Home Development Mutual Fund (HDMF) or popularly known as PAGIBIG Fund postpones or defers the premium rate increase of its members this 2023. Employees may expect the additional P100 contribution, which will be equally shared by the employee and employer in 2024, per PAGIBIG Chief Executive Officer Marilene C. Acosta.
HMDF Circular No. 274 on the REVISED GUIDELINES ON Pag-IBIG FUND MEMBERSHIP
MEMBERSHIP CONTRIBUTIONS
PAGIBIG monthly premium rate is set at 4% which is divided into 2% employee share and 2% employer share. With this, Pag-IBIG contribution is pegged at Php100 per month as the maximum monthly compensation of an employee shall be not more than Php5,000. Employed members can immediately double their monthly savings because of the counterpart share of their employers.
Employee may contribute more than what is required whereas the employer is not mandated to do so. It is the employer’s prerogative to match the increased contribution of the employee.
SCHEDULE OF REMITTANCE
The corresponding penalty for failure to pay or remit the contributions will be equivalent to 1/10 of 1% per day of delay of the amount due starting on the first day immediately following the due date until the date of full settlement.
In AanyaHR, PAGIBIG contribution tables are readily available, and any changes are easily updated. Government-mandated reports are even at a few clicks. Want to know more about other helpful and awesome features of AanyaHR, please send an email to customerfirst@illimitado.com or visit our website
Source: HDMF/PAGIBIG
A fund defers premium refers to the practice of delaying the payment of a premium amount until a later time, typically in the context of insurance or investment products. This can occur when the policyholder or investor has the option to postpone paying premiums until a certain condition is met or a specific time frame arrives. Such flexibility can be beneficial, as it allows individuals to manage their cash flow more effectively, especially in uncertain financial situations. The possibility of utilizing this option could be seen in various scenarios, including retirement planning or long-term investment strategies, where policyholders may choose to defer their premiums until a more favorable time. For example, with reference to plans related to the str 2025,…