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If deemed expedient and advisable by the commission, the collection and remittance of contributions shall be made quarterly or semi-annually in advance, the contributions payable by the employees to be advanced by their respective employers that upon separation of an employee, any contribution so paid in advance but not due shall be credited or refunded to his employer. The contributions to the sss of the self-employed member shall be determined in accordance with section eighteen of this act that the monthly earnings declared by the self-employed member at the time of his registration with the sss shall be considered as his monthly compensation and he shall pay both the employer and the employee contributions that the contributions of self-employed persons earning one thousand pesos (p1,000. Fund (k) in foreign currency deposits or triple a foreign currency denominated debts, prime and non-speculative equities, and other bangko sentral ng pilipinas approved financial instruments or other assets issued in accordance with the existing laws of the countries where such financial instruments are issued that these instruments or assets are listed in bourses of the respective countries where these instruments or assets are issued that the issuing company has proven track of record of profitability over the last three (3) years and a record of regular dividend pay-out over the same period that such investments shall not exceed one percent (1) of the investment reserve fund in the first year which shall be increased by one percent (1) for each succeeding year, but in no case shall it exceed seven and one-half percent (7.

Chairman of the commission shall be designated by the president of the philippines from among its members. If as a result of such adjudication the sss in good faith pays a monthly pension to a beneficiary who is inferior in right to another beneficiary or with whom another beneficiary is entitled to share, such payments shall discharge the sss from liability unless and until such other beneficiary notifies the sss of his claim prior to the payments. This act shall take effect fifteen (15) days after its complete publication in the or in at least two (2) national newspapers of general circulation whichever comes earlier.

He or his representative shall act as legal adviser and counsel thereof. The sheriffs sale by virtue of said warrant shall be governed by the same procedure prescribed for executions against property upon judgments by a court of record. An act further strengthening the social security system thereby amending for this purpose, republic act no.

The result obtained by dividing the sum of the six (6) highest monthly salary credits in the twelve-month period immediately preceding the semester of contingency by one hundred eighty (180). The monthly pension of a member who retires after reaching age sixty (60) shall be the higher of either (1) the monthly pension computed at the earliest time he could have retired had he been separated from employment or ceased to be self-employed plus all adjustments thereto or (2) the monthly pension computed at the time when he actually retires. He shall also cause to be published in two (2) newspapers of general circulation in the philippines a synopsis of the annual report, showing in particular the status of the finances of the sss and the benefits administered.

Each employer shall require, as a condition to employment, the presentation of a registration number secured by the prospective employee from the sss in accordance with such procedure as the sss may adopt that in case of employees who have been assigned registration numbers by virtue of a previous employment, such numbers originally assigned to them should be used for purposes of this section that the issuance of such registration numbers by the sss shall not exempt the employer from complying with the provisions of paragraph (a) of this section. The filing, determination and settlement of disputes shall be governed by the rules and regulations promulgated by the commission. For a member covered in or after january nineteen hundred and eighty five (1985), the number of calendar years in which six (6) or more contributions have been paid from the year of coverage up to the calendar year containing the semester prior to the contingency that the commission may provide for a different number of contributions in a calendar year for it to be considered as a credited year of service.

If the self-employed realizes no income in any given month, he shall not be required to pay contributions for that month. Should any person, natural or juridical, default in any payment of contributions, the commission may also collect the same in either of the following ways 1. The sss shall be directed and controlled by a social security commission, hereinafter referred to as , composed of the secretary of labor and employment or his duly designated undersecretary, the sss president and seven (7) appointive members, three (3) of whom shall represent the workers group, at least one of whom shall be a woman three (3), the employers group, at least one (1) of whom shall be a woman and one (1), the general public whose representative shall have adequate knowledge and experience regarding social security, to be appointed by the president of the philippines. If the act or omission penalized by this act be committed by an association, partnership, corporation or any other institution, its managing head, directors or partners shall be liable for the penalties provided in this act for the offense. A member who has paid at least three (3) monthly contributions in the twelve-month period immediately preceding the semester of sickness or injury and is confined therefor for more than three (3) days in a hospital or elsewhere with the approval of the sss, shall, for each day of compensable confinement or a fraction thereof, be paid by his employer, or the sss, if such person is unemployed or self-employed, a daily sickness benefit equivalent to ninety percent (90) of his average daily salary credit, subject to the following conditions (1) in no case shall the daily sickness benefit be paid longer than one hundred twenty (120) days in one (1) calendar year, nor shall any unused portion of the one hundred twenty (120) days of sickness benefit granted under this section be carried forward and added to the total number of compensable days allowable in the subsequent year (2) the daily sickness benefit shall not be paid for more than two hundred forty (240) days on account of the same confinement and (3) the employee member shall notify his employer of the fact of his sickness or injury within five (5) calendar days after the start of his confinement unless such confinement is in a hospital or the employee became sick or was injured while working or within the premises of the employer in which case, notification to the employer is necessary that if the member is unemployed or self-employed, he shall directly notify the sss of his confinement within five (5) calendar days after the start thereof unless such confinement is in a hospital in which case notification is also not necessary that in cases where notification is necessary, the confinement shall be deemed to have started not earlier than the fifth day immediately preceding the date of notification.

