QuestionsQuestions (EXECUTIVE ORDER NO. 935)
It amends Section 5(a) of Executive Order No. 857 by changing the acceptable documents/proof to show compliance with the mandatory remittance requirement of OFWs.
Executive Order No. 935 amends Section 5(a) of Executive Order No. 857.
Seventy percent (70%).
It required submission of a confirmed Bank (foreign) remittance form; otherwise, the worker could be suspended or excluded from the list of eligible workers for overseas employment.
Proof of actual remittance and surrender for pesos through the Philippine banking system may be shown through specified documents or approved alternatives, rather than only a confirmed bank (foreign) remittance form.
A bank receipt evidencing the actual conversion of foreign exchange earnings into pesos in the Philippines.
That the contract worker actually effected the remittance and caused surrender of the proceeds for pesos through the Philippine banking system.
The Central Bank of the Philippines.
Workers could be suspended or excluded from the list of eligible workers for overseas employment.
By focusing proof on actual remittance and surrender through the Philippine banking system, and allowing alternative proofs approved by the Central Bank.
Those parts are deemed amended, repealed, or modified accordingly.
It takes effect immediately.
Remittance compliance includes causing the surrender of foreign exchange for pesos through the Philippine banking system.
It may no longer be the sole proof; EO 935 expands acceptable proof to other documents and alternatives approved by the Central Bank, while still requiring actual remittance and surrender through the banking system.