Check out the latest updates on the SSS Contribution Table 2024: How to Check and Pay Contributions – All We Know Here. As of 2024, the Social Security System has released new contribution rates for workers as well as employers in the Philippines.
SSS Contribution Table 2024
The SSS Contribution table comprises rates that employers and employees have to pay to the Social Security System. These investments are significant to ensure that members can avail of benefits when required. In 2024, the SSS contribution rate is strike at 14% of each month’s earnings, with 4.5% funded by the employees and 9.5% by the employer.
The Philippines’s Social Security System has updated its contribution rates. These contributions are crucial as they deliver financial benefits such as disability, retirement and many more. The SSS Contribution table is important for understanding how the contribution is calculated to ensure members meet the requirements for SSS benefits.
How to Check SSS Contribution?
As per the latest updates the PhilHealth investments are adjusted from 4% to 5% this year. To know your SSS contribution, follow the list of steps we have shared in this section.
- Navigate to the authentic portal of the SSS and log in to your account using your User ID and password.
- Once you have logged in, look for the ‘Contribution’ tab available on the Home Page. Tap to reach out to the SSS Contribution inquiry page.
- On the contribution inquiry page, you can view details regarding your contributions, including any for self-employed or voluntary members, as well as contributions under various programs like WISP Plus and the Flexi Fund.
Apart from this, you can review your SSS contribution via text by sending a message with your SSS number and PIN to 2600.
SSS Contribution Rate 2024
The contributions apply to monthly salaries ranging from ₱ 4,000 to ₱ 30,000. Using the SSS Contribution table, individuals can determine what they need to pay based on their salary. Currently, the SSS rates have been set at 14% of a member’s income. This rate is further bifurcated between employers and employees as:
| Contributor | Contribution Rate |
| Employers | 9.5% |
| Employees | 4.5% |
In a nutshell, simply log into the SSS account, navigate to the contribution section and review your payment details. It is important to note that individuals who have not made any contribution to SSS for several years are no longer entitled to privileges and benefits provided for having made contributions.
How To Pay Contributions 2024
If you are unaware of how you can pay your SSS contribution, then follow the guide we have shared here.
- Similiar to checking your contributions, begin with logging into your SSS account on the official portal.
- Now, generate a PRN, which is required to make your payment. This can be done using your SSS account.
- Now select a payment option as per your preference. If you are paying using GCash or a Mobile payment application, you need to log in to GCash or any application.
- Then select ‘Pay Bills’, then choose ‘Government’, and lastly ‘SSS Contribution’.
- Fill out the application form with the required details and folow the shared on the form to complete the payment.
Individuals can also pay their contributions at SSS branches or through partnered banks, including Asia United Bank, Philippine Business Bank, Bank One Savings Bank, First Isabela Cooperative and Bank Bank of Commerce.
SSS Contribution Latest Updates
As per the Philippine law, it is illegal for a worker to be employed by more than one company. This is termed as double employment and may lead to disciplinary action by the employers like termination of employment. Those who are working under two companies must ensure that the Government benefits such as social security and health insurance are being accurately reported.
Failure to not reporting this information can outcome in penalties and even legal issues. As per SSS, any individual contributing to multiple accounts must notify their companies and submit the SSS number to ensure their contribution is timely deposited within their account and to avoid paying more than the required amount to the system. To acquire more information on such a trendy topic, keep visiting our portal.