In this article, you will learn about the SSS Contribution Table 2024, including how to check your contribution and how to make payments. For 2024, the Social Security System (SSS) in the Philippines has established new contribution rates for both employers and employees. These contributions are a collective responsibility, requiring members to allocate a portion of their income to the federal system in exchange for financial benefits. The contributions are detailed in a monthly contribution table based on SSS membership. To find out more about the SSS Contribution Table 2024, how to make contributions, and additional information, please continue reading.
SSS Contribution Table 2024
In 2024, the Social Security System (SSS) in the Philippines has established a contribution rate of 14%. This rate is divided into 9.5% for employers and 4.5% for employees, based on monthly salaries ranging from R4,000 to P30,000. The SSS contribution table details the specific payments required under this system.
The SSS Contribution Table is determined by the recipient’s salary and their membership status with SSS. Contributors must make monthly payments to SSS to qualify for the benefits and services offered by this federal organization. These contributions support various benefits, including retirement, disability, pensions, and financial assistance such as loans. The contributions are funded jointly by employers and employees.
How to check Contribution?
To check your SSS contributions, follow these steps:
- Visit the official Social Security System (SSS) website and log in to your account.
- Once logged in, you will see four buttons on the upper right panel of the homepage. Select “Contribution” to be redirected to a new webpage.
- On this new page, fill in the required details and click on the SSS contribution inquiry page. Here, you will find details of your monthly contributions, including SE/VM contributions for voluntary or self-employed members, WISP Plus, Flexi Fund, and WISP.
By using the www.sss.gov.ph portal, you can check your SSS Contribution Table by entering your User ID and Password. Additionally, you can check your contribution by texting your valid SSS number and PIN to 2600.
How to Pay SSS Contribution?
To pay your SSS contribution, you must first check if you meet the criteria outlined in the federal SSS Contribution Table. If you are eligible, follow these steps:
- Log in to your Social Security System (SSS) account.
- Obtain a Payment Reference Number (PRN).
- Log in to GCash or any other participating mobile banking application.
- Select the option to pay bills, then choose “Government” and “SSS Contribution.”
- Fill out the application form, provide the necessary details, and click “Next” to review your information.
You can also pay your SSS contribution at an SSS teller or partner bank. The partner banks include Asia United Bank, Bank One Savings Bank, Philippine Business Bank, Bank of Commerce, and First Isabela Cooperative Bank.
All We Know
The SSS Contribution Table outlines the annual payments scheduled with monthly contributions from its members, which include both employees and employers. These contributions are made based on modest wages and limited budgets, considering additional expenses and employment status. The table comprises a range of compensation, monthly salary credits, total contribution amounts, and membership types.
Both employers and employees must qualify to receive SSS benefits, such as salary loans, death benefits, disability benefits, retirement benefits, unemployment separation benefits, and sickness benefits. Individual members can also use the SSS Contribution Table to verify their contributions. The table is aligned with the recipient’s income, which determines the benefits and loans available through the Social Security System.