1. What is Total Compensation?

Total compensation represents the complete financial package an employee receives, including salary and mandatory contributions (SSS, PhilHealth, and Pag-IBIG) in the Philippines.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• \( \text{Salary} \) — Base annual salary in Philippine Pesos
• \( \text{SSS} \) — Social Security System contribution
• \( \text{PhilHealth} \) — Philippine Health Insurance Corporation contribution
• \( \text{Pag-IBIG} \) — Home Development Mutual Fund contribution

Explanation: The equation sums all components of an employee's compensation package to show the total value provided by the employer.

3. Importance of Calculating Total Compensation

Details: Understanding total compensation helps both employers and employees see the full value of the employment package beyond just base salary.

4. Using the Calculator

Tips: Enter all values in Philippine Pesos (PHP). Input your annual salary and the current contribution amounts for SSS, PhilHealth, and Pag-IBIG.

5. Frequently Asked Questions (FAQ)

Q1: What are the current contribution rates?
A: Contribution rates change periodically. Check the latest rates from SSS, PhilHealth, and Pag-IBIG websites.

Q2: Are bonuses included in total compensation?
A: This calculator focuses on base salary and mandatory contributions. Bonuses would be additional.

Q3: How often should I calculate my total compensation?
A: Recalculate whenever your salary changes or when contribution rates are updated.

Q4: Is this calculator only for employees?
A: Employers can also use it to understand their total compensation costs for employees.

Q5: What about other benefits like 13th month pay?
A: This calculator focuses on mandatory contributions. Other benefits would be in addition to this total.