Legal Counsel

SSS Condonation Law RA 9903 Signed

SSS Condonation Law RA 9903 Signed

SHARE
, / 55599 186
SSS Condonation Law RA 9903 Signed

President Gloria Macapagal Arroyo signed into law R.A. 9903 or the Social Security Condination Law. This action is aimed at assisting those engaged in small and medium business enterprises by condoning the penalties. The focus will then be on the payment of balance of the employer’s contribution to the employee’s SSS.

In addition, the grant of amnesty for the penalties would redound to the benefit of the hundreds of thousands of workers whose employers have not been paying their contributions to SSS, using the same for other corporate financial requirements.

Under the SSS Condonation Law delinquent employers may remit their contributions or submit proposal to do the same on installment basis. Under the premium payment schedule, the employer is required to remit a total of 5% of contribution delinquency where the balance shall be paid in equal monthly installments within 48 months from the time the SSS approves the submitted proposal. The installment payment however shall bear a 3% annual interest.

The condonation of penalties shall likewise apply to those who were able to settle their arrears prior to the implementation of the SSS Condonation Law.

Finally, the said law provides that pending case against erring employers will be withdrawn, but this is without prejudice to the refilling of the same in case the employer fails to remit in whole.

Photo Credit: Rey Baniquet/OPS-NIB Photo

186 Comments

  • May says:

    Good day! What if my employer erroneously remit my SSS loan payments to my 2011 loan instead of 2012 loan. I just found out that I have P13k+ overpayments to my 2011 loan and have balance of P16k+ to my 2012 loan. My 2012 loan has a penalty already of P3k+. Can I demand my company to shoulder the penalty since its their negligence that my loan payments were not recorded properly. I cannot avail my salary loan now because base on SSS records, I have P16k++ balance with my 2012 loan and overpayment of P13k+ with my 2011 loan.

Leave A Reply

Your email address will not be published.

PASSWORD RESET

LOG IN