DOLE remits P333.5M to national treasury
TOTAL of P333.53 million of excess verification funds has been recently remitted by the Department of Labor and Employment (DOLE) to the Bureau of Treasury (BTr) to cover the year 2015.
In a statement, DOLE Financial and Management Service Director Warren Miclat disclosed that they have already remitted the said amount after they were sent by the Philippine Overseas Labor Offices (POLOs).
“POLOs are required to remit their excess verification funds pursuant to Joint Circular No. 3 series of 1999 signed by the Dole, Department of Foreign Affairs (DFA), Department of Budget Management (DBM), Department of Finance (DoF), and the Commission on Audit (COA),”said Miclat.
The collection of fee by the POLOs are those paid 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 DFA authorized official in the embassy.
Among the documents being verified by the POLOs, which cost US$10 or equivalent in the local currency, 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.
Other documents, such as for Group Service Contract of Employment, Recruitment Agreement/ Manning Agreement and other similar contract/ agreement or other similar document/ s, which costs US$30 or equivalent in the local currency.
Excess Verification Fee Collections, meanwhile, 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.
In 2015, the total amount remitted by the DOLE to the BTr for the year 2014 was at P360.41 million.