FAQ – Payroll Outsourcing

Accurate and on-time salary payment and Mandatory Provident Fund (MPF) contribution is an important obligation required by law.  This always means tedious and time / effort consuming administrative work.  Besides, it often poses to businesses substantial distraction in resources and work focus.  We understand start-ups and small & medium enterprises (SME) are commonly constrained by administrative resources and a dynamic workforce.  Sustained statutory compliance for payroll processing is particularly challenging to them.  Outsourcing to professional payroll services providers is an excellent solution allowing companies to focus on core business.  At the same time, all routine or ad-hoc administrative works are well taken care of.  Such include compensation and MPF calculation and payroll/MPF administration concerning staff appointment & termination. Services may also cover statements/returns to the authorities and MPF trustees, and much more.

You should understand your internal HR resources such as the team’s strength versus size of your company’s workforce.  Also important is your HR staff’s practical experience and familiarity with local tax and labour laws.  Besides, you need to consider whether your company’s payroll contains sensitive information of individual staff.  It is possible that you prefer outside professionals rather than internal colleagues to handle your sensitive payroll.

Fastlane HR provides a full spectrum of top-quality professional Payroll Services.  We can save you from undue distraction from your business with our tailored outsourcing payroll services to meet your needs.  Below is the typical scope of our services.

• Payroll Calculation on Total Compensation.
• Salary Payment Arrangement.
• Employee Expense Reimbursement.
• MPF Contribution Calculation for Employer and Employees.
• Payslip Creation and Distribution.
• Monthly Payroll Reports.

Employees and employers have to make monthly contribution to MPF schemes as required by law.  This adds extra complication and administrative burden to payroll calculation with monthly MPF contribution and reporting. It becomes worse when, say, monthly salaries are worked out under a complex incentive structure.  Another example is when some qualified pension schemes co-exist with the company’s MPF scheme. 

Let Fastlane HR save you the hassle with our comprehensive MPF administration services.  Below are among our service scope.

• Act as your authorized signatory to deal with all MPF-related parties.
• Provide you with monthly executive summary on your MPF activities.
• Prepare monthly Hong Kong MPF remittance statement for your MPF trustee.
• Arrange for enrolment to and termination from MPF scheme when you have staff turnover.
• Take care of monthly contribution and respective reporting.

Today’s cloud-based HR solutions offer great flexibility, efficiency and precision in handling tedious tasks.  Processing of payroll, MPF, leave management, employees’ compensation, and much more, can benefit from its distinct advantages. 

Counting on Fastlane HR, you can leverage our in-depth knowledge in payroll and MPF regulations and experience supporting businesses of all sizes.   What’s more, you also benefit from the unique edge offered by our cloud-based platforms.  Everything you want to know is always handily available at your fingertips, just a few clicks or taps away.