Entrepreneurs no longer have to deal with long queues to remit their contributions and that of their employees when the Social Security System (SSS) implements their new remittance schedule starting this month.
SSS President and Chief Executive Officer Emilio de Quiros, Jr. said the new deadlines will be spread out from the 10th day for employees and the 20th day for self-employed and voluntary members to five different deadlines based on the employer and social security number.
"The new deadlines would take effect starting with payments for the applicable month or quarter ending on June 30," he said.
The revised deadlines are based on the 10th digit of the 13-digit employer number and the last digit of the 10-digit social security number of household employers, self-employed workers and voluntary members.
If the 10th digit of the employer number (for regular employers) or SS number (for household employers, the self-employed and voluntary members) is "1" or "2," contributions and loan payments fall on or before the 10th day after the applicable month or quarter.
The deadline would be the 15th day of the following month for numbers "3" and "4;" the 20th day for numbers "5" and "6;" the 25th day for numbers "7" and "8;" and the last day of the succeeding month for numbers "9" and "0."
De Quiros said the new deadlines would apply to over-the-counter payments at SSS branch tellers, banks, Bayad Centers and SM Business Centers.
"Members and employers flock to SSS on the day of the deadline, which results in long lines and congestion. The new policy aims to address this situation," he said.