January 16, 1998 – DO 3, s. 1998 – Amendment and Addendum to DECS Order No. 97 s. 1992 (Establishment of the DECS Provident Fund)
January 16, 1998
DO 3, s. 1998
Amendment and Addendum to DECS Order No. 97 s. 1992 (Establishment of the DECS Provident Fund)
To: Undersecretaries
Assistant Secretaries
Bureau Directors
Directors of Services / Centers and Heads of Units
Schools Superintendents
1. Pursuant to Resolution No. 01, s.1998 of the DECS Provident Fund National Board of Trustees, the following are being issued as an amendment and an addendum to the inclosure to DECS Order No. 97, s. 1992 :
1.1 The amount of loan which maybe availed of for the purposes mentioned in Section 4, Article X of the implementing guidelines for the DECS Provident Fund is P5,000.00. the loan shall have an interest rate of six percent (6) per annum and shall be payable in twelve (12) equal monthly installments.
1.2 Calamity loans shall be granted in the amount of P8,000.00 to DECS officials and employees in provinces and areas which have been declared under the state of calamity by the President of the Republic of the Philippines. The loan may be granted within six (6) months after the declaration of state of calamity. The loan shall have an interest rate of six percent (6%) per annum and shall be payable through automatic salary deduction in twenty-four (24) equal month installments.
2. Immediate and widest dissemination of this Order is enjoined.
RICARDO T. GLORIA
Secretary
Reference: DECS Order: (No. 97, s. 1992)
Allotment: 1—(D.O. 50-97)
To be indicated in the Perpetual Index
under the following subjects:
CHANGE
EMPLOYEES
FUNDS
TEACHERS