TAX NOTES

SSS to start e-CS for real-time posting of payments in 2018

BEGINNING Jan. 16, the Social Security System (SSS) will introduce the electronic Collection System (e-CS) to facilitate the real-time posting of SSS contribution payments.

The new system intends to eliminate the slow process of manual posting and verification, which members still face today.

Under SSS Circular No. 2017-010, all employers, including household employers, and individual members such as self-employed, voluntary, and overseas Filipino workers, are required to register with My.SSS on the SSS website (www.sss.gov.ph). Payment reference numbers (PRNs) will be used to pay contributions through payment channels, such as tellering facilities in SSS branches, banks, and non-bank collection facilities.

Enrolled employers and individual members can enjoy the following features of the e-CS: Electronic generation of contributions collection list (e-CL) and statement of account (SOA) for employers and individual members, respectively; Review and edit options for the e-CL or SOA; Automatic generation of PRNs upon confirmation of the e-CL or SOA; Automatic generation of electronic notifications and reminders; and Real time posting of contribution details to the accounts of employees and individual members.

Please be guided accordingly.

Source: P&A Grant Thornton

 

As published in SunStar Cebu dated 19 December 2017.