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(in the US) All earned income and bonuses are taxable.
(in the Philippines) If together with other financial benefits the total do not exceed P30,000.00, then it isn't taxable. If it exceeds the said limit, the amount in excess shall be taxable.
What else can I help you with?
Is tardiness a deduction that should be taken against the 13th month pay?
In my opinion tardiness should not be deducted against the 13th month pay, but to the salary of the employees. 13th month pay should be given to employees wholly without any deductions of taxes, sss, phic, hdmf (if it exceed 30,000.00 the excess are subject to withholding tax).
Is remuneration taxable pay?
calculate taxable pay
Is severance pay taxable in Philippines?
Is severance pay taxable in the philippines
Should absences be deducted from the 13th month pay?
No....since you were already been deducted from your salary every-time you have incurred absences or late. 13th month is mandated by law it is the basic or the usual monthly income that you received, it is a kind of pay that is regarded as an appreciation by the company to you for the services you've done after all this years.
What is difference between tax free and taxable income?
You don't pay tax on the tax-free pay and you do pay tax on taxable income
Is 13th month pay due for an awol employee?
yes
Are consultants entitled to a 13th month pay?
This is under the discretion of the company.
Is it allowed to deduct the number of absences in 13Th month pay?
No. It should not.
Are consultants entitle to 13th month pay?
This is under the discretion of the company.
Is tardiness a deduction that should be taken against the 13th month pay?
In my opinion tardiness should not be deducted against the 13th month pay, but to the salary of the employees. 13th month pay should be given to employees wholly without any deductions of taxes, sss, phic, hdmf (if it exceed 30,000.00 the excess are subject to withholding tax).
What are 13th month and other benefits in form 2316?
The 13th month pay is a mandatory benefit in the Philippines, equivalent to one month's basic salary, typically given to employees before December 24. Form 2316, or the Certificate of Compensation Payment/Tax Withheld, is issued by employers to summarize an employee's total earnings and tax withheld for the year, including the 13th month pay. Other benefits that may be reported in Form 2316 include bonuses, allowances, and any other forms of compensation that contribute to the employee's taxable income. These benefits are important for tax filing purposes and ensuring compliance with labor regulations.
Is remuneration taxable pay?
calculate taxable pay
How do you request letter for 13th month pay?
To request a letter for your 13th month pay, start by addressing it to your employer or HR department. Clearly state your request, including your employment details and the specific period for which you are requesting the 13th month pay. Be polite and professional in your tone, and consider including any relevant company policies or labor laws to support your request. Finally, express gratitude for their attention to your request.
Is severance pay taxable in Philippines?
Is severance pay taxable in the philippines
What is the name of the 13th month?
The 13th month is called Undecimber.
Is notice pay recovery amount taxable?
Yes it is possible that have some taxable income for a pay recovery, and if you have received such a notice saying that it is a taxable recovery amont, yes, it would be taxable income.
Should absences be deducted from the 13th month pay?
No....since you were already been deducted from your salary every-time you have incurred absences or late. 13th month is mandated by law it is the basic or the usual monthly income that you received, it is a kind of pay that is regarded as an appreciation by the company to you for the services you've done after all this years.
