Philippines PEO Services

The Philippines’ economy is backed by its strong trade connections with other countries in Asia. While agriculture remains a key industry in this country, IT, energy, transport infrastructure, and manufacturing are all other primary industries which make up this economy.

Employment Information

Businesses hiring in the Philippines must observe a variety of payroll regulations, including monthly withholding obligations and benefits for both foreign and local employees. In general, salaries are paid twice each month, usually on the 15^th and 30^th.

The Philippines has a mandated minimum wage, which is projected to reach 547 PHP per day by 2023. Employers are also required to provide an additional month’s worth of basic salary under the nation’s 13^th Month Pay policy. This shouldn’t be paid later than December 24th every year.

Both employers and employees are required to pay into the Philippines’ Social Security System (SSS). The SSS is a privatised social insurance system which protects employees and individuals against loss of income resulting from disability, sickness, maternity, old age etc.

The contribution rate equals 13% of a worker’s monthly salary, with 8.5% being contributed by the employer, and 4.5% from the employee.

Leaves / Public Holidays

Workers in the Philippines are entitled to a range of different leaves including paternal leave, solo parenting leave, special leave, and Service Incentive Leave (SIL). Each leave has different requirements which are established in the nation’s labour laws.

The Philippines also observes a variety of public holidays in which employees are not required to work. The nation’s regular public holidays include:

• New Year’s Day
• Araw ng Kagitingan
• Maundy Thursday
• Good Friday
• Labor Day
• Eid’l Fitr (Feast of Ramadan)
• Independence Day
• Eid’l Adha (Feast of Sacrifice)
• National Heroes Day
• Bonifacio Day
• Christmas Day
• Rizal Day

Other holidays in which workers are not required to work include:

• Chinese New Year
• EDSA People Power Revolution
• Black Saturday
• Ninoy Aquino Day
• All Saint’s Day
• Feast of the Immaculate Conception

Cultural Information

The Philippines has a unique culture which is inspired by both Eastern and Western traditions. Filipino people have an appreciation for the arts, music, and great food, and are generally considered to be very welcoming to foreigners.

The prevalent religion in The Philippines is Roman Catholicism, and other branches of Christianity are also present throughout the nation. The Philippines is the only country in Asia which has Christianity as its primary religion.

Tagalog and Cebuano are the two most spoken languages in The Philippines. The population also has a good proficiency of the English language, and it is taught in the country’s schools.

Impacts from COVID-19

The Philippines was significantly affected by the COVID-19 pandemic, with its economy declining to the lowest level since World War II. Some measures, such as remote and flexible working patterns, were introduced in certain industry sectors. As of 2022, the nation’s economy is expected to begin rebounding from the impacts of the pandemic.