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SSS continues condonation of delinquent payments

The Social Security System (SSS) announced the extension of their program that started on March 2020 on the condonation of delinquent payments to those who qualify. Those qualified are employers who are delinquent in the payment of their contributions and whose financial positions demonstrate a clear inability to pay their assessed delinquency charges due to economic crisis, serious business losses or financial reverses, natural calamity or man-made disaster without fault on their part. One of two payment methods may be applied.
The first payment method is through the full payment of the total assessed contribution delinquency within 15 calendar days from the receipt of Notice of Approval by the SSS, while the second is through installment payments for a period of four to 24 months, depending on the employer’s total amount of delinquency. A down payment of at least five percent of the amount of principal delinquency is required under the installment payment method. It also has an interest rate of six percent per annum.
Pending cases or final judgment of employers involving the collection of contributions and/or penalties incurred from the applicable month of March 2020 and onwards may be withdrawn upon the approval of their PRRP 2 application, without prejudice to its revival or refiling. Those with judgments that have acquired finality, however, are no longer covered by the program.

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