The country’s Social Security System (or SSS) protects the welfare of employees and workers, ensuring we get benefits like some of the following:

• Sickness - A daily cash allowance paid for a number of days if you’re unable to work due to illness or injury.

• Maternity - For pregnant women, they will be given an allowance for the days needed for rest post-child-birth.

• Disability - A cash benefit granted- usually in monthly pension or a lumpsum amount- to those who become permanently disabled, partially or totally.

• Retirement - A monthly compensation post-retirement.

• Death - Given to the beneficiaries of the deceased member to help pay for the expenses that come with a death in the family.

• Funeral - This grants P20,000 to whoever paid for the funeral.

• Salary Loan - Cash load granted to anyone who is employed or self-employed to help make ends meet in times of need.

Knowing all these benefits, it’s best to get the most out of it. But you will have to be an active member first before you can start claiming any allowances or compensation.

Forms downloadable at sss.gov.ph

Here’s How to Register for New Businesses

Simply submit the requirements below depending on what kind of business you are: Single Proprietorship, Partnership, Corporation, Self-employed

For Single Proprietorships

• SSS Form R-1 (Employer Registration)

• R-1A (Employment Report)

For Partnerships

• SSS Form R-1 (Employer Registration)

• R-1A (Employment Report)

• Photocopy of the Articles of Partnership - original copy must be presented for authentication

For Corporations

• SSS Form R-1 (Employer Registration) - signed by the president of the corp

• R-1A (Employment Report) - signed by the president of the corp

• Photocopy of Articles of Incorporation - original copy must be presented for authentication

For Self-Employed Members

• SSS Form RS-1 (Self-Employed Data Record)

• Photocopy of any of the following; baptismal, birth certificate, driver’s license, passport, Professional Regulation Commission (PRC) Card, Seaman’s Book

• If you have employees, you will need to register as an employer and secure an Employer ID which will be used in all transactions concerning your employees (for requirements you can look at the other 3 options above

What Happens if You Don’t Sign up for SSS?

It’s technically against the law to do so if you’re earning money and paying taxes. For businesses, you are required to pay for your employees’ SSS contributions to ensure that they get full access to benefits. Failing to do so will result in getting fined and possibly imprisoned. For self-employed individuals, you are also required to register with SSS. However, you aren’t required to pay if you have not earned enough for the month.

How Much Should I Contribute and When Should I Pay?

SSS contribution amount depends on your compensation while payment due dates depends on the last digit of your SSS number. For the complete detail of SSS contribution table and payment schedule, check out this link.

In summary, SSS is like government-mandated insurance. Make sure you pay monthly in order to get the loaning benefits needed throughout your life and even through death!