Sss Self Employed Contribution Bracket, Guide How To Get Your Sss Payment Reference Number Legal Gulf News

If you are a self employed or a voluntary member the prescribed schedule of payment is also being followed depending on the 10th last digit of the sevm ss number.

Federal government taxes implemented on employers in order to provide unemployment benefits. Range of compensation monthly salary credit ss contribution ec contribution. However the following shall be observed. Summary of sss benefits.

The employer pays 8 while the employee pays 4. Employed members are required to pay 12 of their monthly salary credit msc not exceeding p20000. Pay your contributions using ss form rs 5 contributions payment return monthly or quarterly in accordance with the prescribed schedule of payment.

What you need to know to read the new sss contribution table. Basically monthly contributions are computed based on the salary bracket to which a member is categorized. Pay your contributions following the payment deadline to avoid application of payments prospectively.

Before paying register as self employed using sss rs1 form with proof of source of regular income ors sales ors sales commission receipts business permit etc. The monthly ec contribution of an se is either of the two. 2020 sss contribution table for self employed voluntary or overseas filipino workers.

It is also depends on whether you are employed self employed a voluntary member a non working spouse or an overseas filipino worker ofw. Beginning 01 january 2004 self employed and voluntary members including ofws may change their msc monthly. Range of compensation is an employees basic salary or a kasambahays basic salary.

However the frequency of contribution payments for self employed or a voluntary member can be on a monthly or quarterly basis. Msc is the compensation base or salary level for contributions and benefits related to the members total earnings for the month. The contribution rate for overseas filipino workers ofws earning less than p8250 monthly is p960 and p2400 for those with more than p19750 monthly.

For self employed voluntary non working spouse farmerfisherman b. For self employed and voluntary members. Sss contribution table 2020.

Fill out the following portions. The employees compensation commission ecc issued on march 6 2019 board resolution no. Here is the new sss contributions table for employed self employed voluntary and non working spouse sss members for ofw members.

There are basically two types of sss members employees and self employed voluntary member or overseas filipino worker sevmofw. For household employers and kasambahay if you want here is the new sss contributions table for employed sss members. 19 03 05 the policy on expanding the coverage of the employees compensation program ecp to the self employed se compulsory members of the social security system.

When you apply for a loan or a benefit sss uses this bracket to determine how much you are entitled to.