How can I calculate my SSS contribution?
How to Calculate Your SSS Contribution
- The current SSS contribution rate is 13% of the monthly salary credit not exceeding P25,000 and this is being shared by the employer (8.50%) and the employee (4.50%).
- For instance, a person earning Php10,000 will have a contribution of Php1,310.00.
- Out of this amount, only Php450.
How much is the SSS contribution per month?
The current SSS contribution rate is 11% of the monthly salary credit not exceeding P16,000 and this is being shared by the employer (7.37%) and the employee (3.63%). Self-employed and voluntary members pay 11% of the monthly salary credit (MSC) based on the monthly earnings declared at the time of registration.
How much is the new SSS contribution?
New SSS Contributions Table effective January 2021. 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.
How is Pag-IBIG contribution calculated?
To compute your Pag-IBIG monthly contribution, follow this formula: monthly compensation amount x employee or employer share. For example, if you’re earning ₱4,000 per month, your Pag-IBIG monthly contribution is ₱80 (4,000 x 0.02 = 80), with your employer also paying ₱80.
How is Pag-IBIG contribution 2021 calculated?
The maximum monthly salary used for Pag-IBIG contribution computation is Php 5,000. This means if your monthly salary is Php 5,000 or higher, your contribution is computed as follows: Employee’s share: Php 5,000 x 0.02 = Php 100. Employer’s share: Php 5,000 x 0.02 = Php 100.
How much is Pag-IBIG contribution?
This means kasambahays earning Php 5,000 and above have a total Pag-IBIG monthly savings of Php 200.
How is Pag Ibig contribution 2021 calculated?
What is the current contribution rate for SSS?
The current SSS contribution rate is 11% of the monthly salary credit, not exceeding Php 16,000. SSS contributions are shared by the employer (7.37%) and the employee (3.63%). Self-employed and voluntary members pay the full 11% of the monthly salary credit rate (MSC) based on the monthly earnings declared at the time of the registration.
What is the contribution rate for Social Security in the Philippines?
The current SSS contribution rate is 11% of the monthly salary credit not exceeding P16,000 and this is being shared by the employer (7.37%) and the employee (3.63%).Self-employed and voluntary members pay the 11% of the monthly salary credit (MSC) based on the monthly earnings declared at the time of registration.For OFWs,
How does the Pag ibig contribution table work?
Pag-IBIG contribution table in 2021 for employees and employers. Pag-IBIG contributions of employed members are shared by employees and their employers. The employee’s share of contribution is deducted from the monthly salary.
What does the contribution table on PhilHealth mean?
This contribution table would be the basis of all the premiums that a PhilHealth member would pay for this year. It covers the employed, self-employed, OFWs, sponsored and individually paying members of PhilHealth.
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