The Social Security System (SSS) in the Philippines provides a safety net for self-employed individuals through its contribution system. Understanding your obligations to the SSS as a self-employed individual is very important which is why the SSS Contribution Table for Self-Employed Individuals was made. This table will help you, a self-employed individual, determine the correct contribution rates and understand your responsibilities.
SSS CONTRIBUTIONS TABLE YEAR 2024 FOR SELF-EMPLOYED INDIVIDUALS | |||||||
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RANGE OF COMPENSATION | MONTHLY SALARY CREDIT | AMOUNT OF CONTRIBUTIONS | |||||
REGULAR SOCIAL SECURITY / EMPLOYEE’S COMPENSATION | WORKER’S INVESTMENT AND SAVINGS PROGRAM | TOTAL | REGULAR SOCIAL SECURITY | EMPLOYEE’S COMPENSATION | WORKER’S INVESTMENT AND SAVINGS PROGRAM | TOTAL | |
BELOW 4,250 | 4,000.00 | – | 4,000.00 | 560 | 10 | – | 570 |
4,250 – 4,749.99 | 4,500.00 | – | 4,500.00 | 630 | 10 | – | 640 |
4,750 – 5,249.99 | 5,000.00 | – | 5,000.00 | 700 | 10 | – | 710 |
5,250 – 5,749.99 | 5,500.00 | – | 5,500.00 | 770 | 10 | – | 780 |
5,750 – 6,249.99 | 6,000.00 | – | 6,000.00 | 840 | 10 | – | 850 |
6,250 – 6,749.99 | 6,500.00 | – | 6,500.00 | 910 | 10 | – | 920 |
6,750 – 7,249.99 | 7,000.00 | – | 7,000.00 | 980 | 10 | – | 990 |
7,250 – 7,749.99 | 7,500.00 | – | 7,500.00 | 1,050.00 | 10 | – | 1,060.00 |
7,750 – 8,249.99 | 8,000.00 | – | 8,000.00 | 1,120.00 | 10 | – | 1,130.00 |
8,250 – 8,749.99 | 8,500.00 | – | 8,500.00 | 1,190.00 | 10 | – | 1,200.00 |
8,750 – 9,249.99 | 9,000.00 | – | 9,000.00 | 1,260.00 | 10 | – | 1,270.00 |
9,250 – 9,749.99 | 9,500.00 | – | 9,500.00 | 1,330.00 | 10 | – | 1,340.00 |
9,750 – 10,249.99 | 10,000.00 | – | 10,000.00 | 1,400.00 | 10 | – | 1,410.00 |
10,250 – 10,749.99 | 10,500.00 | – | 10,500.00 | 1,470.00 | 10 | – | 1,480.00 |
10,750 – 11,249.99 | 11,000.00 | – | 11,000.00 | 1,540.00 | 10 | – | 1,550.00 |
11,250 – 11,749.99 | 11,500.00 | – | 11,500.00 | 1,610.00 | 10 | – | 1,620.00 |
11,750 – 12,249.99 | 12,000.00 | – | 12,000.00 | 1,680.00 | 10 | – | 1,690.00 |
12,250 – 12,749.99 | 12,500.00 | – | 12,500.00 | 1,750.00 | 10 | – | 1,760.00 |
12,750 – 13,249.99 | 13,000.00 | – | 13,000.00 | 1,820.00 | 10 | – | 1,830.00 |
13,250 – 13,749.99 | 13,500.00 | – | 13,500.00 | 1,890.00 | 10 | – | 1,900.00 |
13,750 – 14,249.99 | 14,000.00 | – | 14,000.00 | 1,960.00 | 10 | – | 1,970.00 |
14,250 – 14,749.99 | 14,500.00 | – | 14,500.00 | 2,030.00 | 10 | – | 2,040.00 |
14,750 – 15,249.99 | 15,000.00 | – | 15,000.00 | 2,100.00 | 30 | – | 2,130.00 |
15,250 – 15,749.99 | 15,500.00 | – | 15,500.00 | 2,170.00 | 30 | – | 2,200.00 |
15,750 – 16,249.99 | 16,000.00 | – | 16,000.00 | 2,240.00 | 30 | – | 2,270.00 |
16,250 – 16,749.99 | 16,500.00 | – | 16,500.00 | 2,310.00 | 30 | – | 2,340.00 |
16,750 – 17,249.99 | 17,000.00 | – | 17,000.00 | 2,380.00 | 30 | – | 2,410.00 |
