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August 2021 Payroll and Contributions Report

The document provides a payroll register for August 2021, detailing employee gross pay, deductions, and net pay, totaling P93,559.95 in net salaries. It includes schedules for SSS, PhilHealth, and Pag-ibig contributions, with total contributions amounting to P11,875, P3,622.50, and P1,000 respectively. Additionally, it outlines the recording of payroll expenses and remittances to respective agencies.

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35 views3 pages

August 2021 Payroll and Contributions Report

The document provides a payroll register for August 2021, detailing employee gross pay, deductions, and net pay, totaling P93,559.95 in net salaries. It includes schedules for SSS, PhilHealth, and Pag-ibig contributions, with total contributions amounting to P11,875, P3,622.50, and P1,000 respectively. Additionally, it outlines the recording of payroll expenses and remittances to respective agencies.

Uploaded by

a.carias.135607.tc
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

1. Payroll register for the month of August 2021.

Employee Gross SSS PhilHealth Pag-ibig Withholding Withholding Net Pay


Number Pay Tax Base Tax
001 P35,000 P1,125 P612.50 P100 P33,162.50 P2,465.90 P30,696.60
002 28,000 1,125 490 100 26,285 1,090.40 25,194.60
003 20,000 900 350 100 18,650 0.00 18,650
004 14,500 652.50 253.75 100 13,493.75 0.00 13,493.75
005 6,000 270 105 100 5,525 0.00 5,525
TOTAL P103,500 P4,072.50 P1,811.25 P500.00 P97,116.25 P3,556.30 P93,559.95

2. Schedule of SSS and EC contribution for the month of August 2021.

Employee SSS CONTRIBUTION Employer Share Total


Number Employee Share Employer Share (EC)

001 P1,125 P2,125 P30 P3,280


002 1,125 2,125 30 3,280
003 900 1,700 30 2,630
004 652.50 1,232.50 10 1,895
005 270 510 10 790
TOTAL P4,072.50 P7,692.50 P110 P11,875

3. Schedule of Philhealth for the month of August 2021.

Employee Employee Share Employer Share Total


Number

001 P612.50 P612.50 P1225


002 490 490 980
003 350 350 700
004 253.75 253.75 507.50
005 105 105 210
TOTAL P1,811.25 P1,811.25 P3,622.50

4. Schedule of Pag-ibig for the month of August 2020.

Employee Employee Share Employer Share Total


Number

001 P100 P100 P200


002 100 100 200
003 100 100 200
004 100 100 200
005 100 100 200
TOTAL P500 P500 P1000

Payroll entries-

5.1 Record salaries expense

Salaries Expense P103,500


SSS Premium Payable P4,072.50
Philhealth Premium Payable 1,811.25
Pag-ibig Premium Payable 500.00
Withholding Taxes Payable 3,556.30
Salaries Payable 93,559.95
To record salaries expense for the month of August 2021.

5.2 Record employer’s payroll expenses.

SSS Contribution P7,802.50


Philhealth Contribution 1,811.25
Pag-ibig Contribution 500.00
SSS Premium Payable P7,802.50
Philhealth Premium Payable 1,811.25
Pag-ibig Premium Payable 500.00
To record employer’s payroll expenses related to contributions for the month
August 2021.

5.3 To record disbursement of payroll.

Salaries Payable P93,559.95


Cash in Bank P93,559.95
To record the disbursement of payroll.

5.4 To record remittances to respective agencies

SSS Premium Payable P11,875


Cash in Bank P11,875
To record remittance of SSS premium.

Philhealth Premium Payable P3,622.50


Cash in Bank P3,622.50
To record remittance of Philhealth premium.

Pag-ibig Premium Payable P1,000.00


Cash in Bank P1,000.00
To record remittance of Pag-ibig premium.

Withholding Taxes Payable P3,556.30


Cash in Bank P3,556.30
To record remittance of withholding taxes to BIR.

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