The SSS Contribution table shows the rates that employers and employees must pay to the Social Security System (SSS). These contributions are important because they ensure that members can receive benefits when needed. In 2024, the SSS contribution rate is 14% of each month’s earnings, with 4.5% paid by employees and 9.5% by employers.
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SSS Contribution Table 2024
The contribution rates of the Social Security System in the Philippines have been revised. These contributions play a crucial role as they offer financial benefits such as:
- Disability benefits
- Retirement benefits
- Other benefits
The SSS Contribution table helps members understand how their contributions are calculated to ensure they meet the requirements for SSS benefits.
How to Check Your SSS Contribution
To check your SSS contribution, follow these steps:
- Go to the official SSS website and log in to your account using your User ID and password.
- After logging in, find the ‘Contribution’ tab on the Home Page and click on it to go to the SSS Contribution inquiry page.
- On the inquiry page, you can see details about your contributions, including those for self-employed or voluntary members and contributions under programs like WISP Plus and the Flexi Fund.
- You can also check your SSS contribution by sending a text message with your SSS number and PIN to 2600.
SSS Contribution Rate 2024
The monthly earnings that are subject to contributions fall between ₱4,000 and ₱30,000. Individuals can utilize the SSS Contribution table to establish the appropriate amount to remit based on their income. The existing SSS rates encompass 14% of a member’s earnings, which are split between employers and employees in the following manner:
Contributor |
Contribution Rate |
|---|---|
Employers |
9.5% |
Employees |
4.5% |
Log into your SSS account, go to the contribution section, and review your payment details. Note that individuals who have not contributed to SSS for several years are no longer entitled to the privileges and benefits provided for having made contributions.
How to Pay Your SSS Contributions in 2024
If you are unsure how to pay your SSS contribution, follow this guide:
- Log into your SSS account on the official website.
- Generate a PRN (Payment Reference Number) using your SSS account.
- Select a payment method that fits your needs. If you opt to pay with GCash or a mobile payment app, sign in to your GCash or the app.
- Select ‘Pay Bills’, then choose ‘Government’, and finally ‘SSS Contribution’.
- Please complete the application form with the required details and follow the instructions to complete the payment.
You have the option to make your payments at SSS branches or at affiliated banks.:
- Asia United Bank
- Philippine Business Bank
- Bank One Savings Bank
- First Isabela Cooperative Bank
- Bank of Commerce
Latest Updates on SSS Contributions
According to Philippine law, it is illegal for a worker to be employed by more than one company. This is called double employment and can lead to disciplinary action by employers, such as termination of employment. Those working for two companies must ensure that government benefits like social security and health insurance are accurately reported.
Failure to disclose this information may lead to penalties and legal troubles. SSS states that anyone making contributions to multiple accounts must inform their employers and provide their SSS number to ensure timely deposit of their contributions and prevent overpayment.
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