This article details the SSS Contribution Table 2024, how to check contributions and payment methods. In 2024, the Philippines’ Social Security System (SSS) updated its contribution rates for employers and employees. These contributions are part of a shared responsibility where members allocate their income to the system in exchange for various financial benefits. Contributions are based on the monthly income of SSS members. Continue reading to learn more about the SSS Contribution Table 2024, how to pay, and how to verify your contributions.
SSS Contribution Table 2024
For 2024, the SSS has set the contribution rate at 14%. Employers are responsible for contributing 9.5%, while employees contribute 4.5%. The monthly salary used to calculate these contributions must range between P4,000 and P30,000.
The SSS Contribution Table is based on the member’s salary, outlining the required monthly payments. By contributing regularly, members can access various benefits such as retirement pensions, disability payments, and financial assistance, all funded through these contributions made by both employers and employees.
How to Check Your Contribution
You can verify your SSS contributions by referring to the monthly salary brackets and corresponding contribution amounts. To check your SSS contributions, follow these steps:
- Visit the official SSS website: Go to the Social Security System portal and log in to your account.
- Navigate to the contribution section: After logging in, click on the “Contribution” button on the upper right of the homepage. This will redirect you to a new page.
- Fill out the necessary details: Input the required information, and then click on the contribution inquiry page to view your monthly contributions. This page will show your SE/VM contributions for self-employed or voluntary members, WISP Plus, Flexi Fund, and more.
Alternatively, you can check your contributions by sending a text message to 2600 with your valid SSS number and PIN, or by logging into the www.sss.gov.ph portal with your User ID and password.
How to Pay SSS Contributions
To pay your SSS contributions, you must first confirm that you are included in the SSS Contribution Table. Once confirmed, follow these steps to make your payment:
- Log in to your SSS account: Access your Social Security System account.
- Generate a PRN (Payment Reference Number).
- Pay using GCash or any mobile banking app: Log in to GCash or another mobile banking app, go to “Pay Bills,” and select Government >> SSS Contribution.
- Complete the payment form: Fill out the form with the necessary details, then click “Next” to finalize your payment.
You can also pay your contributions at SSS teller locations or partner banks, such as Asia United Bank, Philippine Business Bank, Bank One Savings Bank, Bank of Commerce, and First Isabela Cooperative Bank.
Key Information to Remember
The SSS Contribution Table is updated annually, requiring employees and employers to make regular monthly payments. These contributions are calculated based on a range of factors, including salary credits and membership type, and cover benefits such as salary loans, disability benefits, retirement pensions, sickness benefits, and unemployment separation benefits.
Members can verify their contribution details using the SSS Contribution Table, which is structured according to their income. The table provides an overview of the compensation, monthly salary credits, total contributions, and available benefits through the Social Security System.
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