There are 2 options on how HDMF contribution will be computed. This can be configured on Company > Setup > Profile under Government Contributions tab.
HDMF Contribution Option 1: Fixed Deduction of P100 per month
- A fixed amount of P100 per month will be deducted to employees with salaries ranging from minimum wage and above.The total monthly contribution that is debited in your HDMF Contribution is P200 monthly (total of both employee’s and employer’s share).
HDMF Contribution Option 2: Follow Pag-IBIG Contribution table
- This computation is just simple. Once you know where your Gross Monthly Salary Range belong, you simply need to multiply it by the MULTIPLIER that corresponds to your monthly basic pay (salary).
- For instance, if your Monthly Basic Pay (Salary) is P12,000, then your HDMF Contribution is computed as P12,000 X 2% = P240 and your employer's counterpart is P12,000 X 2% = P240.The total monthly contribution that debit in your HDMF Contribution is P480 monthly.
Now you’ve learned how to compute for HDMF contribution. If you have questions or suggestions, do not hesitate to get in touch with us at email@example.com.
Join our Sprout Support Community Now! Visit this article for reference - Community