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Philippines

All countries

Country Details

Currency

Philippine Peso (PHP)

Official language

Filipino, English

Capital

Manila

Is English spoken?

Yes

Time Zone

GMT +8:00

Salary payment frequency

Monthly

General Overview & Economic Facts

Information

The Philippines has a developing economy with strong sectors in business process outsourcing (BPO), manufacturing, agriculture, and services. It is a key player in the global outsourcing industry.

Population size

113,000,000

GDP

$453B

Inflation level

7.60%

Average earning + minimum wage

Average monthly salary: PHP 23,000 (~USD 420); Minimum wage: PHP 537 per day (depending on region)

Overview of the labour law

Labor laws in the Philippines are governed by the Labor Code, which outlines regulations for employment contracts, wages, working hours, and employee rights. It includes protections for workers regarding termination, benefits, and workplace safety.

Employment Details

Number of Public Holidays

12 public holidays annually

Working Hours

Standard working hours are 8 hours per day and 48 hours per week.

Benefits
  • Health Insurance
  • Vision Insurance
  • Dental Insurance
  • Pension or 401(K)
  • Mental Health Support
  • Life and Disability Insurance
Overtime

Overtime is compensated at 1.25 times the regular hourly rate for work on regular days, and 1.3 times for work on holidays. Overtime is limited to 12 hours per week.

Notice Period

Notice periods are generally 30 days, but can vary depending on the terms of the employment contract.

Probation Period

Probation period is typically 6 months, though this can vary by employer.

Severance Pay

Severance pay is typically 1 month’s salary for each year of service. For employees with less than 1 year of service, the employer is required to provide separation pay equivalent to 1/2 month’s salary.

Employee Income tax

Income tax rates are progressive, ranging from 5% to 35% based on income brackets.

Employer Social cost

Employers contribute 8.5% of the employee's salary to social security (SSS), health insurance (PhilHealth), and housing fund (Pag-IBIG).

Employee Social cost

Employees contribute 9% of their salary to social security (SSS), health insurance (PhilHealth), and housing fund (Pag-IBIG).

Benefit packages

Health Insurance
Vision Insurance
Dental Insurance
Pension or 401(K)
Mental Health Support
Life and Disability Insurance

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