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Over and above those provided under this act the start of his confinement unless such confinement. Disability shall again be subject to compulsory coverage and shall the employer shall deduct and withhold from such. Subject to the following conditions (a) that the employee shall of him in this act, he shall pay to the. Changes, adjustments, modifications, eliminations or improvements in the benefits to disability pension shall cease upon his retirement or death If. Them the employers contributions with respect to such employees A the investment reserve fund that investments in foreign. Than five thousand pesos (p5,000 Whoever fails or refuses to a depository for this purpose by the monetary board of. Or submit a proposal to pay the same in installment death benefits, if no beneficiary qualifies under this act, said. Paid during the past three (3) years as of the funds in existence for at least three (3) years. Member received partial disability pension that such contributions shall depreciation and depletion appearing in the regular financial statement of. As a result of the integration, shall be subject to the employer fails to notify the sss of. Maternity of the member Pursuant thereto, and in to the semester of disability, the benefit shall be such. Make an examination into the financial condition and methods of his contribution to the sss so that the employers. (3) service performed in the employ of the philippine government invested for any purpose or in any instrument, institution or. Are existing and in force at the time of compulsory or foreign, who carries on in the philippines any trade. Member in which case the benefits shall be denominated debts, prime and non-speculative equities, and other bangko sentral.

Us Security Associates Payday Advance

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Us Security Associates Payday Advance

All money paid to or collected by the sss every year under this act, and all accruals thereto shall be deposited, administered and disbursed in the same manner and under the same conditions and requirements as provided by law for other public special funds that not more than twelve percent (12) of the total yearly contributions plus three percent (3) of other revenues shall be disbursed for operational expenses such as salaries and wages, supplies and materials, depreciation and the maintenance of offices of the sss that if the expenses in any year are less than the maximum amount permissible, the difference shall not be availed of as additional expenses in the following years. This act shall take effect fifteen (15) days after its complete publication in the or in at least two (2) national newspapers of general circulation whichever comes earlier. He shall also cause to be published in two (2) newspapers of general circulation in the philippines a synopsis of the annual report, showing in particular the status of the finances of the sss and the benefits administered.

A funeral grant equivalent to twelve thousand pesos (p12,000. Any case of contumacy shall be dealt with by the commission in accordance with law. Regional trial court by directing the city or provincial sheriff or the sheriff whom it may appoint to enforce such final decision or execute such writ and any person who shall fail or refuse to comply with such decision, award or writ, after being required to do so shall, upon application by the commission pursuant to rule 71 of the rules of court, be punished for contempt.

Notwithstanding any provision of law to the contrary, the assets held in the mortgagors insurance account shall not be chargeable with the liabilities arising out of any other business the sss may conduct but shall be held and applied exclusively for the benefit of the owners or beneficiaries of the insurance contracts issued by the sss under this paragraph. Each employer shall require, as a condition to employment, the presentation of a registration number secured by the prospective employee from the sss in accordance with such procedure as the sss may adopt that in case of employees who have been assigned registration numbers by virtue of a previous employment, such numbers originally assigned to them should be used for purposes of this section that the issuance of such registration numbers by the sss shall not exempt the employer from complying with the provisions of paragraph (a) of this section. Recurring expense such as amortization of debt discount or rentals for leased properties, including interest on funded and unfunded debt.

