Question: How Much Is The Monthly Contribution For SSS?

How much is SSS contribution for unemployed?

RA 11199, which requires SSS to pay unemployment benefits to jobless members, is the same law that raises the SSS contribution rate from 11% to 12% in 2019, 13% in 2021, 14% in 2023, and 15% in 2025.

Two-thirds of the increase will be shouldered by the employer, while one-third will be deducted from the employee..

What is the retirement age in SSS?

60 years oldA member is qualified to avail of this benefit if: Member is 60 years old, separated from employment or ceased to be self-employed, and has paid at least 120 monthly contributions prior to the semester of retirement.

What is EC in SSS contribution table?

The Employees’ Compensation (EC) program aims to assist workers who suffer work-connected sickness or injury resulting in disability or death. The benefits under the EC program may be enjoyed simultaneously with benefits under the social security program effective June 1984.

How is SSS monthly contribution calculated?

The total amount of an employee’s SSS contribution is computed at 11% of the monthly salary (with a salary ceiling of Php16,000), but this is actually shared between the employee and the employer – the employee shoulders 3.63% while the employer pays for the remaining 7.37%.

How long should I pay my SSS contribution?

If with less than 120 monthly contributions, the member shall be entitled to a lump sum amount equivalent to the contributions paid by him/her and on his/her behalf. However, member has the option to continue paying contributions to complete the 120 months to become eligible for monthly pension.

Can I still pay my SSS contribution late?

“For self-employed, voluntary, and non-working spouse members, they can pay their SSS contributions for the applicable months of January, February and March 2020, or the first quarter of 2020 until June 1, 2020. …

Can I still pay my SSS contribution last year?

If you are an OFW, your payment of contributions for the months of January to December of a given year may be paid any time within the same year. You may also pay your contributions for the months of October to December of a given year until January 31st of the following year.

What are the requirements for SSS self employed?

How to Register in SSS as Self-Employed Member? A self-employed person should accomplish SSS Form RS-1 (Self-Employed Data Record) and submit it together with a photocopy of any of the following baptismal, birth certificate, driver’s license, passport, Professional Regulation Commission (PRC) Card, Seaman’s Book.

What are the benefits of the SSS self employed member?

SSS BENEFITS FOR SELF-EMPLOYED MEMBERSSickness Benefit. Daily cash allowance paid to a member for the number of days he/she is unable to work due to sickness or injury.Maternity Benefit. … Disability Benefit. … Retirement Benefit. … Funeral Benefit. … Death Benefit. … A. … Temporary Total Disability or Sickness.More items…•

How can I pay my SSS contribution for self employed?

Self-employed/voluntary members should:Pay your contributions using SS Form RS-5 (Contributions Payment Return) monthly or quarterly in accordance with the prescribed schedule of payment. … Register with My.More items…

How much is the minimum SSS contribution for voluntary?

Voluntary members and self-employed members need to pay 11% of their monthly salary credit, based on the amount they declared upon registration. OFWs pay a minimum monthly salary credit of P5,000. Contributions for non-working spouses are based on 50% of the working spouse’s last posted monthly salary credit.

Where can I pay my SSS monthly contribution?

Meanwhile, regular and household employers can pay SSS contributions through the following bank web facilities: BPI Bizlink, Security Bank DigiBanker, and UnionBank OneHUB. Employers can also pay their SSS obligations using the eGov BancNet Online.

How much is the highest SSS pension?

To date, the highest amount of pension being paid by SSS for a retiree-pensioner is P18,945 while the minimum amount of pension is P2,000. These include the P1,000 additional benefit.

What does ER mean in SSS contribution table?

Employer’s contributionSSS contribution table: ER – Employer’s contribution. EE – Employee’s Contribution. EC-ER – Employee’s Compensation Program. SE – Self Employed.

What is the maximum SSS contribution?

From April 2019, the SSS contribution rate will increase from 11% to 12% – an increase of 1%. The % contribution rate is based on minimum monthly salary credits (MSC) which in turn is based on an individual’s compensation. The maximum MSC will also increase, from PHP16,000 to PHP20,000, effective April 2019.

How much is the monthly contribution in SSS for self employed?

For self-employed and voluntary members, the contribution rate is 11% of the monthly salary credit (MSC) based on the monthly earnings declared at the time of registration. For OFWs, the minimum monthly salary credit is pegged at ₱5,000.

What is the maximum contribution for SSS self employed?

For Self-Employed, Voluntary Members/Non-Working Spouses, the minimum and maximum total monthly contributions are PHP 240 and PHP 2,400, respectively. NOTE: The contribution of a Non-Working Spouse is based on 50 percent of the monthly salary credit of his/her working spouse.

What will happen if I stop paying my SSS contribution?

Once you become an SSS member, you’re covered for life even if you miss your monthly payments. There’s no penalty for individual members who fail to pay their contribution for a certain period. However, the SSS doesn’t allow members to make retroactive payments just so they qualify for a loan or benefit.