The Philippine Social Security System (SSS) is a social insurance program for workers in the Philippines. It is a government agency that provides retirement benefits to all members in the Philippines. Members of the SSS can also apply for ‘salary’ or ‘calamity’ loans. Salary loans depend on the salary bracket of the employee. Calamity loans are for such times when there is a calamity that has been declared by the government, in the area where the SSS member lives, such as flooding, earthquake and other acts of God. Employees of the Philippine National Government do not contribute to SSS but rather have their own system, the Government Service Insurance System or GSIS.
Every company, even PEZA-Registered or BOI-Registered Enterprises, are required to remit and report employees contribution to SSS every month. Wherein a fraction of the amount is coming from the employee’s salary and the rest is from the employer as part of the worker’s statutory benefits. But first you need to register your business. So here’s the process:
- Collate relevant documents:
- Single Proprietorships – Department of Trade and Industry (DTI) Registration
- Partnerships – Securities and Exchange Commission (SEC) Registration, Articles of Partnership and By-laws
- Corporations – Securities and Exchange Commission (SEC) Registration, Articles of Incorporation and By-laws
- Fill-out SSS Forms in two (2) copies:
- Employer Registration (Form R-1)
- Employment Report (Form R1-A)
- Specimen Signature Card (Form L-501)Authorized Signatories:
- Single Proprietorship – Owner or, in his absence, the legal spouse or, in their absence, any representative with Special Power or Attorney (SPA)
- Partnership – Managing Partner
- Corporation – President, Chairman or Corporate Secretary
- Manning Agency with Foreign Principal – President, Chairman or Corporate Secretary
- Branch Office – Highest ranked official of the branch with Certificate of Operation from the main office signed by the President, Chairman or Corporate Secretary
- Submit the Forms along with the supporting documents to the SSS Office (Corporate).
- Pay the PHP 165.00 fee for Employer Registration Plate at the SSS or at any SSS-accredited bank and submit validated Miscellaneous Payment Return (SSS Form R-6) and Special Bank Receipt.
- Get the received copy.
- File the received copy for future reference.