Proclamation of the Commander-in-Chief of the Imperial Japanese Forces in the Philippines on System of Forced Savings for All Employees

by Commander-in-Chief of the Imperial Japanese Forces in the Philippines

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SYSTEM OF FORCED SAVINGS FOR ALL EMPLOYEES

With respect to the payment of salaries of employees, all government offices, banks and business firms, for the time being, must on each day of payment deduct from the salary of each employee the amount calculated on the standard mentioned below, and the total of the months so deducted is to be deposited, by the employer, in the banks (including credit associations) and, at the same time, records must be kept of the amount deposited by each respective employee so that the depositor may at any time examine his account.

But the above-mentioned provision does not apply to a person receiving salary less than ₱200 per month.

(1) For monthly salary less than ₱300, ten per cent of the salary must be deposited.

(2) For monthly salary above ₱300 in addition to the amount prescribed by (1) 40 per cent of the sum exceeding ₱300 must be deposited.

(3) If any cash payment of salary exceeds the sum of ₱500 after the above prescribed amounts have been deducted, all the sum in excess of ₱500 must be deposited.

Anyone who violates the above-mentioned provisions will be severely punished in accordance with the Military laws. The enforcement of this proclamation is limited to the City of Greater Manila.

January 23, 1942.