Understanding social security contributions can be confusing for both employees and employers. The Social Security System (SSS) in the Philippines has a table to help make this easier. This guide will explain the SSS Contribution Table, why it matters, and how it affects both employees and employers. Whether you’re an employee trying to understand your deductions or an employer making sure you’re following the rules, this article will help you out.
SSS Contribution Table for Employees and Employers (2024)
| Range of Compensation | Monthly Salary Credit | Employer (ER) | Employee (EE) | Total Contribution |
|---|---|---|---|---|
| Below ₱4,250 | ₱4,000 | ₱380 | ₱180 | ₱560 |
| ₱4,250 – ₱4,749.99 | ₱4,500 | ₱427.50 | ₱202.50 | ₱630 |
| ₱4,750 – ₱5,249.99 | ₱5,000 | ₱475 | ₱225 | ₱700 |
| ₱5,250 – ₱5,749.99 | ₱5,500 | ₱522.50 | ₱247.50 | ₱770 |
| ₱5,750 – ₱6,249.99 | ₱6,000 | ₱570 | ₱270 | ₱840 |
| ₱6,250 – ₱6,749.99 | ₱6,500 | ₱617.50 | ₱292.50 | ₱910 |
| ₱6,750 – ₱7,249.99 | ₱7,000 | ₱665 | ₱315 | ₱980 |
| ₱7,250 – ₱7,749.99 | ₱7,500 | ₱712.50 | ₱337.50 | ₱1,050 |
| ₱7,750 – ₱8,249.99 | ₱8,000 | ₱760 | ₱360 | ₱1,120 |
| ₱8,250 – ₱8,749.99 | ₱8,500 | ₱807.50 | ₱382.50 | ₱1,190 |
| ₱8,750 – ₱9,249.99 | ₱9,000 | ₱855 | ₱405 | ₱1,260 |
| ₱9,250 – ₱9,749.99 | ₱9,500 | ₱902.50 | ₱427.50 | ₱1,330 |
| ₱9,750 – ₱10,249.99 | ₱10,000 | ₱950 | ₱450 | ₱1,400 |
| ₱10,250 – ₱10,749.99 | ₱10,500 | ₱997.50 | ₱472.50 | ₱1,470 |
| ₱10,750 – ₱11,249.99 | ₱11,000 | ₱1,045 | ₱495 | ₱1,540 |
| ₱11,250 – ₱11,749.99 | ₱11,500 | ₱1,092.50 | ₱517.50 | ₱1,610 |
| ₱11,750 – ₱12,249.99 | ₱12,000 | ₱1,140 | ₱540 | ₱1,680 |
| ₱12,250 – ₱12,749.99 | ₱12,500 | ₱1,187.50 | ₱562.50 | ₱1,750 |
| ₱12,750 – ₱13,249.99 | ₱13,000 | ₱1,235 | ₱585 | ₱1,820 |
| ₱13,250 – ₱13,749.99 | ₱13,500 | ₱1,282.50 | ₱607.50 | ₱1,890 |
| ₱13,750 – ₱14,249.99 | ₱14,000 | ₱1,330 | ₱630 | ₱1,960 |
| ₱14,250 – ₱14,749.99 | ₱14,500 | ₱1,377.50 | ₱652.50 | ₱2,030 |
| ₱14,750 – ₱15,249.99 | ₱15,000 | ₱1,425 | ₱675 | ₱2,100 |
| ₱15,250 – ₱15,749.99 | ₱15,500 | ₱1,472.50 | ₱697.50 | ₱2,170 |
| ₱15,750 – ₱16,249.99 | ₱16,000 | ₱1,520 | ₱720 | ₱2,240 |
| ₱16,250 – ₱16,749.99 | ₱16,500 | ₱1,567.50 | ₱742.50 | ₱2,310 |
| ₱16,750 – ₱17,249.99 | ₱17,000 | ₱1,615 | ₱765 | ₱2,380 |
| ₱17,250 – ₱17,749.99 | ₱17,500 | ₱1,662.50 | ₱787.50 | ₱2,450 |
| ₱17,750 – ₱18,249.99 | ₱18,000 | ₱1,710 | ₱810 | ₱2,520 |
| ₱18,250 – ₱18,749.99 | ₱18,500 | ₱1,757.50 | ₱832.50 | ₱2,590 |
| ₱18,750 – ₱19,249.99 | ₱19,000 | ₱1,805 | ₱855 | ₱2,660 |
| ₱19,250 – ₱19,749.99 | ₱19,500 | ₱1,852.50 | ₱877.50 | ₱2,730 |
| ₱19,750 – ₱20,249.99 | ₱20,000 | ₱1,900 | ₱900 | ₱2,800 |
| ₱20,250 – ₱20,749.99 | ₱20,500 | ₱1,947.50 | ₱922.50 | ₱2,870 |
| ₱20,750 – ₱21,249.99 | ₱21,000 | ₱1,995 | ₱945 | ₱2,940 |
| ₱21,250 – ₱21,749.99 | ₱21,500 | ₱2,042.50 | ₱967.50 | ₱3,010 |
| ₱21,750 – ₱22,249.99 | ₱22,000 | ₱2,090 | ₱990 | ₱3,080 |
| ₱22,250 – ₱22,749.99 | ₱22,500 | ₱2,137.50 | ₱1,012.50 | ₱3,150 |
| ₱22,750 – ₱23,249.99 | ₱23,000 | ₱2,185 | ₱1,035 | ₱3,220 |
