Payroll and MPF Services

Payroll Service

Whether you run small/medium-sized, multinational, new start up or established companies, employees are the most valuable assets of your company. Companies should establish a stable payroll system for their employees. Cash, cheque and Auto Pay are the three main methods most companies use to pay salaries to their employees, and Auto Pay is the most favoured method.

Our accounting & payroll outsourcing team can assist companies establish the auto payroll system in different banks. Companies may enjoy smooth and efficient services in Human Resources by using our Payroll System Support Service.

Failure to pay wages

If wages are not paid within one month after they become due, an employee may deem his contract of employment to be terminated by his employer without notice and is entitled to wages in lieu of notice in addition to other statutory and contractual termination payment.

Somting you need to know on employment matters

According to the Employment Ordinance, Chapter 57: Payment of Wages, wages shall be paid by the last day of the wage period. An employer who exceeds this period should pay the wage to employees as soon as practicable but in any case not later than seven days after the end of the wage period. An employer is required to pay an interest on the outstanding amount of wages to the employee, if he fails to pay the wage to the employee within seven days when it becomes due.

Offences and penalties

An employer, who willfully or without a reasonable excuse fails to pay wages to an employee, is liable to prosecution and upon conviction to a fine up to $350,000 or to imprisonment for three years. An employer who willfully or without a reasonable excuse fails to pay an interest on the outstanding amount of wages to the employee is liable to prosecution and, upon conviction, to a fine of $10,000.

Process flow of our service

  • Discussion for Company Payroll Matters
  • Sign Application Documents
  • Payroll System Bank Account Opening Arrangement(if any)
  • Mandatory Provident Fund Account Opening Arrangement(if any)
  • Finish

Our payroll system service includes:

  • Calculation of the employees’ wage payment
  • Prepare payroll slips to employees
  • Salaries of management accounts
  • Handle salaries and pensions of employer’s return
  • Handle matters for the company owner MPF (MPF), such as registration and renewal of MPF

MPF (The Mandatory Provident Fund)

In response to the World Bank publishing its report on the protection of the elderly and its policies to promote growth in 1994, Hong Kong began to develop “the Mandatory Provident Fund Schemes Ordinance” in 1995 and began the implementation of the MPF system in 2000 in order to safeguard public retirement.

LIK TIN Group’s MPF Arrangement Service Feature

  • Contribution Calculation
  • Proof of Contribution
  • Assisting for opening a MPF account
  • Documents Preparation related to MPF
Monthly IncomeEmployer MandatoryEmployee Mandatory
Lower than HK$ 7,1005% of relevant Income0
HK$ 7,100 – 29,0005% of Relevant Income5% of Relevant Income
HK$ 30,000 or aboveHK$ 1,500HK$ 1,500

*Both of employer and employee may determine to do voluntary contributions if they want