Registered companies in the Philippines are required to register and submit their employees to 3 government agencies, namely, the Social Security System (SSS), Home Development Mutual Funds (HDMF), and the Philippines Health Insurance Corporation (PHIC). These government agencies handle the status of private company’s employees’ contributions and their benefits. These benefits are administered by the respective government agencies through their monthly salary basis to avoid penalties due to delay of monthly contributions.
Social Security System (SSS)
All private companies must apply to SSS to ensure the protection of the employees and their families as well.
Companies in the Philippines must register first in order to register their employees to SSS
What are the documentary requirements?
Home Development Mutual Fund (HDMF)
The Government Agencies are responsible for collecting contributions used for funding salary loans, housing loans, and other benefits to ensure the protection of employees and their families as well.
Note: The Home Development Mutual Fund (HDMF) must be registered second to the Social Security System (SSS) after registration.
Philippine Health Insurance Corporation (PHIC)
Philippine Health Insurance Corporation also known as PhilHealth with the assistance of the Department of Health (DOH) is a government corporation that provides health insurance assistance and affordable health care to the beneficiaries that may occur during their employment.
The Company is required to register with the PHIC, register their employee, and remit the monthly contribution based on their monthly salary.
Remember:
List of Valid Identification Card (ID)
Revenue Regulations No. 8-2024
Revenue Regulations No. 7-2024
Revenue Regulations No. 6-2024
Revenue Regulations No. 5- 2024
Revenue Regulations No. 4-2024
Revenue Regulations No. 3-2024
Revenue Regulations No. 2-2024
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