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The Social Security System (SSS; Filipino: Paseguruhan ng mga Naglilingkod sa Pribado) [4] is a state-run social insurance program in the Philippines to workers in the private, professional and informal sectors. SSS is established by virtue of Republic Act No. 1161, better known as the Social Security Act of 1954.
Key takeaways. Student loan repayment assistance programs can offer employees tax-free benefits up to $5,250. Employer programs offer different types of assistance, including signing bonuses ...
Companies may work with a vendor to administer these payments. [3] Employer student loan contributions used to be taxable as regular income in the U.S. [3] According to the Coronavirus Aid, Relief, and Economic Security Act, payments of student loan principal and interest by an employer to either an employee or a lender is not taxable to the ...
It is not possible for non-government employees, self-employed or non-working persons to become members of the GSIS. Instead, they are covered by the Social Security System (SSS). Meanwhile government employees in addition to GSIS, can also become members of the SSS at their own cost.
According to Presidential Decree No. 851, an employer is mandated by law to give his employees thirteenth month pay. The thirteenth month pay required by law should not be less than one twelfth of the total basic salary earned by an employee within a calendar year. [11] The thirteenth month pay is exempted from being taxed by the government.
The Social Security number is a nine-digit number in the format "AAA-GG-SSSS". [35] The number has three parts: the first three digits, called the area number because they were formerly assigned by geographical region; the middle two digits, the group number; and the last four digits, the serial number.
The loan had a lower interest rate compared to the prevailing rate in the market and payable in longer terms. Pag-IBIG Fund offers a home loan at a low interest rate of 4.5% (for ₱450,000 loan) with a loan term of up to 30 years. A qualified member can get a maximum loan amount of up to ₱6 million.
The Legal Entity Identifier (LEI) is a unique global identifier for legal entities participating in financial transactions. [1] Also known as an LEI code or LEI number, its purpose is to help identify legal entities on a globally accessible database.