Published — June 21, 2021
The following post does not create a lawyer-client relationship between Alburo Alburo and Associates Law Offices (or any of its lawyers) and the reader. It is still best for you to engage the services of your own lawyer to address your legal concerns, if any.
Also, the matters contained in the following were written in accordance with the law, rules, and jurisprudence prevailing at the time of writing and posting, and do not include any future developments on the subject matter under discussion.
After reading ” REMITTANCE OF CONTRIBUTIONS FOR SOCIAL SECURITY SYTEM ” you may also read, “ DEATH AND FUNERAL BENEFITS UNDER THE SOCIAL SECURITY ACT OF 2018 “
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Generally, the contributions imposed under the Social Security Act of 2018 shall be remitted to the Social Security System (SSS) within the first ten (10) days of each calendar month following the month for which they are applicable
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Self-employed members shall remit their monthly contributions quarterly
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An employer may be liable for failure to timely remit the contributions
W hen should the contributions for the Social Security System be remitted?
The law says:
The employee’s and the employer’s contribution shall be remitted to the SSS within the first ten (10) days of each calendar month following the month for which they are applicable or within such time as the Social Security Commission (Commission) may prescribe.
For self-employed members, they shall remit their monthly contribution quarterly on such dates and schedules as the Commission may specify through rules and regulations. The deadline for the payment of the contributions of the Self-employed members shall be as follows:
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contributions for the months of January to September of a given calendar year may be paid up to December 31 of the same year; and
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contributions for the months of October to December of a given calendar year may be paid up to January 31 of the succeeding year.
What if there is a failure on the part of the employer to remit the SSS contributions?
The law says:
Every employer required to deduct and to remit such contribution shall be liable for their payment and if any contribution is not paid to the SSS, the delinquent employer shall pay besides the contribution a penalty of two percent (2%) per month from the date the contribution falls due until paid.
If the employer refuses or neglects to pay the contribution, the same shall be collected by the SSS in the same manner as taxes are made collectible under the National Internal Revenue Code, as amended. Take note that failure or refusal of the employer to pay or remit the required contributions shall not affect the right of the covered employee to the benefits under the SSS.
Alburo Alburo and Associates Law Offices specializes in business law and labor law consulting. For inquiries, you may reach us at info@alburolaw.com, or dial us at (02)7745-4391/0917-5772207.
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