myHR Release Notes as of 20220531
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Modified on: Fri, 10 Jun, 2022 at 1:16 PM
Change in PHIC Contribution percentage from 3% to 4% for Year 2022 effective Jun 2022
PHIC Contribution Rate Increase to 4%
Last May 23rd, we published an advisory that the 4% PHIC Contribution Rate will be applied to the system effective this June.
We are happy to announce that the new rate of the PHIC Contribution is to be reflected starting June 1st (Wednesday).
To guide you in this transition, please refer to the below tables for the changes on PHIC Remittance Contribution Premium.
CURRENT Table:
NEW Table starting June 1, 2022:
Please refer to this article from PHIC.
Be advised that this release does not include the adjustment, correction, and/or computation of the 1% differential from the contributions starting January to May of this year. |
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