| ₱23,250 – ₱23,749.99 | ₱23,500 | ₱2,232.50 | ₱1,057.50 | ₱3,290 |
| ₱23,750 – ₱24,249.99 | ₱24,000 | ₱2,280 | ₱1,080 | ₱3,360 |
| ₱24,250 – ₱24,749.99 | ₱24,500 | ₱2,327.50 | ₱1,102.50 | ₱3,430 |
| ₱24,750 and over | ₱25,000 | ₱2,375 | ₱1,125 | ₱3,500 |
The key points about the 2024 SSS Contribution Table are:
- The maximum monthly salary credit (MSC) has been increased to ₱25,000 from the previous ₱23,000[1][2].
- The minimum MSC is now set at ₱4,250, up from ₱3,000 previously[1][2].
- The total contribution rate has increased to 14% of the MSC, with the employer share at 9.5% and the employee share at 4.5%[1][2].
- An additional ₱30 is added to the employer’s share for the Employees’ Compensation (EC) program for MSCs of ₱15,000 and above[1].
- Self-employed members pay the full 14% contribution rate plus the additional EC contribution of ₱30 for MSCs of ₱15,000 and above[1].
The new contribution table aims to provide higher benefits to SSS members while ensuring the long-term sustainability of the social security system in the Philippines[1][2].
What is the SSS Contribution Table?
The SSS Contribution Table shows the rates for different types of jobs, including salaried employees. It gets updated every year to match changes in wages and the economy. The table helps employers and employees know their responsibilities and plan accordingly.
Why is the SSS Contribution Table Important?
Understanding the SSS Contribution Table is important because:
- Compliance: Employers need to follow the rates to avoid penalties.
- Financial Planning: Employees can manage their money better by knowing their deductions.
- Benefits: Contributions decide the benefits employees get, like pensions and loans.
Difference Between Employee’s and Employer’s Contribution Tables
The SSS Contribution Table has two parts: one for employees and one for employers. The employee table shows the minimum and maximum monthly salaries, the required contributions for each salary bracket, and the total contributions. The employer table shows the employer’s share of the contributions.
Employee’s SSS Contributions
Employee contributions to the SSS are based on their monthly salary credit, which is the highest amount of earnings used to compute their monthly contributions. The minimum monthly salary credit is PHP 1,000, while the maximum is PHP 16,000. Employees with a monthly salary credit of PHP 1,000 or less are required to contribute PHP 135.
Employer’s SSS Contributions
Employers must match the employee’s contribution and add an extra amount for the Employees’ Compensation (EC) program. This ensures that employees are covered for work-related injuries or illnesses.
How to Calculate SSS Contributions
To calculate SSS contributions, you need to know the employee’s monthly salary credit and apply the rate from the contribution table. For example, if an employee earns PHP 10,000 per month, their contribution would be based on the rate for that salary bracket.
