If you work on employees’ payroll, year-end and the start of the year could be a busy time for you because you have to prepare for BIR compliances. On top of that, you have to compute payroll deductions in the new year with modifications in Income Income Tax Rate, PhilHealth Contribution Rate, Withholding Tax Compensation Rate, and SSS Contribution Rate.
Last December 13, 2022, the SSS released Circular No. 2022-033 to announce an increase of social security contribution rate to 14% beginning January 2023. This is in accordance with SSC Resolution No 751-2 2022 released on November 5, 2022.
Check out the new Social Security schedule below. We’ve outlined the contribution table that applies for All Business Employers (ERs) and Employees (EE) effective in 2023.
SSS Contribution Table for 2023
| Range of Compensation | Monthly Salary Credit | Regular | EC | WISP | ||||
| From | To | Regular / EC | WISP | ER | EE | ECC | ER | EE |
1 | 0.00 | 4,249.99 | 4,000.00 | 0.00 | 380.00 | 180.00 | 10.00 | 0.00 | 0.00 |
2 | 4,250.00 | 4,749.99 | 4,500.00 | 0.00 | 427.50 | 202.50 | 10.00 | 0.00 | 0.00 |
3 | 4,750.00 | 5,249.99 | 5,000.00 | 0.00 | 475.00 | 225.00 | 10.00 | 0.00 | 0.00 |
4 | 5,250.00 | 5,749.99 | 5,500.00 | 0.00 | 522.50 | 247.50 | 10.00 | 0.00 | 0.00 |
5 | 5,750.00 | 6,249.99 | 6,000.00 | 0.00 | 570.00 | 270.00 | 10.00 | 0.00 | 0.00 |
6 | 6,250.00 | 6,749.99 | 6,500.00 | 0.00 | 617.50 | 292.50 | 10.00 | 0.00 | 0.00 |
7 | 6,750.00 | 7,249.99 | 7,000.00 | 0.00 | 665.00 | 315.00 | 10.00 | 0.00 | 0.00 |
8 | 7,250.00 | 7,749.99 | 7,500.00 | 0.00 | 712.50 | 337.50 | 10.00 | 0.00 | 0.00 |
9 | 7,750.00 | 8,249.99 | 8,000.00 | 0.00 | 760.00 | 360.00 | 10.00 | 0.00 | 0.00 |
10 | 8,250.00 | 8,749.99 | 8,500.00 | 0.00 | 807.50 | 382.50 | 10.00 | 0.00 | 0.00 |
11 | 8,750.00 | 9,249.99 | 9,000.00 | 0.00 | 855.00 | 405.00 | 10.00 | 0.00 | 0.00 |
12 | 9,250.00 | 9,749.99 | 9,500.00 | 0.00 | 902.50 | 427.50 | 10.00 | 0.00 | 0.00 |
13 | 9,750.00 | 10,249.99 | 10,000.00 | 0.00 | 950.00 | 450.00 | 10.00 | 0.00 | 0.00 |
14 | 10,250.00 | 10,749.99 | 10,500.00 | 0.00 | 997.50 | 472.50 | 10.00 | 0.00 | 0.00 |
15 | 10,750.00 | 11,249.99 | 11,000.00 | 0.00 | 1,045.00 | 495.00 | 10.00 | 0.00 | 0.00 |
16 | 11,250.00 | 11,749.99 | 11,500.00 | 0.00 | 1,092.50 | 517.50 | 10.00 | 0.00 | 0.00 |
17 | 11,750.00 | 12,249.99 | 12,000.00 | 0.00 | 1,140.00 | 540.00 | 10.00 | 0.00 | 0.00 |
18 | 12,250.00 | 12,749.99 | 12,500.00 | 0.00 | 1,187.50 | 562.50 | 10.00 | 0.00 | 0.00 |
19 | 12,750.00 | 13,249.99 | 13,000.00 | 0.00 | 1,235.00 | 585.00 | 10.00 | 0.00 | 0.00 |
20 | 13,250.00 | 13,749.99 | 13,500.00 | 0.00 | 1,282.50 | 607.50 | 10.00 | 0.00 | 0.00 |
21 | 13,750.00 | 14,249.99 | 14,000.00 | 0.00 | 1,330.00 | 630.00 | 10.00 | 0.00 | 0.00 |
22 | 14,250.00 | 14,749.99 | 14,500.00 | 0.00 | 1,377.50 | 652.50 | 10.00 | 0.00 | 0.00 |
23 | 14,750.00 | 15,249.99 | 15,000.00 | 0.00 | 1,425.00 | 675.00 | 30.00 | 0.00 | 0.00 |
24 | 15,250.00 | 15,749.99 | 15,500.00 | 0.00 | 1,472.50 | 697.50 | 30.00 | 0.00 | 0.00 |
25 | 15,750.00 | 16,249.99 | 16,000.00 | 0.00 | 1,520.00 | 720.00 | 30.00 | 0.00 | 0.00 |
26 | 16,250.00 | 16,749.99 | 16,500.00 | 0.00 | 1,567.50 | 742.50 | 30.00 | 0.00 | 0.00 |
27 | 16,750.00 | 17,249.99 | 17,000.00 | 0.00 | 1,615.00 | 765.00 | 30.00 | 0.00 | 0.00 |
