The Housing Development Mutual Fund (HDMF) or more commonly known as the PAG-IBIG fund, is a government-owned and controlled corporation with the mandate to provide financing for affordable housing for Filipinos. Just like SSS and PhilHealth, the PAG-IBIG funds requires monthly contributions from its members, but unlike the other two, one has the option to have a fixed amount for the monthly contribution, or a pro-rated amount depending on one's salary.
You can configure the type of payment you wish to follow under the Company tab, under Setup, Profile, then Government Contributions.
HDMF Contribution Option 1: Fixed Deduction of P100 per month
- A fixed amount of P100 per month will be deducted from employees with salaries ranging from minimum wage and above. The total monthly contribution that is debited in your HDMF Contribution is P200 monthly (total of both employee’s and employer’s equal share).
HDMF Contribution Option 2: Follow Pag-IBIG Contribution table
- This computation is just simple. Once you know where your Gross Monthly Salary Range belongs, you simply need to multiply it by the multiplier that corresponds to your monthly basic pay (salary).
- For instance, if your Monthly Basic Pay (Salary) is P12,000, then your HDMF Contribution is computed as P12,000 X 2% = P240 and your employer's counterpart is P12,000 X 2% = P240.The total monthly contribution that debit in your HDMF Contribution is P480 monthly.
For any further concerns or inquiries you may have regarding this, feel free to message us at firstname.lastname@example.org. We look forward to hearing from you.