The Philippine Payroll Software (Payroll Pro) includes PAG-IBIG FUND as part of the government required deductions in its payroll software. Originally called the Home Development Mutual Fund (HDMF), PAG-IBIG was previously under SSS and GSIS so membership is compulsory.
In May 1986 it was temporarily suspended until August 1 of the same year. From this date until December 31, 1986, compulsory membership was resumed. In January 1, 1987 it was made voluntary until December 31, 1994. Through a Presidential Decree issued in June 1994, mandatory membership was returned effective January 1, 1995 and this continues to take effect to this day.
In all those years, the primary purpose of PAG-IBIG is and remains to be that of providing a source of housing fund for all its members.
Contributions are computed as follows:
- For members whose monthly salary is P1,500.00 or below – 1% of the salary
- For members earning more than P1,500.00 a month – 2% of the salary
- For employers – 2% of each employee’s monthly salary regardless of amount
The computations above are also incorporated when you purchase Philippine Payroll Software (Payroll Pro).
VISIT the nearest PAG-IBIG office for further inquiries on member contribution options and on how to avail the services or benefits being offered.
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