By U.S. News Agency / Asian

The Social Security System is offering a condonation program for unremitted or delinquent loan amortizations of employees and employers.

Information officer Primitivo Verania of the Dagupan City branch said the program, which started on January 3 and will last until June 30, applies only to penalties on unremitted or delinquent loan amortizations including principal and interest due on or before April 1, 2010.

“Employees have the right to enjoy the benefits and loan privileges of SSS and at the same time, employers are duty bound to protect their employees and provide social security benefits to them as provided by law,” Verania said.

To avail of the program, employers must be updated in the payments of their employees’ contributions. Employers who are delinquent in the payment of their SSS contributions must first settle in full or through outright payment, or submission of an installment proposal, he added.

Upon remittance of the delinquent loan amortizations in full or approval of the installment proposal, both the employers and employees can avail of the benefits such as: update of the employer’s loan record; restoration of the short- term member loan privileges of the employees, subject to guidelines, and; full enjoyment of employees’ SSS benefits in times of contingencies.

Those qualified to avail of the amnesty program are employers who are delinquent in the remittance of their employee’s loan amortizations; those with pending or approved installment proposal under the Installment Payment scheme of the SSS; those with applications under the program for Acceptance of Properties; those with pending cases before the Social Security Commission, Courts or the office of the Prosecutor, and; employers of employees with delinquent loans granted under the current or previous employers or whose loans were granted as self-employed/voluntary -paying members.

Verania urged employers to take advantage of the loan amnesty because SSS, he said, will step up the filing of cases against employers who remain delinquent after the amnesty period.