Effective April: SSS New Contribution Table 2019
Heads up! There is a new SSS Contribution Table for 2019! Under the Circular No. 2019-005 addressed to All Employers (ER), Employees (EE), Self-employed, Voluntary and Non-working spouse members there will be….
Published: March 30, 2019 Heads up! There is an SSS New Contribution Table 2019!
Effective April 2019, under the Circular No. 2019-005 addressed to All Employers (ER), Employees (EE), Self-employed, Voluntary and Non-working spouse members there will be a revised schedule of SSS New Contribution Table 2019.
The new schedule is in line with the Republic Act No. 111999, known as the Social Security Act of 2018 wherein contribution rate increased by 12%, minimum Monthly Salary Credit (MSC) to 2000.00 and maximum MSC to 20,000 by year 2019.
The SSS New Contribution Table 2019
Starting April 2019, the new schedule for SS Contributions of ER, EE, self-employed, voluntary members and non-working spouse will be based on the latest table, this is under the Social Security Commission (SSC) Resolution No. 16-s. 2019 dated March 13, 2019.
FREQUENTLY ASKED QUESTIONS:
- Who is responsible to comply with the SSS New Contribution Table 2019?
Both employees and employers need to comply to the new contribution table. A portion of the salary of the employee will be deducted that equates to one third of the payment and the remaining two-thirds of the amount will be paid by the employer to the SSS.
- How much is the increase?
There will be a 1% increase from the current 11%, making the total contribution rate to 12%. The R.A. No. 11199 also stated that there will be an increase in the contribution rate of 1% every second year until the year 2025.
- Are self-employed individuals affected by the increase?
Self-employed individuals are also affected by the recent increase. They should follow the latest table to ensure proper calculation of their contributions or visit SSS Website to ask for assistance.
- How does this affect an employer?
All employers will contribute a certain percentage from their employees’ monthly salaries and pay it to SSS that will become contributions which the employees can use during their retirement and other social security benefits like maternity, disability and sickness benefit
Download a copy of the SSS New Contribution Table 2019 here.
