The Pag-IBIG Fund Bacolod Branch called on unregistered employers in Bacolod City and Negros Occidental anew to register with Pag-IBIG in compliance with Republic Act 7742.

Data of its Marketing and Enforcement Division show that as of late last year, more than 3,000 local business establishments have remained unregistered with Pag-IBIG. Division head Wilmer Lirazan told the DAILY STAR that they offer reprieve or penalty condonation to the unregistered employers provided that they register and pay their contributions from the start of their operations.

The law on Mandatory Pag-IBIG Membership requires that both the employer and the employee pay two percent of the employee's monthly income as his/her Pag-IBIG contribution.

The Penalty Condonation Program provided by Republic Act 8501 prescribes that all penalties imposed against delinquent employers, including an imprisonment of not more than six years, will be condoned after registration by the delinquent employer of all his coverage employees and remittance of the required contributions retroactive as of the date of coverage.

But if an employer is financially incapable of remitting the required contributions in full, the employer may submit a schedule of payment of how to settle the unremitted contributions which should not be longer than two years to be approved by the Pag-IBIG Fund management.

As of December 2006, Pag-IBIG Bacolod Branch has a total of 97,197 members. These include 53,907 from the private sector; 40,484 government workers; 2,499 self-employed; and 307, overseas workers.

On the nationwide scale, only 10 to 12 percent of the members are housing loan borrowers while about 90 percent are member-savers.*NLG

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