Monthly payroll can present a daunting challenge to start-up companies that have limited human resources. Global organizations are also facing growing challenges, both internally and externally.
Employees need to be paid accurately and timely within 7 days from the day when the wages become due. Offenders, upon conviction, are subjected to a maximum fine of HK$350,000 and to imprisonment for three years.
Moreover, there are various returns and notification forms required for submission to the Salaries Tax Section of the Inland Revenue Department when new employees were hired or existing employees were terminated.
Payroll calculation are further complicated due to
- Mandatory Provident Fund contributions
- statutory minimun wage
- 12-month average wages for the calculation of relevant statutory entitlements
- changing regulatory requirements
Where we can assist you
We save our clients, particularly those with small number of employees, from hiring full-time HR professionals by the following tailored payroll services:
Employment contract
Prepare a draft employment contract based on the Hong Kong labour laws .
Work Visa
Assist in application for work visa for expatriate staff and dependant visa for his/her family members.
Calculation
Administer the payroll process, including calculating the net remuneration of individual employee, pension contribution and termination payments.
Interbank Payments
Effect salary payment swiftly to employees' bank accounts. We can also generate ISO 20022 Payments initiation file such that you can dispatch the payroll payment through your own bank.
Payslip
Issue pay slips to employees in protected PDF format.
MPF
Enroll to a Mandatory Provident Fund ("MPF") scheme.
Attend to MPF and other pension scheme compliance – we can act as a contact person and/or an authorized person.
Tax Filing
Employer’ s return preparation and filing with Inland Revenue Department.
Rental Reimbursement
Set up and administer rental reimbursement schemes.
Reports
Prepare customized payroll reports.
Insurance
Set up the statutory Employees’ Compensation Insurance. Administer other staff related insurance policies (such as the staff medical insurance scheme).
Interfaces to HR system
If your HR system supports REST API , we can pull staff information from your HR system and send back our payroll results to you on a regular and automated basis. We also offer custom REST API such that you can pull data from us.
Special project
Ad hoc advisory.
Payroll health check.
Please feel free to contact us should you be interested in any of our above services.