The updated SSS contribution table 2018 for employees and employers to have at least a rough idea on how much contributions are. In this way, they’ll be able to understand if they’re under, over, or just right in paying. Every year, the contribution table for the Social Security System (SSS) updates and this is depending on how the economy is. Moreover, it’s essential to know the values of contributions if you are an employer because it can be a lawful act if you make mistakes in terms of paying for contributions. Nevertheless, here is the SSS Contribution 2018 table.
As per updates from the SSS, members of the government body now requires all members including employers to have an online account. This is one of the ways on how SSS is improving their system; need to inquire about your membership? You can now do it online; want to know how much your premium contributions are? You can view it online. There are actually a lot of things you can do with your online account that can save you the hassle of going to SSS branches.
Table for SSS Contribution 2018
For self-employed, voluntary members, and Overseas Filipino Workers (OFWs)
If you’ll notice, it’s technically almost the same if you try and compare the regular employee from contributions of the self-employed, voluntary, and OFWs. The reason why it’s separate is because the second table doesn’t really have employers or if they do, they’re not registered businesses in the country.
Moreover, you’ll see that every year, the contribution table updates. Meaning, the economic state of our country fluctuates and it is the one that dictates how contributions should be made. This is an important part of employment and business because failure to do so might cause troubles that nobody wants.
What do you think about the updates on the Table of SSS Contribution 2018? Do you think it seems fit for every employee and employer?