How can I calculate my SSS contribution?

How can I calculate my SSS contribution?

The current SSS contribution rate is 11% of the monthly salary credit not exceeding ₱16,000 and this is shared by the employer (7.37%) and the employee (3.63%). For instance: If your monthly salary is ₱30,000, your contribution will only be based on ₱16,000 (which is the highest monthly salary credit).

What is SSS lump sum?

Lump sum amount – granted to a retiree who has not paid the required 120 monthly contributions. It is equal to the total contributions paid by the member and by the employer including interest.

What is R3 and R5 SSS?

1. SSS Form R5 – Employer Contributions Payment Return: This form is submitted monthly together with the SSS form R3 (see form #2 below). Form of Payment (If cash or check) Total Amount of Payment.

How will I know my SSS number?

Simply login to your SSS account on the website or mobile app and you will immediately see your SSS number. On the My. SSS website, your SSS number is located at the upper-left portion of the page, just below your name. On the SSS mobile app, the SSS number can be found on the upper-right corner of the screen.

How much is the maximum pension in SSS?

The higher the MSC and the longer you pay your contributions, the higher your SSS monthly pension will be. Retirees in the Philippines can receive as much as PHP 18,495 and as low as PHP 2,000 as a monthly pension.

How much is the SSS contribution per month?

If you are employed, the current SSS contribution rate is 12% of your monthly salary credit (MSC) not lower than P2,000 and not exceeding P20,000, and this is being shared by you (employee) and your employer at 4% and 8%, respectively.

What is lump sum example?

Definition: A lump sum amount is defined as a single complete sum of money. A lump sum investment is of the entire amount at one go. For example, if an investor is willing to invest the entire amount available with him in a mutual fund, it will refer to as lump sum mutual fund investment.

Can I still pay SSS contribution late?

11199 (Social Security Law of 2018), if an employer fails to pay contributions to the SSS as prescribed, it will incur a penalty of 2 percent per month from the date the contribution falls due until paid. The SSS encourages employers and members to use online and alternative payment channels for their contributions.

How do I pay SSS contribution manually?

How to Pay SSS Contribution in 3 Steps.

  1. Get a Payment Reference Number (PRN). The PRN is a unique number generated and used by each SSS member when paying a contribution.
  2. Present or provide your PRN when paying a contribution. Photo Credit:
  3. Wait for your payment confirmation.

Does SSS number expire?

Please note that the temporary SSS number never expires. Although you can have it changed to permanent any time, it’s best to submit the requirements immediately to enjoy the benefits of having a permanent SSS number.

How can I verify my SSS?

How to Check Your SSS Contributions Online

  1. Step 1: Visit the SSS website. Access the SSS website at
  2. Step 2: Log in to your My. SSS account.
  3. Step 3: Go to the SSS Contribution Inquiry page. Hover your mouse to the Inquiry menu (beside Home and Member Info) and click ‘Contributions’.