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Bacolod City, PhilippinesFriday, June 15, 2012
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Employers reminded to avail
of Pag-IBIG condonation plan

Pag-IBIG Fund Bacolod is reminding unregistered and delinquent employers to avail of its penalty condonation program that ends June 30, a press release from the agency said.

The program covers unregistered and delinquent employers, as well as employers who have coverable employees from whom they did not collect membership contributions.

Employers who have deducted but did not remit membership contributions and/or short-term loan amortizations from their employees are disqualified from the penalty condonation as well as employers who have previously availed of the program the press release said.

The condonation program seeks to protect the Pag-IBIG Fund members, as well as provide employers with a workable means to straighten out their membership contribution in arrears.

It also obliges unregistered and delinquent employers to register their employees to the Fund and provide them access to Pag-IBIG benefits due them.

Employers who wish to avail of the program must accomplish application and other important documents available at the Pag-IBIG Fund office Bacolod City.

Upon approval of application for condonation, 100 percent of the penalties on unremitted membership contribution will be condoned.

Employers qualified under this program have the option to pay the arrears in membership contribution in full or installment with plan of payment.

Payment Plans may extend up to a maximum of 24 months for employers with at least 100 employees at the time of application and 60 months for employers with less than 100 employees and, with an interest rate of half-a-percent (0.5) per month on the remaining membership contribution arrears unpaid.

Employers who failed or refused to register despite the Penalty Condonation Program offer will face charges after June 30.

For more information employers may call the Marketing and Enforcement Division at telephone numbers 435-1129, 435-1137 to 40 local 106, 117 & 103 or visit Pag-IBIG Fund’s Office at St. Francis Center, Araneta St., Singcang, Bacolod City, the press release said.*

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