Have you heard about this, guys, especially those who are giving voluntary contributions to SSS and Philhealth? There is an increase of what we need to pay for our contributions.
We all now have to pay 11% (from 10.4%) of our income and this ruling is effective January 2014. For those who are employed, the employee pays for the 3.63% and the employer shoulders the 7.37%.
SSS Contributions table 2014
The maximum salary credit will also increase to P16,000/month.
For our kasambahays, mommies, those with a salary of Php 2500 will have to contribute Php 275. The whole amount of Php 275 will be shouldered by us, their employers. Those with kasambahays who are paid higher than Php 5000 will have to pay accordingly based on the table above and follow the employee/employer share. 🙂
So what does this mean for our benefits? Well, SSS says that the sickness, maternity and other benefits will also increase as the average daily salary credit will also go up. SSS also mentioned that pension and salary loans may also go up with the increase in contribution but it will still have to go through board approval.
For more information, check this link: http://www.abs-cbnnews.com/business/10/09/13/what-higher-sss-contribution-rate-means-members
Aside from SSS, Philhealth also increased their rates. Here is a table from http://anc.yahoo.com/news/pinoys-to-face-higher-philhealth-contributions-this-month-084125793.html
So there you go, readers! Do adjust your budget for these already 🙂