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
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.
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