failure to remit workers' contributions of about P300,000 to the Social Security System (SSS), court records showed.
Judge Ma. Luisa Quijano-Padilla sent Sy Sin, owner of Palace Enterprises and Manufacturing, to jail for failure to remit employees'
SSS contributions from January 1999 to December 2001.
"Accused is further ordered to remit to the SSS the premium delinquency of P290,651.50 plus the three percent penalty computed
from the time of demand until fully settled, and to pay a fine of P5,000," the judge said in a four-page decision.
Companies are required to report workers for SSS coverage within 30 days from employment and remit their premiums to the SSS on or before
the tenth day after the applicable month. Late contributions are charged a three percent monthly penalty.
Sin offered to settle his delinquency in his proposal to pay SSS in installments. SSS pursued the case against him when he reneged on his
SSS Senior Vice President for Legal and Collection Amador Monteiro reminded employers that violations against the Social Security law are
"We hope this decision serves as warning to delinquent employers. Under the law, they face imprisonment of six to 12 years
and a fine of up to P20,000 on top of monthly penalties," he said.