Pag IBIG Contribution
Pag IBIG Contribution is a saving program for Filipinos through which the people of the Philippines are provided with easy and cheap loans. This program also known as Home Development Mutual Funds (HDMF).
The main purpose of Pag IBIG is to provide loans to Pag IBIG members to buy a house and rebuild it. The repayment period of the loans obtained under this program is more than 30 years but before giving the loan it is assured that the loan is as per the requirement and there is scope for repayment.
Under this program, loans can be obtained for many more purposes. This includes loans for different reasons, cheap and Affordable Housing Program, for future savings, Disaster prevention program, etc. Program members can borrow up to 600,000 pesos.
HOW TO CHECK PAG IBIG CONTRIBUTION
Following are different ways to find out about your participation in Pag IBIG funds:
1)
Through call:
One way to verify your contribution is to call or email the official website. The members of this program are well aware of the involvement.
2)
Online verification:
This is a great way to get information about your contribution from the comfort of your own home. With the use of internet, members can easily get knowledge related to contribution.
3)
Through Facebook page:
Everyone who is not a member of OFW can find out about their contributions through their Facebook page. All those people can get all the information after sending a private message.
4)
Through head office branch:
IBEG members can also get important and comprehensive information about their contribution by visiting the head office.
5)
Via SMS:
Data and records of your contributions can also be retrieved via SMS. This is a very simplest way.
HOW MUCH TO PAY PAG IBIG CONTRIBUTION
The method is that a certain amount is deducted from the salaries of the employees while the employees pay some amount from their share. It is usually necessary to pay 2% monthly. But for maximum participation of IBIG, 5000 PHP has been allocated.
Therefore, it is necessary to pay at least 1000 PHP per month. More money can be contributed. The more money we contribute to heaven, the more we are eligible for the loan amount.
PAG IBIG CONTRIBUTION CALCULATION
There are different ways to calculate different member's contribution. Like: employee, employer, members, subscribers, etc.
To compute how much you have to pay Pag IBIG monthly contribution, we use this formula:
Pag IBIG contribution = Monthly income x contribution rate.
To compute how much you pay as an employee or employer, we use the formula:
Pag IBIG contribution = monthly basic salary x employee's or employer's contribution rate.
PAG IBIG CONTRIBUTION TABLE & SCHEDULE
Pag IBIG Contribution
| Compensation on the basis of month |
Share of Employee |
Share of Employer |
| Less and equal to 1500 |
1% |
2% |
| Greater and equal to 1500 |
2% |
2% |
Pag IBIG Schedule of Payment
| Business name with its first letter |
Last Date |
| A-D |
In a month 10th to 14th day |
| E-L |
In a month 15th to 19th day |
| M-Q |
In a month 20th to 24th day |
| R-Z or 0-9 |
In a month 25th to Last day |