Advisory on the Amount of EC Contribution Relative to the Increase in SS Monthly Salary Credit (MSC)

April 1, 2019ECC CIRCULAR NO. 001-19ADVISORY ON THE AMOUNT OF EC CONTRIBUTION RELATIVE TO THE INCREASE IN SS MONTHLY SALARY CREDIT (MSC)The following advisory on the amount of EC contribution is hereby issued in relation to the increase in the minimum and maximum monthly salary credit (MSC) of SSS effective April 2019: a. The latest issuance on EC contribution in the private sector was on 8 October 2014 through Board Resolution No. 14-10-33 amending Rule V, Section 2 of the Amended Rules on Employees' Compensation and adopting the rate of thirty pesos (P30) for the employees with MSC of fifteen thousand pesos (P15,000) and above while retaining the rate of ten pesos (P10) for those with MSC of one thousand (P1,000) to fourteen thousand five hundred (P14,500).b. The recently passed R.A. 11199 or the Social Security Act of 2018 effectively increased the MSC requirement of SS from the minimum of one thousand (P1,000) to two thousand pesos (P2,000) for the employed and self-employed, and eight thousand pesos (P8,000) for the Overseas Filipino Workers (OFWs) along...