Studying Your Payslip

March 16, 2015

When I first started working I never really paid much attention on my paycheck. I felt like it is not that important and what matters most is that I can have the physical money or payment for the job that I did. But when I started having financial literacy I learned that I need to study my paycheck. 
I need to know where my money goes.

Why Study Your Payslip?!

It is your payslip first and foremost. You have the right to know how much you earn and how much are deducted to you.

1. There maybe cases that your deduction for benefits such as Philhealth, SSS, GSIS and so on is unintentionally incorrect. If you are knowledgeable about your paycheck then you’ll be able to raise the inquiry to your HR Officer better.

2. You’ll know how much you earn in a year. I guess it is important to know how much your yearly earning is because you can easily compare this to how others from other company with the same position as you earns.

Whenever our HR Manager announce that the payslip is ready for release I feel excited. I love that moment when I see the big numbers (literally big because of the font). I actually started writing what I receive every 15th and 30th on My Bullet Journal so that I can have a quick view. Aside from knowing how much I earn for the certain working period I also try to pay attention on my deductions, how many working hours I have and so on and so forth. It maybe confusing at first but once you get used to studying your payslip you will be very careful in how you spend your time at work and how you balance your life.

A Common Philippine Payslip has the following:

    1. Regular Days of Work
    2. Absences
    3. Year to Date Payment
    4. Number of Overtime
    5. Number of Undertime
    6. Deductions
      • PhilHealth
      • SSS
      • PAG-IBIG
      • Loans
      • Withholding Tax
      • Company-based Deductions
    7. Loans and Others
    8. Vacation Leave or Sick Leave Used
    9.  Net Pay

Your Monthly Income

As an employee, your monthly income will be based on the number of hours you spent at work. If you don’t go to work you are not going to be paid not unless you file for a vacation leave or sick leave. Monthly income is usually deductible not unless gave you non-deductible increase which can in the form of Transportation Allowance, Rice Allowance and Clothing Allowance. Remember also that you don’t have control over how your monthly income will be. You solely depend on your boss or manager and you need to really prove your worth in the company.

Read: 8 Tips to Have a Major Major Salary Increase

Your Overtime and Undertime

Your payslip will be big if you do paid overtime most often however undertime will cause your paycheck to shrink. Personally, I don’t recommend doing overtime not unless the work requires you. Time for the family is much more important and imagine spending almost half of your day at work why will you rob the only time left for yourself and your family if it is not important or urgent at all. Also as an employee you need to live productively. You may read the whole 14 Day Productive Living Program that I did last month or focus on Day 7 Productive Living for Career Women.

Vacation Leave and Sick Leave

An employee has the benefit of earning Vacation Leave and Sick Leave depending on the period they spent at work and the policy of the company. I don’t take a leave that much but if I do have an out of town event  to host I file for a VL. In my work unused Sick Leaves are turned into cash after a year which is great though I know some not in the same situation as above. Just make sure that you make wise use of your Vacation Leave and Sick Leave.


  • Philhealth

Joining Philhealth is mandatory for every Juan employees. The program provides financial assistance in regards to medical situations and emergencies. I’ll elaborate more about Philhealth in an All About Philhealth blog post so I do hope that you can stay tune.  You need to be paid of at least three consecutive contributions before your confinement to avail the benefit.

  • Social Security System

Being a member of SSS is compulsory too for every employee.  There are four types of employee being deducted with SSS contribution. A Juan below 60 years old and is an active employee, a kasambahay who earns at least 1000.00, a self-employed individual and seafarers, foreign government employees, parent, spouse of child under 21 years with a valid and legal single proprietor business. The benefits of SSS includes retirement pension cash cash finance in case of death, disability or maternity.


PAG-IBIG is far more than just a housing financing benefit. Almost every Juan can be a member of PAG-IBIG. The PAG-BIG 1 open its contributions to 1% employee-1% employer for those earning 1500pesos and below. While those earning 1500pesos and above needs to contribute 2% employee-2% employer.

Studying your payslip maybe a daunting task at first but if you make it a habit then you will surely realize that it gives you a perfect information on how much your current net pay is and you can easily use this information as you do your budgeting. Try to pay closer attention for your payslip and understand how your money goes.


Be better in your finances. Save Now, Invest Now and walk your way to success. Sign up in my Email List and receive templates to get you started in your Financial Wealth. Follow me on Facebook and Twitter for better updates. Godbless  

Clariza Glino

Izza of SavingsPinay helps Filipinos bridge the financial literacy gap one content at a time by providing insights and tips on budgeting, saving, investing, side hustle and growing your net worth. Aside from this blog she also writes at www.izzaglinofull.com, a beauty and lifestyle blog for frugal Pinays and manages, www.izzagevents.com, a wedding and event business since 2011. For inquiries, topic suggestions or future collaborations email her at izza@savingspinay.ph


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