Salary Computation
Read moreHow is payslip calculated?
Salary calculation formula
Read moreHow much is tax for 40k salary in Philippines?
If you make ₱ 380,000 a year living in Philippines, you will be taxed ₱ 39,820. That means that your net pay will be ₱ 340,180 per year, or ₱ 28,348 per month. Your average tax rate is 10.5% and your marginal tax rate is 21.2%.
Read moreWhat is net pay and how is it calculated?
Net pay is the amount of pay remaining for issuance to an employee after deductions have been taken from the individual’s gross pay. This is the amount paid to each employee on payday. Thus, the net pay calculation is: Gross pay – Payroll taxes – Other deductions = Net pay .
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