The Pag-IBIG Fund has been an ideal assist to many Filipino staff in offering them with first rate shelters. Whether they work right here within the Philippines or they’re Overseas Filipino Workers, they’ll avail of the short-term loans and home financing program of Pag-IBIG. Purchasing or setting up a home may be fairly costly, however with the help of Pag-IBIG Fund, atypical Filipinos can now afford first rate housing.
Employees are required to make their Pag-IBIG Fund contributions every time they obtain their salaries. Generally, they need not fear concerning the processing of their month-to-month Pag-IBIG Fund contributions as it’s taken care of by the employer as a part of the payroll course of. The Pag-IBIG Fund presents quite a lot of short-term loans, such because the Calamity Loan and the Multi-Purpose Loan, that can be utilized for quite a lot of functions, together with minor residence repairs, capital for small enterprise ventures, instructional bills, funds of utility payments, and different private wants.
If you’re a member of Pag-IBIG, you’re eligible to obtain housing loans and different types of help that may assist make your dream of proudly owning a home come true. However, to just be sure you are correctly certified for the advantages of Pag-IBIG, it’s essential pay no less than 24 month-to-month contributions. This article will give you info on the quantity of month-to-month contribution it’s essential pay, in addition to different necessary particulars relating to your Pag-IBIG contributions. Additionally, you possibly can confirm that your employer is correctly paying your month-to-month contributions by referring to the Pag-IBIG contribution desk out there beneath.
Pag-IBIG Contribution Table for 2023
OFWs, worker, employer and self-employed or voluntary members should take word the most recent Pag-IBIG Contribution Table to be able to remember how a lot you’re paying to Pag-IBIG Fund each month. This up to date desk would be the reference how a lot would be the month-to-month contribution. The traditional cost is P100 following the utmost compensation set to five,000.
|Monthly Compensation||Employee Share||Employer Share|
|₱1,500 and beneath||1%||2%|
How to Compute Pag-IBIG Contributions?
The most Pag-IBIG Contribution month-to-month compensation allowed to compute every worker’s Pag-IBIG contribution is presently set at P5,000. This signifies that the worker and employer will each share P100.
P5,000 * 0.02 = P100
If you’re incomes greater than 5,000 pesos each month, you’re routinely deducted P100 + 100 out of your employer. The mixed quantity serves as a month-to-month contribution to Pag-IBIG.
Pag-IBIG Contributions Land-based OFW
An Overseas Filipino staff (OFWs) whose employers usually are not topic to obligatory protection ought to contribute an quantity equal to 2% of their month-to-month revenue, in accordance with HDMF Circular No. 391. The OFW could choose to pay the employer counterpart of two%. The most month-to-month compensation used to compute the membership financial savings can also be ₱5,000.
What in the event you’re a Self-employed or Voluntary member?
If you’re a self-employed, freelancer, or unemployed however prepared to grow to be a Pag-IBIG member, you possibly can apply as voluntary contributor. The necessary factor you want to remember right here is it’s essential shoulder each worker and employer’s contributions. Since you don’t have an employer in that case, you’ll have to shoulder each the worker share and the employer share. So your most month-to-month contribution as a self-employed or voluntary member is ₱200.
How Pag-IBIG Fund earns cash?
PAG-IBIG (HDMF) is a mutual fund developed to offer inexpensive housing for the Filipinos and on the similar time to generate financial savings for the long run. All the cash you’ll contribute to the HDMF can be pooled and invested to completely different monetary devices often authorities funds or cash markets. These Mutual Fund then will earn revenue from these investments. As a member of the Home Development Mutual Fund, you’re entitled to that revenue.
That’s it everybody! We hope that the Pag-IBIG contribution desk was very helpful and useful to you. If you’ve any additional questions or queries about your Pagibig membership, do not hesitate to get in contact with them. They have a 24/7 hotline quantity (02) 724-4244 or you possibly can fill out their contact kind on their official website. So do not hesitate to succeed in out, they’re all the time right here to assist!