17,250 – 17,749.99 | 17,500.00 | – | 17,500.00 | 2,450.00 | 30 | – | 2,480.00 |
17,750 – 18,249.99 | 18,000.00 | – | 18,000.00 | 2,520.00 | 30 | – | 2,550.00 |
18,250 – 18,749.99 | 18,500.00 | – | 18,500.00 | 2,590.00 | 30 | – | 2,620.00 |
18,750 – 19,249.99 | 19,000.00 | – | 19,000.00 | 2,660.00 | 30 | – | 2,690.00 |
19,250 – 19,749.99 | 19,500.00 | – | 19,500.00 | 2,730.00 | 30 | – | 2,760.00 |
19,750 – 20,249.99 | 20,000.00 | – | 20,000.00 | 2,800.00 | 30 | – | 2,830.00 |
20,250 – 20,749.99 | 20,000.00 | 500 | 20,500.00 | 2,800.00 | 30 | 70 | 2,900.00 |
20,750 – 21,249.99 | 20,000.00 | 1,000.00 | 21,000.00 | 2,800.00 | 30 | 140 | 2,970.00 |
21,250 – 21,749.99 | 20,000.00 | 1,500.00 | 21,500.00 | 2,800.00 | 30 | 210 | 3,040.00 |
21,750 – 22,249.99 | 20,000.00 | 2,000.00 | 22,000.00 | 2,800.00 | 30 | 280 | 3,110.00 |
22,250 – 22,749.99 | 20,000.00 | 2,500.00 | 22,500.00 | 2,800.00 | 30 | 350 | 3,180.00 |
22,750 – 23,249.99 | 20,000.00 | 3,000.00 | 23,000.00 | 2,800.00 | 30 | 420 | 3,250.00 |
23,250 – 23,749.99 | 20,000.00 | 3,500.00 | 23,500.00 | 2,800.00 | 30 | 490 | 3,320.00 |
23,750 – 24,249.99 | 20,000.00 | 4,000.00 | 24,000.00 | 2,800.00 | 30 | 560 | 3,390.00 |
24,250 – 24,749.99 | 20,000.00 | 4,500.00 | 24,500.00 | 2,800.00 | 30 | 630 | 3,460.00 |
24,750 – 25,249.99 | 20,000.00 | 5,000.00 | 25,000.00 | 2,800.00 | 30 | 700 | 3,530.00 |
25,250 – 25,749.99 | 20,000.00 | 5,500.00 | 25,500.00 | 2,800.00 | 30 | 770 | 3,600.00 |
25,750 – 26,249.99 | 20,000.00 | 6,000.00 | 26,000.00 | 2,800.00 | 30 | 840 | 3,670.00 |
26,250 – 26,749.99 | 20,000.00 | 6,500.00 | 26,500.00 | 2,800.00 | 30 | 910 | 3,740.00 |
26,750 – 27,249.99 | 20,000.00 | 7,000.00 | 27,000.00 | 2,800.00 | 30 | 980 | 3,810.00 |
27,250 – 27,749.99 | 20,000.00 | 7,500.00 | 27,500.00 | 2,800.00 | 30 | 1,050.00 | 3,880.00 |
27,750 – 28,249.99 | 20,000.00 | 8,000.00 | 28,000.00 | 2,800.00 | 30 | 1,120.00 | 3,950.00 |
28,250 – 28,749.99 | 20,000.00 | 8,500.00 | 28,500.00 | 2,800.00 | 30 | 1,190.00 | 4,020.00 |
28,750 – 29,249.99 | 20,000.00 | 9,000.00 | 29,000.00 | 2,800.00 | 30 | 1,260.00 | 4,090.00 |
29,250 – 29,749.99 | 20,000.00 | 9,500.00 | 29,500.00 | 2,800.00 | 30 | 1,330.00 | 4,160.00 |
29,750 – Over | 20,000.00 | 10,000.00 | 30,000.00 | 2,800.00 | 30 | 1,400.00 | 4,230.00 |
SSS Coverage for Self-Employed Individuals
In order to be eligible for SSS coverage as a self-employed individual, you must have a business, be involved in a trade, or profession with an annual income of not less than ₱16,000.00
Below are the steps for registering for an SSS coverage as a self-employed individual:
- Prepare the necessary forms and documents that are needed for the application.
- Visit the nearest Social Security System (SSS) branch.
- Fill out an application form and state provide proof of your business, trade, or profession.
- Submit your application form and other documents.
- Pay the initial contribution fee.
