EE10.1r1

January 2024

Our valued clients:

Please be advised that Metrosoft, Inc. (MSI) will release its latest upgrade, Version 10.1r1, for the MSI Payroll System Enterprise Edition on January 26, 2024. This version incorporates the following enhancements:

I. A new PHIC Table for January 2024 released by the Philippine Health Insurance Corporation is now incorporated in this version.

This enhancement has been made in compliance to:

2024 Premium Contribution Schedule for All Direct Contributors 

Effective January 1, 2024, Philhealth Circular No. 2019-0009 PhilHealth shall implement the new premium schedule for all Direct Contributors as stipulated in Section 10 of the Republic Act No. 11223 of the Universal Health care (UHC) Act of 2019. Direct Contributors are hereby advised that the premium rate for CY 2024 is 5.0%, with an income floor of P10,000.00 and income ceiling of P100,000.00 effective January 2024. Please see details below: 

The adjusted premium rate shall take effect in the Electronic Premium Remittance System (EPRS) and the PhilHealth Member Portal starting the applicable month of January 2024. As per PHIC, the premium contribution rate increase may be suspended with the directive from Malacañang. If payment will be made now, the 5% computation will apply in accordance to the law. If suspension is eventually declared later, any excess amount paid by the member will cause adjustments to future contribution payments.

II. A new Pag-IBIG Table effective February 2024 released by Pag-IBIG Fund is now incorporated in this version.

Circular No. 460. Pursuant to the approval of the Board of Trustees on its 2023- 01 Regular Board Meeting held February 2023 regarding the Implementation of Increase in the Membership Savings in as Single Tranche or an Increase in the Maximum Fund Salary (MFS) in the year 2024, and the approval of the Senior Management Committee (SMC) held on 13 June 2023 on the Guidelines on the Pag-IBIG Fund's Implementation of Increase in the Monthly Membership Savings for 2024, the Guidelines on the Pag-IBIG Fund's Implementation of Increase in the Maximum Fund Salary (MFS) Effective February 2024 is hereby issued. 

The maximum fund salary to be used in computing the employee and employer savings has been increased from Five Thousand Pesos (P5,000.00) to Ten Thousand Pesos (P10,000) taking into consideration financial calculations and rates of benefits in accordance with Section 7 of Republic Act No. 9679. Employers shall remit two percent (2%) of the monthly Fund Salary of the contributing member as counterpart contribution. The employer is not entitled to deduct from the wages or remuneration of or, otherwise, to recover from the employee the employer's contribution.