Hong Kong MPF
Hong Kong MPF
Mandatory Provident Fund’s (“MPF”) are compulsory retirement schemes / pension funds that are created by the Hong Kong government and are provided by approved private organisations. MPF’s are a key aspect of Hong Kong payroll calculations and are guided by the Mandatory Provident Fund Schemes Ordinance (“MPFSO”).
In accordance with the MPFSO, Hong Kong employees and their employers are required to make monthly contributions to their employee’s MPF scheme, making MPF administration a key component of payroll calculations. Unfortunately, managing all the aspects of MPF administration and various other pension schemes can be time-consuming, especially for those that are not familiar with Hong Kong MPF laws and need to focus their time and energy on the core aspects of running their business. FastLane HR offers a full range of MPF administration services, allowing you to concentrate on what you do best:- Authority to act as the authorized signatory
- Compile a monthly executive summary of your Hong Kong MPF activities
- Provide a monthly Hong Kong MPF remittance statement for the MPF trustee
- Enrollment, termination, and contribution arrangement for all every employee