what is monthly salary credit in sss

what is monthly salary credit in sss

1 year ago 50
Nature

The Monthly Salary Credit (MSC) is the compensation base for contributions and benefits related to a members total earnings for the month, as indicated in the schedule in Section 18 of the SS Law. It is used to calculate the monthly contribution amount for SSS benefits. The MSC is determined based on the members actual monthly compensation or income, and it is acknowledged by SSS according to the members compensation range. The minimum MSC is set to ₱4,250, and the maximum MSC is ₱29,750. To compute the monthly SSS contribution, the MSC is multiplied by the contribution rate, which is currently 14% (9.5% employer share and 4.5% employee share) . The SSS contribution table can be used to find the corresponding salary bracket for the monthly income, and then the equivalent MSC from the "Total" column can be obtained. The total monthly contribution can be calculated using the formula MSC x Contribution Rate.

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