Thursday, January 15, 2015

How To Determine Your SSS Contribution

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sss contribution

For Employed Member

Suppose a member has a monthly income of P 10,000.

Step 1 
Look for the "Range of Compensation" column and find the corresponding range of compensation of the member's monthly salary belongs to. 
how to computes sss employed member

Step 2
Head over to the "Total Contribution" and look for "EE" (Employee Contribution) to get your contribution. The corresponding employee's contribution is P 363.30. This is the amount that should be deducted and reflected in your payroll.
how to computes sss employed member

The employer, however, has a total contribution of P 746.70. This is from the monthly contribution of P 736.70 plus P 10.00 for the employee compensation program.

Further, the member's total contribution for the month will be P 1,110.00. This is the amount that should be reflected as the member's SSS contribution. 

For Self-Employed, Voluntary Member, and OFW

Suppose a member has a monthly income of P 10,000.

Step 1 
Look for the "Range of Compensation" column and find the corresponding range of compensation of the member's monthly salary belongs to. 
how to computes sss employed member

Step 2
Head over to SW/VM/OFW Total Contribution column. The corresponding employee's contribution is P 1,100.00. This is the amount the member will settle as his contribution.

Unlike an employed member, the member under this category will shoulder both the employee and employer's contributions.

Members with no monthly income may choose the amount he wish to pay as his monthly contribution.

Check out our online calculator here.

FAQ

Q. Is e-cola considered in determining SSS contribution?
A. According to SSS, the monthly salary/basic pay is the only basis for determining SSS contribution. 

Q. How about Night Differential, Overtime, and Holiday pays?
A. No. Only basic pay is used. However, some employers practice to use the gross salary (ND, OT and HOLIDAY pay included) in determining the SSS, PhilHealth and Pag-IBIG distribution as this will decrease the amount of employee's withholding tax and at the same time increase the amount of your contribution.

Do you have additional information about this post? Share it on the comment box. :)

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1 comment :

  1. do you already have the updated "SSS Contribution Calculator"?

    ReplyDelete

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