PH- Pag-ibig
- Janette Ilunio
Home Development Mutual Fund (HDMF), more popularly known as the Pag-IBIG Fund, was an answer to the need for a national savings program and affordable shelter financing for Filipino workers. The Fund was established on 11 June 1978 by virtue of Presidential Decree No. 1530 primarily to address these two basic yet equally important needs. Under the said law, there were two agencies that administered the Fund.
Instructions
Pag-ibig Contribution table - Employee and Employer’s share in 2024.
Monthly compensation | Employee share | Employer share |
|---|---|---|
At least P1,000.00 to P1,500.00 | 1% | 2% |
More than P1,500 | 2% | 2% |
It’s worth noting that the maximum amount for both the employee and employer share was P100 in 2023. This applied to monthly compensation of up to P5,000.
The 2024 premium hike in 2023 will result in a maximum contribution of P200 for the member and another P200 to the maximum of P10,000 in January 2024.
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Related articles
2024 Guidelines on Pag-IBIG funds.
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