Finance

MPF Contribution Explained for the Employer and the Employee

Both the employers and the employees would be required to make regular mandatory provident fund hong kong of 5%. It would be the percentage of the relevant income of the employees to the MPF scheme. However, the contribution would be subjected to the minimum and maximum relevant income levels. It would be pertinent to mention here that for a monthly-paid employee, the minimum and maximum relevant income levels have been $7100 and $30000 respectively.

For less than $7100, the employer portion would be 5% with no contribution required from the employee. Between $7000 and $30000, both the employer and the employee would contribute 5% of the relevant income. For contribution more than $30000, both the employer and the employee would make $1500 contribution respectively.

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