In this article, you will get to know about the SSS Contribution Table 2024: How to check your contributions, how to pay, and everything else you need to know. For 2024, the Social Security System (SSS) has set new contribution rates for both employers and employees in the Philippines.
These contributions operate with collective responsibility, requiring members to contribute a portion of their income to the federal system to receive financial benefits in return.
These contributions are outlined in the monthly contribution table based on the SSS members’ salaries. To learn more about the SSS Contribution Table 2024, how to contribute, and more, continue reading this article.
SSS Contribution Table 2024
In 2024, the Social Security System contribution rate is set at 14%, with 9.5% covered by employers and 4.5% by employees. The monthly salary range for contributions is between ₱4,000 and ₱30,000. The SSS contribution table is a document that outlines the required contributions for SSS members in the Philippines.
The SSS Contribution Table is based on the recipient’s salary and their membership status in SSS. Members must make monthly contributions to receive benefits and services from the federal organization, which include retirement, disability, pensions, loans, and other forms of financial assistance. These benefits are entirely funded by contributions from both employers and employees.
How to Check Contributions
To check your SSS contributions, follow these steps:
- Log in to the SSS Portal: Visit the Social Security System’s official website and access your account.
- Navigate to Contributions: On the homepage, you will see four buttons on the upper right panel. Select “Contribution” to be redirected to a new webpage.
- Fill Out Required Details: Enter the necessary details to access the SSS contribution inquiry page, which will display your monthly contributions, SE/VM contributions for voluntary members or self-employed individuals, WISP Plus, Flexi Fund, and WISP.
You can also check your contributions via text. Send an SMS with your valid SSS number and PIN to 2600.
How to Pay SSS Contributions
To pay your SSS contributions, ensure you meet the criteria outlined in the SSS Contribution Table. Then, follow these steps:
- Log in to Your SSS Account: Access your account on the Social Security System portal.
- Obtain a Payment Reference Number (PRN): Log in with GCash or any BIP mobile application.
- Pay Your Contribution:
- Go to the “Pay Bills” section.
- Select “Government” and then “SSS Contribution.”
- Fill out the application form with the required details.
- Click “Next” to receive the payment details.
Alternatively, you can pay your SSS contributions at SSS branches or partner banks, which 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 payment schedule, which is based on monthly contributions from its members, including employees and employers. These contributions are made with short wages and limited budgets, considering additional expenses and employment status. The table includes ranges of compensation, monthly salary credits, the total contribution amount, and the type of membership.
Both employers and employees must qualify to receive SSS benefits, which include salary loans, death benefits, disability benefits, retirement benefits, unemployment separation benefits, and sickness benefits. Individual members can also verify their contributions using the SSS Contribution Table. The table aligns with the recipient’s income, determining benefits and loans available through the Social Security System.
FAQs:
What are the SSS contribution rates for 2024?
The contribution rate for 2024 is 14%, with 9.5% covered by employers and 4.5% by employees.
How can I check my SSS contributions?
You can check your contributions by logging into the SSS portal, navigating to the “Contribution” section, and entering the required details. You can also check via text by sending your SSS number and PIN to 2600.
How do I pay my SSS contributions?
Pay your contributions by logging into your SSS account, obtaining a PRN, and using GCash or any BIP mobile application. You can also pay at SSS branches or partner banks.
What benefits are covered by SSS contributions?
SSS contributions cover various benefits, including retirement, disability, pensions, salary loans, death benefits, unemployment separation benefits, and sickness benefits.