Changes to minimum relevant income level for MPF mandatory contributions.
The newly amended minimum relevant income level for MPF mandatory contributions comes into force on 1 November 2013, when the minimum level of relevant income for making MPF mandatory contributions will increase from HK$6,500 to HK$7,100 per month. Employers are required to apply the new level to calculate the mandatory contributions and voluntary contributions (if applicable) for their employees for the contribution periods starting on or after 1 November 2013.
It is important to share details of the amendment with your employees, and make sure they are aware of the them and of the impact on their MPF mandatory contributions. If you over-deduct the amount of employees’ contribution from an employee’s salary under the new level, please be sure to refund the over-deducted amount to your employees immediately.
Please check the MPFA website at www.mpfa.org.hk for the full details of and latest announcements regarding the newly amended minimum relevant income level for MPF mandatory contributions.