Establishment of the DENR Provident fund
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Establishment of the DENR Provident fund

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Establishment of the DENR Provident fund Establishment of the DENR Provident fund Presentation Transcript

  • ESTABLISHMENT OF THE DENR PROVIDENT FUND SECRETARY RAMON J. P. PAJE EMPLOYEE WELFARE AND BENEFITS PROGRAM “ MAY BUKAS PA SA PROBIDENSYA ”
  • A. LEGAL BASES
    • E.O. No. 641 dated 25 July 2007 “Authorizing the Establishment and Administration of the Provident Fund in the Government.”
    • DBM Budget Circular No. 2008-3 dated 20 June 2008, “Rules, Regulations and Procedure on the Establishment & Administration of the Provident Fund”
  • B. OBJECTIVES
    • Section 2, (E.O. 641)
    • The Provident Fund shall serve as a savings and a credit facility that may cater to employees’ needs and shall provide supplementary welfare benefits from the fund such as:
        • Emergency need
        • Educational needs
        • Hospitalization
        • Minor repair of house
        • (AO 279 dtd 5/5/92)
  • C. POLICIES (Sec. 3, E.O. 641)
      • Membership in the Provident Fund (PF) shall be voluntary
    b. Employee and Employers alike shall share roles in the establishment and administration of the Fund c. Provident Fund shall be managed by a Board of Trustees with equal representation from the employer and employee
  • D. FUNDING SOURCE (Sec. 4, E.O. 641)
      • Members contributions (determined by the Board of Trustees)
      • Initial government agency counterpart contributions in the form of support for reasonable operating expenses, use of agency facilities and equipment.
      • Such other fund source as may be provided by law, and those which the Board of Trustees may thereafter identify as legal, valid and authorized funding source.
  • Other fund sources (Sec. 5.3.3-BC 2008-3)
    • Note: Other options as to funding source
    • MOWEL Fund (conversion into the Provident Fund)
    • Budget Provision during the reprogramming
    • Income form exercise of regulatory functions
    • Gifts
    • Donations
    • Savings generated by the office (Sec. 5.3.2.2 – BC 2008-3)
    • Donations (BC # 2008-3)
    • Proceeds from Fund Raising (BC No. 2008-3)
  • E. ADMINISTRATION/GOVERNANCE (Sec. 3, AO 279 dated 5 May 2002) (Sec. 5.6.1., E.O. 641
    • Board of Trustees
    • Chairperson (Level of USEC)
    • Vice Chairperson – level of ASEC
    • Members – proportionately representing employees from the 1 st , 2 nd and 3 rd level
  • Proposed Members:
    • Director, Financial Management Service
    • Director, Administrative Service
    • President, ACE
    • President, DENREU
    • President, KALIKASAN
    • 2 Regional Executive Directors
    • 1 Regional Director, EMB
    • 1 Regional Director, MGB
    • 2 Second Level Representative
    • 2 First Level Representative
  • F. ACCOUNTING AND AUDITING REQUIREMENTS
    • Keeping of Books of Accounts
    • Operations subject to existing accounting and auditing rules and regulations
    • COA to Audit (E.O. # 641)
  • RECOMMENDATIONS
    • * AUTHORIZE/ORGANIZE THE BOARD OF TRUSTEES (MIX OF MANAGEMENT AND RANK AND FILE) THRU A SPECIAL ORDER TO FORMULATE THE PLANS AND DIRECTIONS OF THE FUND.
    • THANK YOU
    ADMINISTRATIVE SERVICE 7 JULY 2010