How Much Is The Deduction Of Sss

When youre an SSS member who regularly pay SSS contribution youll be able to avail of its many benefits.

How much is the deduction of sss. Base Pay 7500 Additional Regular Worked 70513 Daily OT 88141 Perfect Attendance 5000. Salary loan At least six posted monthly contributions for the last 12 months. Thus your takehome pay is Php 27117 only.

Regular Monthly SSS Contributions. A two-month salary loan is equivalent to twice the average of the members latest 12 monthly salary credits posted rounded to the next higher monthly salary credit but not to exceed P24000. A service fee of 1 of the loan amount shall be charged and deducted from the proceeds of the loan.

How Much Of Your Income Is Required For SSS Contribution. But take note that of the 11 monthly contribution only 363 is deducted from your monthly salary. The amount deducted every month for the SSS contribution is 363 of an employees monthly salary credit.

Most of the employers uses basic compensation as their basis. This tops out at a total contribution of P250. If deduction is twice a month the employer can choose which formula to use for the deduction for the 15th payroll as long as the total deduction for the month matches the SSS chart.

That concludes the How PayrollHero computes the SSS deduction article. The SSS contribution deducted from your pay every month is around 363 of your monthly salary credit. Your outstanding balance will be deducted from your new loan amount.

You will get a total of Php 2883 worth of deductions in your salary. Generally speaking your SSS contribution is 11 of your monthly salary credit. With regards to the deduction from the loan proceeds a 1 service fee is charged from the SSS Member Salary Loan.