Social Security System president and chief executive officer Michael Regino on Tuesday reminded delinquent employers that the deadline for application for its Pandemic Relief and Restructuring Program 2 is on May 19.
PRRP 2 is a social security contribution penalty condonation program for business and household employers.
“We encourage qualified employers to avail of the PRRP 2 early so that they can avoid the inconveniences of last-minute filing and face the risk of missing the opportunity,” he said.
“This will not only enable delinquent employers to regain their good standing with the SSS but will also prevent the further accrual of penalties on their past-due social security contributions. It will also help their employees avail benefits and loans,” Regino added.
The program launched last Nov. 19 covers past-due social security contributions for the months of March 2020 to the present time.
Those qualified to avail of the program are employers who are delinquent in the payment of their contributions for the said period and whose financial positions demonstrate a clear inability to pay their assessed delinquency charges due to economic crisis, serious business losses or financial reverses, natural calamity, or man-made disaster without fault on their part.
“By availing of the program, the employers will be able to settle their delinquencies for the said period through one of two payment methods, both with the condonation of accrued penalties,” the SSS chief noted.
The first payment method is through the full payment of the total assessed contribution delinquency within 15 calendar days from the receipt of notice of approval by the SSS.
On the other hand, the second is through installment payments for a period of four to 24 months, depending on the employer’s total amount of delinquency.