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SSS Issues New Payment Deadlines for Contributions, Loans
The Social Security System has issued new payment deadlines for contributions and member loans.
With the new deadlines, making payments thru banks would be easier as there would be less people rushing to beat the deadlines in such payment centers, said Primitivo Verania of the SSS Dagupan branch.
Under the old policy, the deadline for regular employers (ERs) was at the 10th day of the month following the applicable month. Now, there will be five deadlines depending on the 10th digit of the 13-digit ER number as embodied in Circular No. 2011-003 series of 2011.
If the 10th digit ends in 1 or 2, the payment deadline is the 10th day of the month. For those ending in 3 or 4, it is the 15th day; 5 or 6, 20th day; 7 or 8, 25th day; and 9 or 0, last day of the month.
For example, if the ER ID number is 03-1234567-8-012, the 10th digit is 8 so that the deadline for both contributions and member loans for the applicable month of April is May 25.
For household employers (HRs), self-employed (SE) and voluntary members (VM) except overseas Filipino workers-members, the old deadline was the 20th day of the month following the applicable month or quarter (for SE/VM), and 10th day for loans.
Now it also depends on the 10th or last digit of the SS number. For digit ending in 1 or 2, the deadline is the 10th day following the applicable month or quarter; 3 or 4, 15th day; 5 or 6, 20th day; 7 or 8, 25th day; and 9 or 0, last day of the month.
For instance, if the SS number is 01-2345678-9, the payment deadline for both contributions and member loans for the applicable month of April is May 30.
In cases that the payment deadline falls on a Saturday, Sunday or holiday, payment may be made on the next working day. Otherwise, penalties are to be imposed on late contribution and member loan payments of employers and late member loan payments of self-employed and voluntary members. Late payments of self-employed and voluntary members will be applied prospectively.
The frequency of payment remains on a monthly basis for regular and household ERs, and on a monthly or quarterly basis for self-employed and voluntary members. Payments on a quarterly basis mean payments for all three months ending in a calendar quarter, that is, March, June, September and December.
The revised schedule takes effect starting on the applicable month of June.
The existing payment schedule for OFW-members remains. For contributions, it is any time during the applicable year for the January to December contributions, or until January 31 of the following year for the October to December contributions.
For loan repayments, the deadline is on or before the 10th calendar day of the month following the applicable month.
Source: Philippine Information Agency