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For employed persons, the private employer could contribute to its staff’s PERA but still subject matter to the maximum total permitted to the contributor. This shall be Besides, and never in lieu of, the employer’s share during the social security contributions and obligations for retirement Positive aspects. But the employer shall not be entitled towards the five p.c tax credit score. Instead, the five % tax credit history pertaining towards the contribution of your employer shall inure to the good thing about the employer.
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Contribution into the PERA is just not without the need of limitation. A contributor could make an aggregate greatest contribution to his PERA of only up to P100,000 per year, subject to feasible adjustment from the Secretary of Finance soon after contemplating some factors.
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