What are your obligations if you hire staff in Hong Kong?
After you register a Hong Kong company, there are some regulations and common practice in Hong Kong you need to be aware of. For example, MPF enrolment is one of employers’ obligations.
Due to the low birth rates in Hong Kong, the Government has introduced the Mandatory Provident Fund in Hong Kong. Employers and employees are each required to make regular mandatory contributions of 5% of the employee’s relevant income to an MPF scheme for every contribution period. The current minimum and maximum relevant income level are $7,100 and $30,000 per month respectively.
Find out whether you should participate in the MPF System
In general, for employees who has an employment visa which does not exceed 12 months or the person is a member of a provident or retirement fund overseas, he or she is exempt from enrolling into the scheme. Contact us today at firstname.lastname@example.org for details.