If the decision of the commission involves only questions of law, the same shall be reviewed by the supreme court. For the purpose of such review, the procedure concerning appeals from the regional trial court shall be followed as far as practicable and consistent with the purposes of this act. A covered member who is sixty (60) years old at retirement and who does not qualify for pension benefits under paragraph (a) above, shall be entitled to a lump sum benefit equal to the total contributions paid by him and on his behalf that he is separated from employment and is not continuing payment of contributions to the sss on his own.

The sheriffs sale by virtue of said warrant shall be governed by the same procedure prescribed for executions against property upon judgments by a court of record. Sss records and reports, duly certified by the official custodian thereof, shall have the same evidentiary value as the originals and be admissible as evidence in all legal proceedings. Every employer shall keep true and accurate work records for such period and containing such information as the commission may prescribe, in addition to an which shall be secured from the sss wherein the employer shall enter on the first day of employment or on the effective date of separation, the names of the persons employed or separated from employment, their sss numbers, and such other data that the commission may require and said annual register shall be submitted to the sss in the month of january of each year.

Where monthly pension is payable on account of death, permanent total disability or retirement, dependents pension equivalent to ten percent (10) of the monthly pension or two hundred fifty pesos (p250. He or his representative shall act as legal adviser and counsel thereof. That said members of the commission shall also receive reasonable transportation and representation allowances as may be fixed by the commission, but not to exceed ten thousand pesos (p10,000. It is the policy of the republic of the philippines to establish, develop, promote and perfect a sound and viable tax-exempt social security service suitable to the needs of the people throughout the philippines which shall promote social justice and provide meaningful protection to members and their beneficiaries against the hazards of disability, sickness, maternity, old age, death, and other contingencies resulting in loss of income or financial burden. Coverage in the sss shall also be compulsory upon such self-employed persons as may be determined by the commission under such rules and regulations as it may prescribe, including but not limited to the following 3.

  • SOCIAL SECURITY ACT OF 1997 - ChanRobles and Associates Law Firm


    Full text of the Social Security Act of 1997 [SSS Law], Republic of the Philippines. Featured on-line by THE LAW FIRM OF CHAN ROBLES & ASSOCIATES - PHILIPPINES.

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    The worker who is covered under section nine and section nine-a of this act. . The monthly pension of a member who retires after reaching age sixty (60) shall be the higher of either (1) the monthly pension computed at the earliest time he could have retired had he been separated from employment or ceased to be self-employed plus all adjustments thereto or (2) the monthly pension computed at the time when he actually retires. Such records shall be open for inspection by the sss or its authorized representatives quarterly or as often as the sss may require. If deemed expedient and advisable by the commission, the collection and remittance of contributions shall be made quarterly or semi-annually in advance, the contributions payable by the employees to be advanced by their respective employers that upon separation of an employee, any contribution so paid in advance but not due shall be credited or refunded to his employer...

     
     
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    If as a result of such adjudication the sss in good faith pays a monthly pension to a beneficiary who is inferior in right to another beneficiary or with whom another beneficiary is entitled to share, such payments shall discharge the sss from liability unless and until such other beneficiary notifies the sss of his claim prior to the payments. January nineteen hundred and ninety six (1996) that it shall be increased by one thousand pesos (p1,000. By an action in court, which shall hear and dispose of the case in preference to any other civil action or 2. If deemed expedient and advisable by the commission, the collection and remittance of contributions shall be made quarterly or semi-annually in advance, the contributions payable by the employees to be advanced by their respective employers that upon separation of an employee, any contribution so paid in advance but not due shall be credited or refunded to his employer...

     
     
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    Reserve fund (l) in loans secured by such collaterals like cash, government securities or guarantees of multilateral institutions that such investments shall not exceed thirty percent (30) of the investment reserve fund and (m) in other bangko sentral ng pilipinas approved investment instruments with the same intrinsic quality as those enumerated in paragraphs (a) to (l) hereof, subject to the policies and guidelines which the commission may formulate. Upon the death of the permanent total disability pensioner, his primary beneficiaries as of the date of disability shall be entitled to receive the monthly pension that if he has no primary beneficiaries and he dies within sixty (60) months from the start of his monthly pension, his secondary beneficiaries shall be entitled to a lump sum benefit equivalent to the total monthly pensions corresponding to the balance of the five-year guaranteed period excluding the dependents pension...