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Why and when should you register your business in SSS, PhilHealth and Pag-IBIG?

Updated: May 31, 2023



WHEN entrepreneurs start a business, they often overlook a crucial aspect of compliance — registering with the Social Security System (SSS), the Philippine Health Insurance Corp. (PhilHealth) and the Home Development Mutual Fund (Pag-IBIG). Amid the various requirements that accompany the launch of a new enterprise, it is essential to explore why registration with these institutions is necessary and the advantages it brings.


First, let us delve into the benefits of such registration. By enrolling their business with SSS, entrepreneurs ensure their employees can access comprehensive social security coverage. This encompasses retirement, disability, sickness and maternity benefits. Furthermore, employees become eligible for loan programs, offering financial assistance during challenging periods.


PhilHealth registration, on the other hand, facilitates health care coverage for employees, granting them access to quality medical services and hospitalization benefits. Providing these essential benefits not only promotes the welfare of the workforce but also contributes to a healthier and more productive work environment.


Meanwhile, registering with Pag-IBIG opens doors to housing and savings programs for employees. These benefits include affordable home financing options and savings programs that promote financial security and stability.


While these benefits are great, one can't help but ask: when is the ideal time to register a business with these entities? Considering the many expenses just to launch a startup, it's natural for entrepreneurs to want to know their options so that they can plan and budget accordingly.


Experts recommend pursuing early registration, preferably during the early stages of the business' establishment. "We usually recommend registering with the three agencies when a company hires its first employee," suggests Janice, head of Permitly Philippines. "Taking a proactive approach not only ensures compliance with legal requirements but also allows ample time to familiarize oneself with the membership registration process. Consequently, businesses can maximize the benefits for both their operations and employees."


Georgianna Carlos, founder of Fetch! Naturals and a board member of Permitly, shared insights from her perspective as both an employee and a business owner. "As someone who has been both an employee and a business owner, having been registered in these institutions does give a certain peace of mind. As an employee, one feels more secure. As a business owner, it helps to know everyone has options," she affirmed. Such sentiments highlight the value of registration from the viewpoint of stakeholders directly involved in the business ecosystem.


As the business landscape evolves, staying informed and proactive becomes paramount. Registering one's business with SSS, PhilHealth and Pag-IBIG demonstrates responsible and forward-thinking management. This commitment to compliance not only strengthens the business' foundation but also positions it favorably in a dynamic economy where regulations and employee welfare are increasingly important.


In conclusion, registering a business with SSS, PhilHealth and Pag-IBIG offers significant benefits worth considering. Prioritizing employee welfare and fulfilling regulatory obligations can enhance a company's reputation, attract top talent, and establish the groundwork for sustainable growth. By recognizing the advantages of registration with these entities, entrepreneurs can make informed decisions that will benefit both their businesses and their employees in the long run.


Georgianna "George" Carlos is a serial entrepreneur based in the Philippines. She is the founder and board member of three companies: Fetch!, a line of all natural pet care products made out of 100-percent plant Aqueous Extract, MyOffice Philippines, the first Filipino-owned and operated virtual office in the country for mobile workers, and Permitly, an online solution to help entrepreneurs register their business and fulfill compliances in the Philippines. Through her work, she has garnered multiple accolades including Forbes Asia 30 Under 30 and Tatler Asia Generation T.

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