Effective January 2021, SSS released a new Contribution Table showing the minor changes in the amounts paid by both employees and employers to the social insurance program.
In pursuant to Republic Act No. 11199 or the Social Security Act of 2018, SSS contribution was increased to 13%, a 1% increase from the previous rate.
Minimum Monthly Salary Credit (MSC) is also increased from P2,000 to P3,000 except for Household Employers/Kasambahay Members and OFW Members whose MSC shall remain the same.
Likewise, the maximum MSC is also raised to P25,000 from P20,000 for all members.
Contribution table for Regular Employers and Employees:
Contribution table for Self-Employed Members:
Contribution table for Voluntary Members and Non-Working Spouse:
Contribution table for Household Employers and Kasambahay:
Contribution table for Overseas Filipino Workers:
Given these changes in the rates of contribution, it is also essential to know the deadline of these payments in order to avoid penalties and delays in the benefits of the employees. See the table below for the complete details:
Paying on time and the accurate amount will not only benefit the company but also the employee in the long run given that their Social Security System contribution will serve as their pension when they pass the retirement age and stop working altogether.
So, pay attention to this 2021 SSS Contribution Table and know both your responsibility and privileges as a member of SSS.
