The Balmori Software Newsletter
The SME resource for practical computerization concerns. No. 2101
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The Balmori Software Newsletter The SME resource for practical computerization concerns. No. 2101 |
More changes to SSS and Philhealth contributions
Hello again, and best wishes for the new year. 
direct to your employees SURE! PayMaster's QuickSend module SURE! PayMaster* has a new optional feature that will increase your data security and further reduce the man-hours you devote to the payroll process - permanently. We call it the QuickSend module; and it will let you automatically email encrypted (password protected) payslips directly to employees.At last, this aspect of payroll can be fully paperless. And swift. No more need to print out payslips. No more need to stuff them into envelopes and then seal those envelopes for confidentiality. No more need to rely on a cadre of trusted clerks to distribute the payslips to all company workers every payday. Red more online. Or maybe pseudo-good news and bad news. Bad news from the SSS, pseudo-good news from Philhealth. A second SSS whammy in less than a month. To get straight to the point, there's been yet another change in the SSS deduction table, two weeks after a recent one. This marks a second change to SSS contribution rules in fifteen days. The first whammy was in a circular dated 2020 December 7th. SSS Circular 2020-033 made a major change to the SSS contribution schedules. It added a new type of salary deduction to what employees are already enduring. SSS called it the Mandatory Provident Fund. We outlined the nature of that change in a Balmori Software Bulletin dated 2020 December 11th. On December 22 (ie, 15 days later), the SSS announced a "refinement" through SSS Circular 2020-033b.The changes in this follow-up circular are not trivial: - additional income brackets appended to the Mandatory Provident Fund provision, with commensurate mandatory contributions (didn't we say this was going to be bad news?); and - a revision of the treatment of the bottom income bracket such that now, nobody is exempt from contributions, regardless even if their income is as low as PhP1.00 for a given pay period. The two-weeks-earlier version exempted workers earning less than PhP1000. (Is this merely bad news, or does it edge into cruel? Because, theoretically, a poor hypothetical schmuck making a hypothetical PhP1.00 next payday will still have to cough up the PhP135 minimum mandated contribution. Really.) SURE! PayMaster users, you're covered. Balmori Software assures its customers that SURE! PayMaster has yet again (just two weeks later) been adjusted, this time to respond to SSS Circular 2020-033b. Read more online.
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