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The Legislative Council has passed the MPF legislative amendments which include 2 major amendments: First, housing allowance will be included in relevant income for calculating MPF contributions. Second, the 30-day settlement period for contributions will be removed. Employers will have to make contributions on or before the 10th day of each month or else will be subject to surcharge and may be prosecuted. The above 2 amendments will come into effect on 1 November 2008.
To facilitate employers and employees to understand more about the changes, please find the relevant leaflets from MPFA.
For more details, please visit MPFA website, www.mpfa.org.hk.
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