Don’t just set your eyes with the net that you are receiving every month, but have time to peek at the deductions from your pay slip and check whether it is correct or not.
So what are the deductions from your pays lip, how to apply them and what benefits what you can get from them?
Social Security System or SSS:
SSS is a government agency in which can help you covered by various welfare and insurance programs. When you reach the age of 60 and not working anymore, you will get some funds from them every month.
To become a member of SSS, you will need to go to SSS agency and register yourself there. They will give you a number referred to as your permanent SSS number; it will be in a piece of paper since the SSS ID card will be followed 3 months after you applied. To become a fully member of SSS, the employer should report you are employed in their company and they will be paying your contribution every month. You can be also a member even if you are not working, you will just tick the box of self-employed or voluntary and if you will contribute for one month.
The Benefits that you can get from SSS is it covers a wide range wherein you can be provided with cash allowance when during sickness, maternity, disability, retirement, death and funeral. SSS offers cash loans for short term credits, which can be payable within 2 years.