Friday, 11 December 2009 00:00 [ manilatimes.net ]
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HOME Development Mutual Fund (Pag-IBIG Fund) warned employers that have yet to register with it, or have failed to collect contributions from their employees or remit the same to the agency, to comply with the law by the end of this month.
“[December 29] is the last day to apply for the Penalty Condonation Program that saves delinquent employers from paying penalties on all uncollected and unremitted contributions,” Vice President Noli de Castro, who is also Pag-IBIG chairman, said in a statement.
The agency said there would be no extension of the program that was launched in June this year.
After December 31, delinquent employers who have not registered with the Fund, have applied for penalty condonation but failed to comply with the terms, or continue to refuse to collect and/or remit contributions to Pag-IBIG would continue to incur penalties on unremitted contributions. They would also be held criminally liable and prosecuted in accordance with the penal provisions of Presidential Decree 1752.
The condonation program is open to employers who have not registered with the Fund, those whose applications for waiver from coverage were denied but who failed to register, and companies that are duly registered but did not collect employee contributions and did not remit the employer counterpart.
Jaime Fabiana, Pag-IBIG chief executive officer, said eligible employers should have all penalty charges condoned, provided the total obligations are remitted within 30 days from the approval of application.
“Those employers who cannot pay in full may submit a plan of payment for approval by the Fund,” he said.
LAILANY P. GOMEZ
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