BIR Form 2316, also known as theCertificate of Compensation Payment/Tax Withheld, is a document issued by employers to their employees annually. This form is evidence of the employee’s income and the corresponding taxes withheld by the employer during the calendar year. It is a critical documen...
In the Philippines, both employees and employers are required to contribute to the nation’s Social Security System (SSS). The current deduction rate is 11% of an employee’s monthly salary and must not exceed P16,000. Employers are responsible for 7.37% of this amount, whilst employees contr...