P.R. Laws tit. 3, § 786-6
Every employer who is bound to deduct and withhold the contributions of the participants of the Program and make contributions to the System pursuant to the provisions of §§ 786-1 through 786-12 of this title, shall have the following obligations:
(a) Obligation to deduct and withhold the contributions of the participants and remit the employer and participants contributions to the System.— Every employer of a participant of the Program shall deduct and withhold the contributions provided in § 786-4 of this title from the salary of the participant. The Secretary of the Treasury, or any paymaster of the employer, is hereby authorized to make the deductions, even if the salary to be paid in cash to the participant as a result of these deductions is reduced to less than any minimum prescribed by law. The contributions of the participants of the Program shall be remitted by the employer along with the employer contributions that the employer is bound to make to the System, on or before the fifteenth day of the month following the date the withholding was made, as provided in § 786-5 of this title. The Administrator shall establish the form and manner that the contributions shall be remitted.
(b) Liability for the contributions.— Every employer that is bound to deduct and withhold the contributions of the participants of the Program and to remit the contributions of the participants and the employer provided in §§ 786-1 through 786-12 of this title, shall be liable to the System for the full payment of said contributions. If the employer should fail to make the deduction or remit the contributions, the sums that should have been withheld and the unpaid contributions shall be collected from the employer by the Administrator, following the procedure established in § 781a of this title.
(c) Interest on indebted contributions.— Every employer who does not remit his/her contributions and those of the participants of the Program within the established term, shall be liable to the System for the payment of interest on the indebted contribution from the day the contribution should have been remitted to the System until the date that the contribution is remitted, at the rate determined by the Board. Interest owed by an employer shall be collected by the Administrator following the procedure established in § 781a of this title.
(d) Crediting of investment yield.— If an employer does not remit the contributions of the participants of the Program within the established term, the Administrator shall credit the investment yield to the account of the participants of the Program affected thereby, as of the date set for the employer to remit the contributions, pursuant to § 786-7(a)(3) of this title.
History —May 15, 1951, No. 447, p. 1298, added as § 3-106 on Sept. 24, 1999, No. 305, § 30.