DO 27, s. 2003 – Amendment/Clarification to DECS Order No. 6, s. 2002 (Revised Implementing Guidelines for the DECS Provident Funds)
To : Undersecretaries
Directors of Services/Heads of Units/Centers
- Pursuant to Section 36 of the General Provisions of Republic Act No. 9162, General Appropriation Act of FY 2002 (GAA), DepEd No. 6, s. 2002 dated February 27, 2002 entitled Revised Implementing Guidelines of the DECS Provident Fund, is hereby modified to conform with the intent and meaning of the appropriations act and shall now be read as;”applicant whose monthly net take home pay is less than Three Thousand Pesos (P3000.00) is not eligible to borrow from the Fund”
- Accordingly, Personnel Economic Relief Allowance (PERA), additional compensation adjustment (ACA), clothing allowance, year-end benefits and Productivity Incentive Bonus (PIB) shall be included in the computation for the monthly take home pay of the employee concerned for purposes of availing loans from provident fund. This interpretation is deemed to be in accordance with the provisions of the aforesaid GAA in view of the phrase deductions from salaries, emoluments or other benefits accruing to any government employee.
- Immediate dissemination of and compliance with this Order is directed.
Reference: DepEd Order No. 6, s. 2002
To be indicated in the Perpetual Index Under the following subjects: