Security System to protect workers from being further burdened with the reduction of their take-home pay.
“We call on President Marcos to suspend the rate increase first. Despite the more expensive cost of living that our countrymen are currently suffering, this additional charge will be a big blow because it will further reduce their capacity to support their families,” Rizal Rep. Fidel Nograles said.
In 2019, the contribution rate was set at 12 percent. It rose to 13 percent in 2021 and to 14 percent in 2023. For this year’s 15-percent increase, 10 percent would be shouldered by employers, while employees will pay the remaining five percent.
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