Académique Documents
Professionnel Documents
Culture Documents
WORKPLACE
Technocart Corporation establishes its safety and security policies of
all assets, tangible and intangible, and its people, from managerial and
supervisorial level down to rank and file employee level, against to possible
loss, deterioration, unnatural obsolescence, and workplace violence that in
any other way may disturb the daily operations of the corporation thus,
diminishing financial and operational losses.
The President of Technocart Corporation is in charge of strictly and
keenly observation of the security and safety policies implemented in the
office. The Vice President for Productions and Operations on the other hand
will then be held responsible for the offsite warehouses security and safety
policies. The President and Vice President for Productions and Operations are
then being held liable for any failure or defilement to comply of the policies
being agreed. The key to a safe workplace is having an effective safety and
security policies in place and to communicate these policies to all employees.
The security and safety policies are laid down below.
Air Conditioning
Guarantees that all technological or IT equipments are properly ventilated.
Physical Security
Guarantees the employees and assets susceptible to theft
kept away from perpetrator.
1. Employees are required to wear their identifications in the vicinity
of the workplace.
2. Visitors or guests should sign in on the log book and wear a visitors
pass issued by the corporation at all times within the vicinity.
3. Visitors or guests are to be properly accompanied by an employee
anywhere the workplace at all times.
4. CCTV cameras are to be installed in the workplace and ensure that
the whole workplace is properly covered.
5. Establish code words to alert coworkers and supervisors that
immediate help is needed.
6. Require delivery people to wait in a single area and to make
deliveries at that one location only.
7. Locks installed are regularly replaced.
Housekeeping
Guarantees the workplace into a neat and good environment to work on.
PRODUCT
E-Cart: ASSET
Guarantees that any intellectual property, rights, patents and any intangible asset owned, produced, and used
177.3. The first public distribution of the original and each copy of the
work by sale or other forms of transfer of ownership;
177.4. Rental of the original or a copy of an audiovisual or
cinematographic work, a work embodied in a sound recording, a
computer program, a compilation of data and other materials or
a musical work in graphic form, irrespective of the ownership of
the original or the copy which is the subject of the rental; (n)
177.5. Public display of the original or a copy of the work;
177.6. Public performance of the work; and
177.7. Other communication to the public of the work (Sec. 5, P. D. No.
49a)
Intangible assets such as patents, and any other intellectual property
rights may have been legally complied and protected by Technocart
Corporation, but notwithstanding the fact that people are more inclined with
the fast evolving technology, such assets are still likely to be illegally and
unlawfully be used and that this risk cannot, to the very extent, could be
absolutely circumvented by the corporation. Still, it is the responsibility of the
management to lessen the risk. Confidentiality clauses are to be emphasized
and signed in the agreement with the people responsible in doing the
systems and designs.
LEGAL
The Technocart Corporation is to keenly observe all legal jurisdictions,
implications and legalities of sustaining a business here in the Philippines. All
economic activities of the organization must be made under the recent and
present laws under the Republic of the Philippines.
It is to take into considerations all of the general rules set that may
affect the conduct of business of the corporation. The rules and provisions
that the entity has to comply with in good faith are the following but not
limited to:
Civil Code Book IV: Obligations and Contracts
Batas Pambansa Bilang 68: Corporation Code of the
Philippines
The laws on sales, agency and credit transactions
Republic act 2031: The negotiable instruments law
Business Registration
For regulatory purposes and to avoid any legal problems, Technocart
Corporation is required by the state to be registered first before the
commencement of its economic activities. Noncompliance to business
registration renders the business illegal. The set of requirements which must
be conformed with are as follows:
Technocart Corporation must submit fully furnished BIR Form 1903 Application for Registration for Corporatio
The President of Technocart Corporation should accomplish and sign the SS Forms R-1 (Employer Registration)
5. Philippine
Health
Insurance
Corporation
(PhilHealth)
Registration
To provide social health insurance coverage to employees, Technocart Corporation must register Employer Da
Employer Registration
Checklist of Requirements
Employers Data Form (EDF) (HQP PFF-002)
Specimens Signature Form (SSF) (HQP-PFF-002)
Valid ID
SSS Certification
Certified true copy of SEC Articles of Incorporation and By-Laws, and Business or Mayors Permit
TAXATION
One of the three inherent powers of the state is taxation. Taxation is a
power by which an independent state, through its law-making body, raises
and accumulates revenue from its inhabitants to pay the necessary expenses
of the government. It is also a process or act of imposing a charge by
governmental authority on property, individuals or transactions to raise
money for public purposes. Taxation is a means by which the Sovereign State
through its law-making body demands for revenue in order to support its
existence and carry out its legitimate objectives.
