The Department of Labor and Employment (DOLE) remitted excess verification funds amounting to P331.686 million to the Bureau of Treasury (BTr).
DOLE’s Financial and Management Service Director Warren Miclat said the amount remitted to the national treasury represented the excess verification fees and interest collected by the Philippine Overseas Labor Offices (POLOs) for 2015.
The collection of verification fee, which is being implemented by the POLOs, serves as the service fee for the verification of overseas employment contracts presented by prospective employer, principal or employment agency in the host country and/or their authorized representative before the same can be authenticated by the Department of Foreign Affairs (DFA) authorized official in the embassy.
Among the documents being verified by the POLOs, which costs US $ 10 or equivalent in the local currency for individual, include contract of employment/Master/Model or Pro-Forma contract, proof of visa availability, Job order/Manpower Request, and special power of attorney or other similar documents.
Meanwhile, other documents, such as for Group Service Contract of Employment, Recruitment Agreement/Manning Agreement and other similar contract/agreement or other similar document/s, costs US $ 30 or equivalent in the local currency.
Director Miclat said the POLOs are required to remit their excess verification funds pursuant to Joint Circular No. 3 series of 1999.
The Joint Circular was signed by the DOLE, DFA, Department of Budget Management (DBM), Department of Finance (DoF) and the Commission on Audit (COA).
In 2015, the total amount of remittances the DOLE remitted to the BTr for the 2014 excess verification funds was at P360.41 million.
Excess Verification Fee Collections, as defined in Joint Circular No.3, series of 1999, is the residual collection of verification fee collected by the POLOs for remittance to the BTr after deducting all authorized withdrawals from the Verification Fee Fund and other obligations not exceeding the Advice of Disbursement Limits (ADL) issued by the DOLE Central Office during the year, plus allowable buffer fund equivalent to the first quarter requirements of the POLOs for the ensuing year.
Advice of Disbursement Limits, on the other hand, is the document issued by the DOLE-Central Office to the Office of the Labor Attaché advising it of the maximum
amount it may pay or disburse funds.
END/Tim Laderas with a report from Sheena May Hernandez