Pag-IBIG bares penalty condonation for delinquent employers
Negros Occidental (30 June) -- The Home Development Mutual Fund's (Pag-IBIG Fund) board of trustees has recently approved an amnesty program waiving penalties for delinquent companies or employers.
The rationale, per Vice President Noli de Castro, is simply to allow the Pag-IBIG "to reach out to all Filipino workers by encouraging delinquent employers to register with the Fund, and to collect and remit the mandated membership contribution and employer counterpart."
The condonation program, as provided for under HDMF Circular No. 263, will cover employers who are unregistered with the Fund, those whose applications for waiver from Fund coverage were denied but who failed to register, and companies duly registered with the Fund but did not collect employee contributions and did not remit employer counterpart.
The employers who meet these criteria must file their applications for penalty condonation on or before the last working day prior to December 31, 2009. Their applications will then be evaluated based on several grounds, primarily, financial difficulty to meet the company's statutory obligation under Presidential Decree 1752 that mandates coverage by Pag-IBIG of all Social Security System-covered and Government Service Insurance System-covered employees and their employers, as amended.
The amnesty program does not include employers who collected membership contributions and/or short term loan amortizations from their employees and failed to remit the same to the Fund.
Qualified employers who cannot immediately pay the entire amount due shall be given a maximum of twenty four (24) months to settle. The remaining unpaid balance shall earn an interest of one percent (1%) per month.
For more details on the above program, interested parties may contact Pag-IBIG Fund Bacolod Branch at tel. no. 435-1129, 435-1137 to 40, local 106 and 107. (Pag-IBIG/PIA/EAD) [top]