Tax Implications
Technocart Corporation, a domestic corporation organized in the
Philippines under Philippine law, shall execute the performance of all tax
obligations levied upon by the government regulating body and taxing
authority. It is the duty of Technocart Corporation to justly report right taxes
enumerated by the taxing authority to contribute for the development of
nation.
BIR Form 2303 Certificate of Registration furnishes all tax dues and
the related compliance requirements. Technocart Corporation will execute the
following obligations imposed by the government authority:
1. Registration Fees
Annual registration fee of P500.00 accompanied with BIR
Form 0605 is to be furnished yearly on or before the last day of
January of the succeeding year after the initial registration.
2. Income Tax
Technocart Corporation, as a starting corporation, is subject
to the following income taxes:
a. Normal Corporate Income Tax (NCIT)
Technocart Corporation is required to accomplish BIR
Forms 1702Q for the first three quarters each year (On or before
the 60th day after the end of the quarter), and 1702 for annual
tax return (On or before the 15th day of the fourth month of the
succeeding year). A tax rate of 30% is applied to the Net Taxable
the Total Gross Income subject to MCIT to 2%. Any excess of the
minimum corporate income tax over the normal income tax shall
be carried forward and credited against the normal tax
immediately for three (3) succeeding taxable years.
Technocart Corporation has to observe that any amount of
excess of MCIT shall be recorded in the corporations books as
an asset as Deferred charges, MCIT. Such amount shall be
removed and deducted from Deferred charges, MCIT account
by a debit entry to Retained Earnings account since this tax is
not allowable as deduction from the gross income, it being an
income tax. (Rev. Reg. 9-98)
Payment of MCIT is mandatory be paid quarterly as per
BIR Form 1702Q every 60th day after the end of every quarter.
Annual income tax return as per BIR Form 1702 has to be paid
on or before 15th day of the fourth month of the succeeding year.
3. Withholding Taxes
tax
withheld
by
Technocart
Corporation
will
be
remitted and
paid
treated as other income if the SIV is greater than the AIV. The
difference is treated as an addition to the cost of sales or operating
expense if the AIV is greater than the SIV.
5. Improperly Accumulated Earnings Tax (IAET)
Technocart Corporation, as a closely-held corporation, is also
subject to Improperly Accumulated Earnings Tax (IAET) of 10% of
the corporate Improperly Accumulated Earnings. The IAET is an
additional tax to the regular corporate income tax imposed on
corporations. Under the law, a corporation becomes liable to the tax
if its profits and earnings are improperly accumulated or retained,
instead of being distributed as dividends to the stockholders. In this
sense, IAET is also regarded as a corporate penalty tax.
Other Obligations
Technocart Corporation has its obligations to appropriately deduct and
justly remit employees contributions in Social Security Systems, Home
Development Mutual Fund (HDMF/Pag-ibig) and PhilHealth. As an employer,
Technocart Corporation is also obliged to pay its own rightful amount of
contribution to the following government agencies:
1. SSS Contributions
7-8
9-0
month
25 day of the following
month
last day of the following
month
th
2. HDMF Contributions
Schedule of Payments
MCRF HQP-PFF-053
First Letter
Due Date
ofEmployer/Busin
ess Name:
A-D
E-L
M-Q
R-Z, numeral
3. PhilHealth Contributions
Submission of Forms
RF 1 Employers Quarterly Remittance
Report
Applicable
Deadline of Submission
Quarter
January to March
On or before April 15
April to June
On or before July 15
July to September
On or before October 15
October to
December
On or before January 15 of
the succeeding year
TOTAL
138,80
Organization Expense