Start contributing to a State-run pension fund for your employees.
The Philippine government is bound to protect the welfare of employees and workers in the country. That is why through labor and social security laws, it mandates and obliges businesses and employers to ensure that their hired employees or laborers are covered by viable tax-exempt social security service and protection against the hazards of disability, sickness, maternity, old age, death, and other contingencies resulting in loss of income (Republic Act No. 8282, Social Security Act of 1997, Section 2). Thus, if you own a company and employs people to carry out your business, you have to comply with the law and register your business with the Philippine Social Security System (SSS).