SAN JOSE, Antique, March 16 (PIA) - - The Home Development Mutual Fund, more popularly known as the Pag-IBIG Fund, is calling on employed and self-employed professionals to register or reactivate their membership as provided for under Republic Act 9679, or the Home Development Mutual Fund Law of 2009.
PAGIBIG fund, under the leadership of Chief Executive Officer Rizaldy Acmad P. Moti, reminded all employers, both government and private sectors and even self-employed professionals and other working groups, that under Republic Act No. 9679 membership to the Fund is mandatory for all employees—including their employers—coverable by the Social Security System (SSS) or Government Service Insurance System (GSIS), regardless of status of employment or nature of appointment.
Donald Alton R. Cahilo, Pag-IBIG Fund Branch Head in San Jose de Buenavista Branch, in a press release, emphasized that the coverage of the law took effect on January 1, 2010.
He said that the mentioned sectors are required to register their company and all their employees with the Fund beginning January 1, 2010 or from the start of their business operation.
The monthly contribution will be computed based on monthly compensation of the employee.
For those with monthly compensation of P1,500 and below, the contribution rate will be 1 percent for the employee's share and 2 percent for the employer’s counterpart.
For those with monthly compensation of more than P1,500, the employee's share is 2 percent and employer’s counterpart is also 2 percent. The maximum monthly compensation is P5,000.00 as the basis for the computation of contributions.
Cahilo also said that those inactive employers and members with previous membership records are also encouraged to reactivate their contributions in order for them to continue enjoy the benefits and privileges of what the Fund is giving to its active members.
In spite of the challenges brought about by the COVID-19 pandemic, Pag-IBIG Fund posts P31.18B net income in 2020, with a 5.62 percent and 6.12 percent dividend rates for Regular Savings and MP2 Savings, respectively.
The Fund continues to bring closer its services to all of its stakeholders by opening new branch offices throughout the country, he said.
"For the Province of Antique, our employers and members may visit our Pag-IBIG Fund San Jose de Buenavista Branch located at the 2nd Level of Robinsons Antique," Cahilo said., noting that their office is open from 8 a.m. until 5 p.m. from Monday to Friday.
He stressed that the observance of health and safety protocols standards against COVID-19 during visit is a must. (PAGIBIG Fund/PIA-Antique)
Source: Philippines Information Agency (pia.gov.ph)
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