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 The Balmori Software Newsletter
 The SME resource for practical computerization concerns.     No. 2012

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Imposing new mandatory deductions
SSS adds new class of salary deduction in January 2021
An upgrade to SURE! PayMaster will be available in a week



We the taxpaying middle class - and payroll software makers, and users - once again get a reminder of the changeability of payroll parameters. Less than a year after the most recent change in payroll computation rules, another one dropped on us all, just last December 7th.

The Social Security System has promulgated a revised contribution table (see below), to take effect on day 1 of 2021. Click here to see SSS Circular No. 2020-033.

If this was merely a case of increased Employer/Employee Contributions or newly established salary ranges, effecting the new contributions would have simply been a download of a new SSS Contribution table, without any need to modify computerized payroll software algorithms.

Unfortunately, this won't be the case with Circular No. 2020-033.

Circular No. 2020-033 introduces a totally new class of contributions for both the employee and employer: the Mandatory Provident Fund. This therefore requires new algorithms in computing pay and corresponding SSS Contributions and the new Mandatory Provident Fund Contributions.

There will be no choice for anyone in the payroll field. If you're doing your payroll manually, you'll need to overhaul your spreadsheet models by January 1, 2021. And if your payroll is computerized - regardless of who your payroll app supplier is - you are well advised to scramble: you'll need to get your payroll database structures modified and expanded; and you'll need to rewrite your algorithms, processing modules, and reports.

The SSS reports, Employee Ledgers, Pay Registers and other reports where SSS contributions appear - all of these will have to be modified. The Annualization modules, and the tables and reports on these will also require modification.

With this latest change, ALL payroll software offerings by ALL payroll software vendors will need to undergo many modifications and rewrites. Therefore, if you are a using any payroll software solution at all, from any software vendor at all, you will have to upgrade your current license to respond to this new SSS development.

Continue reading this article online.





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