- Once all of these have been processed, you will receive your SSS number which is used for future contributions and other transactions.
What are the Contribution Rates for Self-Employed Individuals?
Self-employed individuals contribute to the SSS based on their monthly earnings. The contribution rates are structured to provide comprehensive coverage for different income levels, ensuring that all members have access to essential benefits.
The SSS contribution table for self-employed individuals typically includes:
- Monthly Income Bracket – The contributions are based on the member’s declared monthly earnings.
- Contribution Rates – SSS Contribution rates vary depending on the income bracket, with higher contributions corresponding to higher declared incomes.
- Maximum Salary Credit – There is a maximum monthly salary credit, which helps determine the highest contribution amount of a member.
Benefits of Contributing to SSS as a Self-Employed Individual
Contributing to the SSS offers several benefits for self-employed individuals:
Social Security Benefits – The self-employed individuals who are members of the SSS are entitled to various benefits such as sickness, maternity, disability, retirement, and death benefits.. These benefits provide financial assistance during times of illness, disability, or the birth of a child, as well as ensure income security in retirement.
Loan Eligibility – Active SSS members who have made sufficient contributions can apply for loans such as salary loans, calamity loans, and housing loans. These loans provide self-employed individuals with additional financial support for emergencies or investments.
Flexible Contribution Levels – Self-employed individuals have the flexibility to choose their contribution level based on their income. They can adjust their contributions to meet their financial capacity while maximizing their entitlement to benefits.
Coverage for Dependents: Self-employed individuals can extend their SSS coverage to include their families which helps ensure that their families are also protected under the SSS system.
How to Determine SSS Contributions as a Self-Employed Individual
Determining SSS contributions as a self-employed individual in the Philippines involves the following steps:
Know Your Income – Determine your monthly income from your business, trade, or profession.
Consult the Contribution Table – Refer to the SSS Contribution Table for Self-Employed Individuals as this table already has the list of different income brackets and corresponding contribution rates.
Calculate Your Contribution – Based on your declared monthly income, find the corresponding contribution rate from the table and then multiply your income by the contribution rate to compute your monthly SSS contribution.
Consider the Maximum Salary Credit – Be aware of the maximum monthly salary credit set by the SSS so that you know for sure that your computed contribution does not exceed this limit.
Adjustments and Flexibility – Self-employed individuals have the flexibility to adjust their contributions based on their declared income to ensure that they can comply and maximize their benefits.
Online Tools and Assistance – Use online calculators or seek assistance from SSS branches if needed to accurately compute and verify your contributions.
By following these steps, self-employed individuals can determine their SSS contributions effectively, ensuring compliance with legal requirements and securing access to social security benefits.
FAQs
What is the SSS Contribution Table for Self-employed Individuals?
The SSS Contribution Table for self-employed individuals details the required monthly contributions of self-employed individuals in order to have access to the various benefits that are provided by the SSS.
Who are considered self-employed individuals under the SSS?
Any freelancers, entrepreneurs, professionals, and those who work independently and are not employed by a company or organization are considered as self-employed individuals under the SSS.
How is the SSS Contribution Table structured?
The SSS Contribution Table is structured based on the monthly earnings or income of self-employed members. It lists the corresponding contribution amounts depending on their declared income range.
What are the benefits of contributing to the SSS as a self-employed member?
SSS members have access to a range of benefits, including sickness, maternity, disability, retirement, and death benefits, along with loans and other privileges.
How often should self-employed individuals pay their contributions?
Self-employed individuals are required to pay their SSS contributions monthly.
Can self-employed individuals adjust their contribution amounts?
Yes, self-employed members can adjust their monthly contributions based on their declared income. They should refer to the SSS Contribution Table to determine the appropriate amount for their income bracket.
What happens if a self-employed individual fails to pay their SSS contributions on time?
Failure to pay SSS contributions on time may result in penalties or interest charges and could also affect the eligibility for certain benefits or loans provided by the SSS.
Where can self-employed individuals get more information about the SSS Contribution Table and payments?
Self-employed individuals can visit the official website of the SSS, contact their local SSS branch, or consult with accredited SSS agents or organizations to get detailed information about the contribution table, payments, and benefits.
Conclusion
Self-employed individuals need to understand the SSS Contribution Table for Self-employed individuals to ensure secure their Social Security System (SSS) benefits. By accurately determining contribution rates based on income brackets with the help of this table, self-employed individuals can help secure various benefits like sickness, maternity, disability, and retirement support, not just for theirselves, but also for their families.