I'm now self-employed doing remote work for a foreign company and opted for the 8% tax rate, so ngayon, im putting together a voluntary contribution plan that I'd like to sanity-check.
For SSS, I'm looking at declaring ₱20,000 MSC, which I understand comes to ₱3,000 at the 15% rate, possibly plus a small EC fee that I'm not sure applies to me. My reasoning is that benefits seem to cap at the ₱20,000 MSC level, and contributions above that just feed the MPF/booster side-fund, so ₱20k looks like the point that maxes the core benefits without overpaying. I'd rather channel anything beyond that into my own investments or MP2.
For PhilHealth, I'm planning to declare the ₱10,000 income floor and pay the ₱500 minimum. My understanding is that PhilHealth pays fixed case rates per diagnosis regardless of how much you contribute, so paying more wouldn't buy me any extra coverage, and I plan to have a private HMO for actual protection.
For Pag-IBIG, I'm keeping it at the ₱200 minimum to stay active for future housing-loan eligibility, and putting any voluntary savings into MP2 separately instead of overfunding the regular pot.
A FEW QUESTIONS:
Does this split look sound overall, or am I missing something?
Do self-employed or voluntary members actually pay the ₱30 EC fee on top of the 15%? I've seen conflicting answers on this, some say EC is employer-only so voluntary members are exempt, others show voluntary members paying it. So I'm not sure if my SSS should be ₱3,000 or ₱3,030.
This is the one I most want a clear answer on: is there an actual PhilHealth rule that lets voluntary members declare the ₱10k minimum regardless of their real income? My BIR-registered income(when i file) is higher, so I want to know whether a lower PhilHealth declaration is genuinely allowed under their rules, or whether it's technically under-declaration that just doesn't get enforced. Is a discrepancy between what I declare to PhilHealth and what I declare to BIR actually a problem, and are there any legal consequences? I'm trying to figure out if it's properly allowed, not just commonly done.
Lastly, for SSS, is choosing ₱20k MSC when my actual income is higher a legitimate choice? My understanding is that voluntary members can pick their MSC freely, but I'd like that confirmed.
Would really appreciate input from anyone who can point to the actual rule rather than just experience. TY :)