P.R. Laws tit. 3, § 787g
Any employer that is required to deduct and withhold the contributions of Program Participants and make contributions to the System as provided in §§ 787a—787q of this title shall have the following obligations:
(a) Requirement to deduct and withhold the contributions of program participants and to remit the contributions of the program participants and employer to the System.— Every employer of a Program participant shall deduct and withhold the contributions provided in § 787e of this title from the participant’s compensation. The Secretary of the Treasury or any paymaster of the employer is hereby authorized to make deductions, even if the compensation to be paid in cash to the participant as a result of such deductions is less than any minimum prescribed by law. Contributions of Program participants shall be remitted by the Employer along with the contributions such employer is required to make under § 787f of this title to the System on or before the fifteenth (15th) day of the month following the date on which the withholding was made. The Administrator shall establish the form and manner in which contributions shall be remitted.
(b) Responsibility for contributions.— Every employer required to deduct and withhold the contributions of Program participants and to remit the contributions of Program participants as well as those of the employer as provided in §§ 787a—787q of this title, shall be responsible to the System for the total payment of such contributions. If the employer fails to withhold or remit such contributions, the sums that such employer failed to withhold and the unpaid contributions shall be collected from the employer by the Administrator according to the procedure established in Section 4-111 of this Act.
(c) Interests on contributions owed.— Every employer that fails to remit its contributions and those of the Program participants within the term provided therefor shall be responsible to the System for the payment of interests at a rate to be determined by the Board on the contribution owed, from the day the contribution should have been remitted to the System to the day on which the contribution is remitted. Interests owed by an employer shall be collected by the Administrator according to the procedure established in Section 4-111 of this Act.
(d) Return on investment; credit.— If an employer fails to remit the contributions of Program participants within the term provided therefor, the Administrator shall credit the return on investment to the account of the affected Program participant, as provided in § 787h of this title, as of the employer’s deadline to remit such contributions.
History —May 15, 1951, No. 447, p. 1298, added as § 5-107 on Apr. 4, 2013, No. 3, § 21, eff. July 1, 2013.