Ano ba ang Compensation? Ano ang mga earnings or incomes na kasama sa Compensation -- na kung saan ibi-base ang monthly SSS contribution?
Importante na tama ang Compensation lalo na sa EMPLOYEES, kasi Compensation ang batayan ng amount ng contribution ng EMPLOYEE at ng kanyang EMPLOYER.
Ito ang list ng earnings or incomes na kasama sa Compensation. Dapat kasama lahat ito sa pag-determine ng SSS monthly contributions ng EMPLOYEE at EMPLOYER.
- Salaries and Wages
- Overtime Pay
- Cost of Living Allowance (COLA)
- Emergency COLA
- Cash Value of Living Expenses
- Workers Compensation Benefit
- Bonuses, except Christmas Bonus
- Payment for Maternity Leave
- Payment for Sick Leave
- Payment for Vacation Leave
- Payment for Direct Labor or Indirect Labor
- Transportation, Board and Lodging Allowance
- Commission Advances
- Monthly Allowances
- Tuition, Matriculation and School Benefits
- Salaries Earned While on Board Foreign Vessel
- Superintendence Payment
- Share in a Project
Sa madaling salita, lahat ng income, except Christmas Bonus, ay kasama sa Compensation.
According to the Social Security Law, Republic Act No. 8282, SEC. 7 (f), Compensation means all actual remuneration for employment, including the mandated cost of living allowance, as well as the cash value of any remuneration paid in any medium other than cash except that part of the remuneration received during the month in excess of the maximum salary credit as provided under Section Eighteen of this Act.
Section Eighteen says:
SEC. 18. Employee's Contribution. - Beginning as of the last day of the calendar month when an employee's compulsory coverage takes effect and every month thereafter during his employment, the employer shall deduct and withhold from such employee's monthly salary, wage, compensation or earnings, the employee's contribution in an amount corresponding to his salary, wage, compensation or earnings during the month in accordance with the contribution schedule.
Source of list of incomes or earnings considered:
Citizen's Charter of the Social Security System
1st Edition, December 2009
during the SSS Presidency of Romulo L. Neri