Mandatory Provident Fund (MPF)
Employers are required to make the arrangement for both full-time and part-time employees aged between 18-65 and employed for 60 days or more to join a registered MPF scheme. Should the employee change jobs, the contributions can be transferred to the new employer's retirement program.
Mandatory contributions are calculated on the basis of 5% of an employee's relevant income, with the employer matching the employee's contribution. Employers and employees can opt to make extra, voluntary contributions in addition to the mandatory contributions.
It is the employer's obligation to withhold employee MPF contribution, deposit together with the employer MPF contribution to the MPF trustee and provide each employee with a monthly pay-record showing the employee's relevant income and the amount of contribution.
For more details, you may visit The Mandatory Provident Fund Schemes Authority (MPFA) of Hong Kong
Mandatory contributions are calculated on the basis of 5% of an employee's relevant income, with the employer matching the employee's contribution. Employers and employees can opt to make extra, voluntary contributions in addition to the mandatory contributions.
It is the employer's obligation to withhold employee MPF contribution, deposit together with the employer MPF contribution to the MPF trustee and provide each employee with a monthly pay-record showing the employee's relevant income and the amount of contribution.
For more details, you may visit The Mandatory Provident Fund Schemes Authority (MPFA) of Hong Kong
