Want to know how much you need to pay for your monthly SSS Contribution for 2018? You are in the right place! We got the most recent and up-to-date SSS Contribution table 2018. Whether you are an employee, self-employed, OFW, or voluntary member, you need to see this new set of monthly contribution.
Update: Members and employers are required to register an SSS Online Account. Social Security System is currently making a move to put up an online system and digitize the transactions.
You can now actually view all your premium contributions, your membership information, and employment history. These things are Social Security System’s initial steps towards a full-pledge online system.
Table of Content:
- Social Security System Contribution Table
- Reading the SSS Contribution Table
- Self Employed, Voluntary Member, OFW Contributions
- Acquiring SS Benefits
SSS Contribution Table 2018
The amount of contribution per month is based on the compensation of the member. The member’s contribution is 11% of the monthly salary credit not more than P16,000. The total premium will be shared by the member (3.63%) and the employer (7.37%).
If your salary is P 20,000 or P 30,000, your monthly contribution will be based on P 16,000 because it’s the highest monthly salary credit. Based on the table, you will pay P 581.30 and your employer will pay P 1,178.70, for a total of P 1790.00 per month.
To avoid penalties or additional troubles, it’s important to be aware of the deadlines when to pay your contributions or loans. Failure to pay on time may result to penalties or delays in processing your sss benefits and loans.
Reading the SSS Contribution Table
Using the SSS Contribution Table above, you can determine if the monthly deduction from your salary is correct. It’s always better to understand the reason behind the amount being deducted on your salary to have the peace of mind.
Here are the meaning of the acronyms on the table:
- EE – Stands for Employee contribution. This is your contribution which is 3.63% of your monthly salary.
- ER – Stands for Employer contribution. The contribution of your employer which is 7.37% of your monthly salary credit.
- EC – Stands for Employee Compensation program. This solely shouldered by your employer.
Steps in determining your sss monthly contribution:
1. First thing to look for is your salary range on the leftmost part of the table. Determine the row of the corresponding compensation range where your monthly salary falls.
For example, if you’re earning P 13,600.00, your salary falls on P 13,250 – P 13,749.99 range. That will be your row of concern.
2. To check how much you need to pay monthly, see your salary’s corresponding EE column.
The EE for this example is P 490.50. This should be the amount you are seeing on your payroll’s monthly deduction for your sss membership.
3. Your employer’s contribution can be seen on the ER column.
In this example, the employer will shoulder P 994.50 for ER and additional P 10 for EC program. Your employer’s total contribution sums up to P 1,004.50.
Easy as ABC, right?
SE, VM, OFW Contribution
For SSS Self Employed (SE), Voluntary Member (VM), or Overseas Filipino Worker (OFW), your concern is the last column of the contribution table labeled SE/VM/OFW Total Contribution.
Since there is no employer in this case, the total amount of contribution will still be based on the monthly salary. However, the total amount is solely shouldered by the member.
Acquiring SSS Benefits
If you want to learn more about the benefits you can get from SSS, the qualifying conditions, allowances, duration, and etc, you can check this article List of SSS Benefits. The article talks about the typical benefits members claim such as Benefit for Sickness, Salary Loan, Maternity Benefit, Disability Benefit and more.
Lastly, whenever you got questions or inquiries, do not hesitate to ask the HR staff in your company that handles the SSS membership accounts. Most of the HR know the answers to your questions because that’s one of their primary job.
Ang mapagtanong, daig ang marunong
I hope you find this post helpful. Please don’t forget to share this to your friends, co-workmates, and loved ones who need these information.
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