Payroll and Social Security (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 provides a package of solutions
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
Must be Enrolled
All Hong Kong employees (with limited exemptions) must be enrolled in an approved MPF scheme set up by the employer with a registered MPF service provider.
Monthly Deductions
All Hong Kong employees (with limited exemptions) must be enrolled in an approved MPF scheme set up by the employer with a registered MPF service provider.
Potentially Disastrous
All Hong Kong employees (with limited exemptions) must be enrolled in an approved MPF scheme set up by the employer with a registered MPF service provider.
How We Could Help
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”).
We Handle Payroll and MPF for clients of all sizes, including:
Salary Calculation and Payments
Preparation of Tailored Salary Slips
MPF Calculation
Filing and Settlement
Technologies Assistant
Reports to Hong Kong Government
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).
Primasia assists with all reports in order to avoid penalties for late submission for our clients.
Ad Hoc Employment (HR)
Primasia also advises on ad hoc employment (HR) issues, including preparation and review of employment contracts. In addition, we offer online leave management solutions.
For more information
About payroll calculation and handling, calculation, reporting and settlement of Mandatory Provident Fund (MPF) payments, employment (HR) support and calculation and Statutory Filing, please contact us by:
or make an appointment through the Calendly link on our website.