Calculating remuneration in Hong Kong
Payroll in Hong Kong is important for any company incorporated in the city. Payroll includes all the wages paid to an employee during his or her time at that company. This activity is essential for managing an employee’s payment and it includes the financial records of salaries, any bonuses and deductions.
A company in Hong Kong
can choose to deal with the employee’s salaries internally or outsource payroll
to another company that offers professional services. Our Hong Kong company formation agents
can help you with payroll services
for your company.
The basics of payroll in Hong Kong
Hong Kong has a relatively simple payroll system
. The employee remuneration package is decided by the company and there are a few taxes in Hong Kong
that need to be considered when doing so. The mandatory social contribution is one of them.
The remuneration of an employee in Hong Kong
is calculated by taking into consideration the basic monthly salary
to which bonuses can be added or leave days can be deducted. Car allowances
, holiday payments
and other allowances must also be considered.
Payroll services for companies in Hong Kong
Our experts in Hong Kong can provide various payroll services for your company. We can help you with the following:
- the gross/net pay for employees, monthly payroll calculations;
- electronic payment transfer to employees;
- social security contributions calculations;
- taking care of the formalities required by the Inland Revenue Department for new employees;
- the mandatory insurance packages for your workers;
- annual employer’s return;
- enrolling in the Mandatory Provident Fund (MPF) – private pension for employees who work more than 60 days.
If you are interested in company formation in Hong Kong we can also help you with information about company registration and staffing. Our partner lawyers in Hong Kong
can help you with legal services for concluding employment contracts.