Unremitted Pag-IBIG contributions and loan amortizations at year-end
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe Department withheld money from employees' salaries for Pag-IBIG savings and loan payments but did not send all of it to Pag-IBIG on time. Over 18 million pesos was still unpaid at the end of the year, and more than 12 million remains unresolved, which could hurt employees' benefits and incur penalties.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"out of the total contributions and loan amortizations of P511,343,096.87 withheld or deducted from the salaries and wages of DPWH officials and employees, the amount of P492,935,810.82 or 96.40 percent thereof, was remitted during the year, leaving an unremitted balance of P 18,407,286.05 or 3.60 percent, as at year-end. Subsequently, the portion of the remaining unremitted balance in the amount of P5,668,839.52 was remitted to Pag -IBIG in the first quarter of CY 2025, leaving a bala nce of P12,738,446.53, which is subject to reconciliation, verification, adjustment and/or further remittance."