28 | 17,250.00 | 17,749.99 | 17,500.00 | 0.00 | 1,662.50 | 787.50 | 30.00 | 0.00 | 0.00 |
29 | 17,750.00 | 18,249.99 | 18,000.00 | 0.00 | 1,710.00 | 810.00 | 30.00 | 0.00 | 0.00 |
30 | 18,250.00 | 18,749.99 | 18,500.00 | 0.00 | 1,757.50 | 832.50 | 30.00 | 0.00 | 0.00 |
31 | 18,750.00 | 19,249.99 | 19,000.00 | 0.00 | 1,805.00 | 855.00 | 30.00 | 0.00 | 0.00 |
32 | 19,250.00 | 19,749.99 | 19,500.00 | 0.00 | 1,852.50 | 877.50 | 30.00 | 0.00 | 0.00 |
33 | 19,750.00 | 20,249.99 | 20,000.00 | 0.00 | 1,900.00 | 900.00 | 30.00 | 0.00 | 0.00 |
34 | 20,250.00 | 20,749.99 | 20,000.00 | 500.00 | 1,900.00 | 900.00 | 30.00 | 47.50 | 22.50 |
35 | 20,750.00 | 21,249.99 | 20,000.00 | 1,000.00 | 1,900.00 | 900.00 | 30.00 | 95.00 | 45.00 |
36 | 21,250.00 | 21,749.99 | 20,000.00 | 1,500.00 | 1,900.00 | 900.00 | 30.00 | 142.50 | 67.50 |
37 | 21,750.00 | 22,249.99 | 20,000.00 | 2,000.00 | 1,900.00 | 900.00 | 30.00 | 190.00 | 90.00 |
38 | 22,250.00 | 22,749.99 | 20,000.00 | 2,500.00 | 1,900.00 | 900.00 | 30.00 | 237.50 | 112.50 |
39 | 22,750.00 | 23,249.99 | 20,000.00 | 3,000.00 | 1,900.00 | 900.00 | 30.00 | 285.00 | 135.00 |
40 | 23,250.00 | 23,749.99 | 20,000.00 | 3,500.00 | 1,900.00 | 900.00 | 30.00 | 332.50 | 157.50 |
41 | 23,750.00 | 24,249.99 | 20,000.00 | 4,000.00 | 1,900.00 | 900.00 | 30.00 | 380.00 | 180.00 |
42 | 24,250.00 | 24,749.99 | 20,000.00 | 4,500.00 | 1,900.00 | 900.00 | 30.00 | 427.50 | 202.50 |
43 | 24,750.00 | 25,249.99 | 20,000.00 | 5,000.00 | 1,900.00 | 900.00 | 30.00 | 475.00 | 225.00 |
44 | 25,250.00 | 25,749.99 | 20,000.00 | 5,500.00 | 1,900.00 | 900.00 | 30.00 | 522.50 | 247.50 |
45 | 25,750.00 | 26,249.99 | 20,000.00 | 6,000.00 | 1,900.00 | 900.00 | 30.00 | 570.00 | 270.00 |
46 | 26,250.00 | 26,749.99 | 20,000.00 | 6,500.00 | 1,900.00 | 900.00 | 30.00 | 617.50 | 292.50 |
47 | 26,750.00 | 27,249.99 | 20,000.00 | 7,000.00 | 1,900.00 | 900.00 | 30.00 | 665.00 | 315.00 |
48 | 27,250.00 | 27,749.99 | 20,000.00 | 7,500.00 | 1,900.00 | 900.00 | 30.00 | 712.50 | 337.50 |
49 | 27,750.00 | 28,249.99 | 20,000.00 | 8,000.00 | 1,900.00 | 900.00 | 30.00 | 760.00 | 360.00 |
50 | 28,250.00 | 28,749.99 | 20,000.00 | 8,500.00 | 1,900.00 | 900.00 | 30.00 | 807.50 | 382.50 |
51 | 28,750.00 | 29,249.99 | 20,000.00 | 9,000.00 | 1,900.00 | 900.00 | 30.00 | 855.00 | 405.00 |
52 | 29,250.00 | 29,749.99 | 20,000.00 | 9,500.00 | 1,900.00 | 900.00 | 30.00 | 902.50 | 427.50 |
53 | 29,750.00 | Over | 20,000.00 | 10,000.00 | 1,900.00 | 900.00 | 30.00 | 950.00 | 450.00 |
Check out this SSS Contribution Table 2023 Excel File. You can download it to make computations easier for you. You cannot be complacent when computing for the payroll because there are many rules and regulations to keep in mind. It can get tricky with overtime pay, night differential fees, and other things to consider. Avoid the possibility of errors by automating or seeking payroll services from a reliable accounting firm.
If you are preparing for the payroll of multiple employees, you may consider calling our team for payroll services. Our accounting experts will deal with the stress so you won’t have to. This means you can save time and energy. More importantly, this will reduce mistakes because certified public accountants will be reviewing your payroll documents.
