10-08-2013, 08:33 AM #1
- Join Date
- Jul 2011
- In the Philippines
- Thanked 65 Times in 63 Posts
New SSS Contribution Schedule effective January 2014
Hello everyone! The Philippines Social Security System (SSS) has issued a New Contribution Schedule / Table which shall be implemented effective January 2014.
SE/VM/OFW members who have already paid their contributions in advance for the applicable months of January 2014 onwards based on the old contribution schedule are advised as follows:
- Those with advance payments at the minimum MSC of P1,000 (P5,000 for OFW members) shall settle underpayments amounting to P6.00 per month (P30.00 per month for OFW members); otherwise, such advance payment shall be deemed as ineffective contributions; and
- Those with advance payments at an MSC other than the minimummay opt to pay the corresponding increase in contributions to retain posting at the same MSC; otherwise, such advance payment shall be posted at the applicable lower MSC.
The minimum salary credit for OFW is P5,000. The maximum salary credit has increased from P15,000 to P16,000
Source: https://www.sss.gov.phRead business and other related articles at BusinessTips.Ph
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10-10-2013, 08:57 AM #2
Thanks for sharing!
I don't think this is fair enough. They have given 1M bonuses to their heads and that must be investigated first before implementing this new roll out.