The Philippines’ largest employer groups, Philippine Chamber of Commerce and Industry, (PCCI) Employers Confederation of the Philippines (ECOP), and the Philippine Exporters Confederation, Inc. (PHILEXPORT), writes to the Home Development Mutual Fund (Pag-IBIG Fund) to seek help in easing the burden of Filipino business owners who were affected by the pandemic by offering a penalty condonation program for businesses who failed to remit their employees’ savings within the past two (2) years.

The group also requested that these business owners applying for a penalty condonation be given a longer payment plan to settle all their outstanding obligations with Pag-IBIG Fund.

While it is also recognized that majority of business owners were affected in the recent years, PCCI, ECOP, and PHILEXPORT also sought Pag-IBIG’s assistance in extending the same condonation program to businesses which may still have outstanding penalties due for payment to Pag-IBIG prior 2020.

The two-year penalty condonation program of Pag-IBIG for financially distressed employers ended on September 11.

 

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