MANILA, Philippines – The Social Security System (SSS) issued reminders to its members about the payment contribution deadline extended on December 29.
As stated in the announcement made by SSS, businesses have the option to settle the contributions of their employees for September and October 2023 by December 29.
However, payments for employee contributions from November 2023 onwards must adhere to the standard deadline, which is the last day of the subsequent month.
According to a circular on the SSS website, the private sector pension fund has mandated that all business and household employers, as well as coverage and collection partners (CCPs), must submit their contributions by December 29 at the latest.
Moreover, it is anticipated that Coverage and Collection Partners (CCPs) will submit their SSS contribution collections for the third quarter by the last working day of 2023.
In addition to member contributions, the SSS has stressed to employers the significance of meeting the deadline for submitting illness notifications. This pertains to employees who were homebound between October 20 and December 19, 2023. The deadline is set for December 29 of the same year.
Circular No. 2023-010 was authorized by Rolando Ledesma Macasaet, the President and Chief Executive Officer of the SSS.
Simultaneously, the pension fund has affirmed its commitment to conducting the Run After Contribution Evaders (RACE) program. Launched in April 2023, RACE involves pension fund officials actively pursuing companies that have not remitted their employees’ contributions. The program issues violation notices to safeguard the rights of business employees against contribution evaders.
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