Mandatory Provident Fund (MPF): Employer Legal Obligations and Compliance
Mandatory Provident Fund (MPF):
Make sure you look after your staff, and meet your legal obligations
What is “MPF”?
Although Hong Kong has an employer-friendly system, and simple tax and social security (“Mandatory Provident Fund”, or “MPF”) rules, there are monthly and annual deadlines, and there are serious penalties for missing these. It is therefore vital to make sure you have procedures in place to meet the legal obligations.
Primasia’s Mandatory Provident Fund (MPF) Services and Packages
One way to ensure this is to outsource the payroll, tax and Mandatory Provident Fund (MPF) obligations to an outside provider such as Primasia Corporate Services Ltd. who will prepare all necessary documents, reports and filings, and will also remind you in good time to provide the information and to arrange funds.
MPF is HK’s Social Security System
Setting up a payroll or an MPF (mandatory provident fund) scheme for employees can be complex and setting up the MPF scheme late risks penalties. Primasia Corporate Services can arrange this for you,provide the necessary payroll calculation/ MPF filling services, as well as assisting with another legal requirement, Employee Compensation Insurance (“ECI”).
Salary Calculation and Payments
Preparation of Tailored Salary Slips
Preparation of Tailored Salary Slips
Preparation of Tailored Salary Slips
We can tailor this with our online (Xero) or traditional accounting services.
Hong Kong employers also have to make certain reports to the Inland revenue Department of Hong Kong with respect to joiners, leavers and those still in employment at the fiscal year-end (the Employer’s Return).
Contact Our Experts:
Stella Shiu
Head of Company Secretarial
Teresa Tam
Executive Director