News Update Philippines SSS generates P213-million
BAGUIO CITY - The local office here of the Social Security System (SSS) was able to collect at least P213 million from delinquent employers in the Baguio and Benguet area in a bid to condone those who have failed to remit the contributions of their employees over the past several years.
Out of the more than 12,000 employers in the Baguio and Benguet area, over 2,000 employers have been remitting SSS contributions of their employees over the past several years which affected the agency's collection efficiency.
Because of the successful implementation of the amnesty program for delinquent employers, the SSS decided to extend the deadline of the said program for a few days from July 31, which falls on a Saturday, to Monday, August 2, to allow more delinquent employers to avail of the amnesty and prevent them from being administratively and criminally charged.
Under the on-going amnesty, penalties and surcharges on unpaid contributions of employees over the past six months has been waived by the agency to convince the delinquent employers in remitting the contributions of their employees for the sake of the grant of continuous benefits to them.
However, SSS officials appealed to employers not to wait for the deadline to avoid the last minute rush which might complicate their situation once they cannot beat the prescribed deadline.
The State-run insurance corporation for employees in the private sector announced it will step up the filing of cases against employers who remain delinquent after the lapse of the amnesty period for them to be imposed stiffer penalties.
Under the social security law, non-remittance of contributions by employers is punishable by imprisonment of six to twelve years and a fine of over P100,000 depending on the gravity of the offense upon the discretion of the courts.
At the same time, SSS was able to collect P101 million from cashed checks from 909 employers who opted for the installment payment scheme of their obligations which was projected up to 48 months to allow their respective employees to avail of the benefits being given by the agency in the form of loans, among others.
According to SSS officials, employers must be up to date in paying the contributions of their employees to be eligible for the agency's new amnesty on the payment of loan amortizations of employees.
Privatization Act of 1995 : report together with minority and additional views (to accompany H.R. 1720) (including cost estimate of the Congressional Budget Office) (SuDoc Y 1.1/8:104-153)
Employers are now allowed to remit their employees unpaid principal and interest due.
Subsequently, employers must settle first their overdue contributions and verify the total loan delinquency of their employees at the SSS branch nearest them before availing of the on-going amnesty.
SSS charges monthly penalties of three percent for overdue contributions and one percent for delinquent loans.
The loan amnesty covers short-term SSS member loans such as salary, calamity emergency, stock investments and privatization fund loans.
