With the year nearing its end, it’s prudent to prepare for possible updates in rates and fees across government agencies, including the Social Security System (SSS).
Each new year typically brings changes, so staying informed about these adjustments is crucial.
Below, we provide the current practical contribution rate tables from the SSS. Any rate revisions will be promptly updated here to ensure you stay informed.
Employer Obligations and Contributions to SSS
Philippine employers are legally obligated to remit contributions to the Social Security System (SSS) on behalf of their employees.
Timely and accurate payments are essential for maintaining valid SSS records and ensuring employees’ eligibility for Social Security benefits when needed.
Historically, the SSS has set deadlines for contribution payments based on the last digit of an employer’s or member’s SSS number.
However, for 2023, the agency has advised members to submit payments by the final day of the following month or quarter.
Guidelines for SSS Contribution Payment Timing
The schedule for remitting SSS contributions varies depending on your membership status:
- Regular employers must submit payments by the last day of the following month.
- Self-employed individuals must remit payments by the last day of the subsequent month or quarter.
- Individuals engaged in the informal sector, such as self-employed farmers and fisherfolk, have the flexibility to contribute to the Social Security System (SSS) throughout the year.
Keeping track of these deadlines and ensuring timely contributions is essential, as adherence fulfills obligations and guarantees access to the wide range of benefits provided by the Social Security System.
SSS Contribution Tables for 2024:
Employer (ER) and Employee (EE)
Employer (ER) denotes the entity or individual hiring employees responsible for deducting SSS contributions from employee salaries.
By law, employers must remit these deductions, along with their share, to the SSS on behalf of their employees.
Employees contribute a portion of their salary to the Social Security System (SSS) through deductions made by their employers.
These contributions are essential for establishing eligibility for various SSS benefits, including retirement, disability, sickness, and maternity support.
Household Employer (HE) and Kasambahay/Household Employee (HE)
In the Philippines, the Household Employer (HE) and Kasambahay or Household Employee (HE) describe the relationship between a household employer and their domestic worker.
The SSS requires household employers to register their kasambahay with the SSS to ensure they receive social security benefits and protection.
It is the responsibility of the household employer to enroll their kasambahay in the SSS, make contribution payments, and facilitate access to benefits, including health insurance, retirement, and other social security privileges.
Land Based-OFW Members
Land Based-OFW Members are overseas Filipino workers (OFWs) engaged in various land-based roles overseas who also participate in the SSS system.
This category encompasses OFWs in domestic service, healthcare, construction, hospitality, and other land-based professions abroad.
By contributing to the SSS, these workers secure social security benefits and financial support while working overseas and upon their eventual return to the Philippines.
Self-Employed Member
A Self-Employed Member is an individual who works independently without being employed by someone else.
This category includes freelancers, entrepreneurs, professionals, and sole proprietors managing their businesses.
As members of the SSS, self-employed individuals must make consistent contributions to the SSS fund.
This ensures their eligibility for retirement, disability, sickness, maternity, and death benefits.
Contributions are determined based on their declared monthly earnings.
Voluntary Member and Non-Working Spouse
Voluntary Social Security System (SSS) members are individuals who are not employed or self-employed but choose to contribute to the program.
This category includes freelancers, entrepreneurs, and other individuals without formal employment who desire to establish social security coverage.
Non-working spouses, conversely, are partners who do not engage in income-generating activities or formal employment but are married to an SSS member.
They can be covered under their working spouse’s SSS membership by registering as dependent beneficiaries and voluntarily contributing to the SSS fund.
Promptly paying Social Security System (SSS) contributions is essential for securing and maintaining various benefits, including pensions, disability, maternity, and sickness support.
Failure to do so can result in financial penalties, delayed or denied claims, and potentially the loss of benefits altogether.
Additionally, overdue contributions may incur significant interest charges. To safeguard financial security and access vital social security programs, it is crucial to prioritize timely SSS payments.
