Sss loan bracket

Moreover, we can refer to the table’s monthly salary credit (MSC) based on our salary bracket , to determine the loans and benefits that we can avail from SSS. The loan shall be payable within two (2) years in monthly installments. A cash loan granted to an employe currently- paying self-employed or voluntary member.

SICKNESS A daily cash allowance paid for the number of days a member is unable to work due to sickness or injury. How to apply for SSS Salary loan? Sickness Benefit Qualifying Conditions 1. See full list on pinoy-ofw. The monthly contributions are based on the compensation of members.

Self-employed and voluntary members pay the of the monthly salary credit (MSC) based on the monthly earnings declared at the time of registration. For OFWs, the minimum monthly salary credit is pegged at P000. For the non-working spouse, SSS contribution will.

It is important that you are aware of the payment deadlines for contributions and member loans in order to avoid incurring penalties. Late payments will result to penalties and delays in the processing of your benefits and loans. A quarter covers three (3) consecutive calendar months ending on the last day of March, June, September and December. Any payment for one, two or all months for a calendar quarter may be made. SSS confirmed that in reaction to my piece, SSS.

Employer must also file a report. Checking SSS contributions and SSS loans made easy for all SSS members by visiting the SSS website on the web. All SSS members can now avoid the hassle of long waiting and the burden of going to any SSS Branch just to file SSS loans , SSS inquiry and other transactions. You only need to login to your SSS Online Account and you no longer need to submit any document in SSS Branch. The SSS salary loan is payable within two yearsin monthly installments.

A complete breakdown of your payables can be found in the Disclosure Statement. The loan amortization starts in the second month after the date of the loan approval. The payment due date or deadline will be on the last day of the month following the applicable month. If the payment deadline is a Saturday, Sunday or holiday, you can pay on the next working day. You can pay your amortizations at any SSS office, SSS-accredited bank, authorized payment center, or online payment service like GCash.

Member-borrowers must use their payment reference numbers (PRN) when paying. SSS charges an interest of per annum (year) based on the diminishing principal balance, until your loan is fully paid. In addition, there is a service fee which will be deducted from the loan amount. If you fail to pay on or before the payment deadline, you will be charged a penalty per month until you settle your dues.

Any excess payments will be applied to the outstanding principal balance, which means that you can pay your loan in advance. As a member-borrower, it is your obligation to pay your dues on time. But if you become delinquent and failed to pay your SSS Loan , you may wait for SSS LOan Condonation so that you may pay your SSS Loan without Penalty. If you are not able to pay for your SSS Loan , For self-employed and voluntary members, the unpaid loan will be deducted from his or her short-term benefits such as sickness, maternity or disability benefits. If the member-borrower dies, becomes disable or retires, the unpaid loan including interests and penalties will be deducted from the corresponding benefit (death, disability or retirement).

According to SSS , they have finalized their system for the said loan program where a member can loan up to PhP 2000. The application for the loan will be online via MY. E-Services menu function. Go to our article on the improved SSS salary loan program. It’s important that we remember this so we don’t take our SSS loan lightly, and so that we don’t borrow just to buy things we don’t really need.

Get a Quote in Minutes. SSS Account, an employe currently-paying self-employed and voluntary members can have a direct access to SSS services and perform fast online transactions. I’m working at home but I’m still regularly paying my SSS premiums, thanks to my sister who duly remits my contributions (it helps that she’s working at the SSS ). The current SSS contribution rate is of the monthly salary credit not exceeding P10and this is being shared by the employer () and the employee (). If you’re looking to purchase a property and considering taking a loan , you can read this article to compare the differences between a Commercial Bank, SSS , and Pag-IBIG housing loans. The table also shows us our monthly salary credit which is also important when getting loans and benefits.

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