APPLICATION FOR PROVIDENT FUND LOAN
Provident Fund Loan defined as a savings scheme consisting of contributions
from both the employees and the employer (in monetary form from membersemployees, in monetary or non-monetary form from the employers) which serve
as a loan facility and provider of supplementary welfare to employees
| Office or Division: | Administrative Services (Provident Fund Division Board Secretariat) | ||||||
| Classification: | Complex | ||||||
| Type of Transaction: | G2G – Government to Government | ||||||
| Who may avail: | All DepEd Aurora Personnel (Regular, COS) | ||||||
| CHECKLIST OF REQUIREMENTS | WHERE TO SECURE | ||||||
| Multi-purpose Loan:
· Loan Application Form (LAF), · Authorization to Deduct · Original latest copy of pay slip of borrower and co-maker · Photocopy of DepEd ID of borrower and co-maker · Approved Appointment (for 1st time borrower/co-terminus employee) documents showing that the co-terminus employee has rendered at least 2 years of service in DepEd |
Provident Fund Division Board Secretariat Provident Fund Division Board Secretariat Employee Borrower Employee Borrower Employee Borrower
|
||||||
| Additional documents for Additional Loan:
· Letter Request noted by AO and approved by SDS · Hospitalization/Medical Expenses/Medical Abstract/Certificate/Prescription/diagnosis, Barangay/LGU |
Employee Borrower Employee Borrower |
||||||
| Additional document for Calamity Loan:
· Certificate/Resolution declaring the borrower’s place under State of Calamity |
Barangay where the borrower is a resident |
||||||
| Service Record | Personnel Unit | ||||||
| CLIENT STEPS | AGENCY ACTION | FEES TO BE PAID | SUBSTANTIVE COMPLIANCE COST | PROCESSING TIME | REQUIRED NO. OF SIGNATURES | PERSON RESPONSIBLE | |
| 1. Obtains and accomplishes PF LAF. | None | None | 10 minutes | Client | |||
| 2. Secures signatures of the Personnel Division and Legal Service for the Certificate of Employment and Credibility portion of the LAF. | None | None | 10 minutes | 2 | Client
Administrative Officer V Legal Officer |
||
| 3. Secures Statement of Account/Certificate of No Provident Fund. | 3.1 Verifies in the records if with existing loan. Prints Statement of Account/Certificate of No Provident Fund. | None | None | 10 minutes |
Accounting Personnel |
||
| 4. Submits accomplished LAF, together with other applicable requirements, to Provident Fund Division Secretariat. | 4.1 Receives duly accomplished LAF. | None | None | 5 minutes | Provident Fund Division Board Secretariat
|
||
| 5. Waits while the requirements are evaluated for completeness.
Provides lacking requirements, if any. |
5.1 Evaluates the LAF and attached requirements for completeness and eligibility of borrowers. Requires submission of lacking requirements if incomplete.
5.2 Returns LAF to borrower if not eligible. |
None | None | 20 minutes | 3 | Provident Fund Division Board Secretariat
Accounting Personnel
Loan Verifier |
|
| 5.3 Computes amount of loan to be granted. | None | None | 5 minutes | 2 | Provident Fund Division Board Secretariat and Board Vice Chairperson | ||
| 5.4 Approves loan application.
5.5 Indorses to Regional Office for loans P100,000 and above. |
None | None | 10 minutes | 2 | Provident Fund Division Board Vice Chairperson and Schools Division Superintendent | ||
| 5.6 Prepares and processes BUR and DV. | None | None | 10 minutes | 3 | Accounting Personnel | ||
| 5.7 Signs the BUR and DV | None | None | 20 minutes | 4 | Provident Fund Division Board Vice Chairperson
Budget Officer
Accountant
Schools Division Superintendent |
||
| 6. Waits for the advice that the check is ready for release. | 6.1 Prepares and approves check. | None | None | 10 minutes | 2 | Cashier
Schools Division Superintendent |
|
| 6.2 Advises borrower if check is ready for release. | None | None | 5 minutes | Cashier | |||
| 7. Receives check. | 7.1 Releases check. | None | None | 5 minutes | Cashier | ||
| Note:
Loans indorsed to the regional office will take more than 1 hour and 40 minutes |
None | None | |||||
| Total: | 2 hours | 18 | |||||
| REMARKS: Which parts are streamlined/ improved. Write in the column provided. | |||||||