Special Cases and Exceptions
Some employees, like household workers and overseas Filipino workers (OFWs), have different contribution rates and requirements. It’s important to check the specific tables for these categories to ensure accurate contributions.
Updates to the SSS Contribution Table
The SSS updates the contribution table to reflect changes in the economy. For example, according to SSS Circular No. 2022-033, there will be a new schedule of Social Security contributions effective January 2024. The contribution rate for SS will increase to 14%, the minimum Monthly Salary Credit (MSC) to P4,000, and the maximum MSC to P30,000.
Benefits of Understanding the SSS Contribution Table
Understanding the SSS Contribution Table offers several benefits:
- Accurate Deductions: Ensures that employees’ contributions are correctly deducted.
- Compliance: Helps employers avoid legal issues and penalties.
- Financial Security: Provides employees with a clear understanding of their future benefits.
Common Misconceptions About SSS Contributions
There are several misconceptions about SSS contributions, such as the belief that higher contributions do not translate to better benefits. In reality, higher contributions can lead to higher pensions and more substantial benefits.
How to Access the SSS Contribution Table
The SSS Contribution Table is available on the official SSS website. Employers and employees can download the latest version to ensure they are using the correct rates.
Citations:
[1] https://sprout.ph/blog/how-to-calculate-your-sss-monthly-contribution/
[2] https://taxcalculatorphilippines.com/sss-contribution-table-employees-employers
[3] https://ssscontributioncalculator.com
[4] https://mpm.ph/sss-contribution-table-january-2021/
[5] https://digido.ph/articles/sss-monthly-contribution-table-guide-in-the-philippines
[6] https://savemytaxes.org/ph-sss-contribution-table-check/
[7] https://actuarial.zalamea.ph/a-guide-to-calculating-sss-contributions/
[8] https://www.markdownguide.org/extended-syntax/
[9] https://www.tripleiconsulting.com/sss-contribution-table-for-2024/
[10] https://web.z.com/ph/blog/sss-monthly-contribution-2024/
[11] https://taxcalculatorphilippines.com/sss-contribution-calculator
[12] https://stackoverflow.com/questions/15955160/markdown-table-with-long-lines
[13] https://omnihr.co/sss-contribution/
[14] https://www.sss.gov.ph/sss/appmanager/pages.jsp?page=PR2024_001
[15] https://sprout.zendesk.com/hc/en-us/articles/360030537174-How-to-Calculate-Your-SSS-Contribution
[16] https://www.eezi.com/how-to-compute-our-sss-monthly-contribution/
[17] https://mpm.ph/2023-sss-table/
[18] https://ssscontributioncalculator.com/sss-contribution-table-for-ofws/
[19] https://www.sss.gov.ph/sss/appmanager/pages.jsp?page=scheduleofcontribution
[20] https://www.sss.gov.ph/sss/DownloadContent?fileName=Legal_Obligations_Brochure_June_3_2019.pdf
FAQs
What is the minimum contribution for SSS? The minimum contribution for SSS is based on the minimum monthly salary credit, which is PHP 1,000. Employees with this salary credit are required to contribute PHP 135.
How often is the SSS Contribution Table updated? The SSS Contribution Table is updated annually to reflect changes in wages, inflation, and economic conditions.
Can employers contribute more than the required amount? Employers are required to contribute the amount specified in the contribution table. However, they can choose to provide additional benefits to their employees.
What happens if an employer fails to remit SSS contributions? Employers who fail to remit SSS contributions may face legal penalties, including fines and imprisonment.
Are self-employed individuals required to contribute to SSS? Yes, self-employed individuals are required to contribute to SSS based on their declared monthly income.
How can employees check their SSS contributions? Employees can check their SSS contributions by logging into their My.SSS account on the official SSS website.
Conclusion
Understanding the SSS Contribution Table is essential for both employees and employers. It ensures compliance, accurate deductions, and financial security. By staying informed about the latest updates and requirements, you can make the most of your social security benefits. Whether you’re an employee planning your finances or an employer ensuring compliance, this guide provides the comprehensive information you need.