02Employee Contribution=Monthly Salary×0.02

4. Pag-IBIG Fund Contributions

Formula:

1. Calculate Contribution: Employee Contribution=Monthly Salary×0.01\text{Employee Contribution} = \text{Monthly Salary} \times 0.01Employee Contribution=Monthly Salary×0.01