NextGen Day

The Employees’ Compensation Commission (ECC) announced on Wednesday that the fine for businesses that don’t pay Social Security System (SSS) and Government Service Insurance Systems contributions has been reduced (GSIS).

Resolution No. 22-12-36 of the ECC Board lays out the measure.

The resolution stated, “The Commission resolves to alter Rule V, Section 3 (4) of the Amended Rules on Employees’ Compensation.”

It was added that the negligent employer must pay the unremitted or delinquent contribution, plus a penalty of 6% per year, for any EC contributions that are not made to the SSS or the GSIS in accordance with the law.

ECC executive director Jomar Batino stated at a Laging Handa press conference that the initiative aims to support businesses that are beginning to recover from the effects of the coronavirus pandemic.

“Many businesses have struggled as a result of the pandemic, with some only now beginning to recover. The ECC thinks it is preferable to lessen the penalty in order to reconcile its condonation regulations with those of SSS “Batino threw in.

A delinquent employer is required to pay a penalty of 2% per month from the day the contribution is due until it is paid, in addition to the contribution, prior to the publication of the new resolution.

A departmental affiliate of the Department of Labor and Employment is the ECC.

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