Remuneration paid to an employee needs to be reported by submitting the annual employer’s return. KAYRO ensures that all obligations are met in this regard and we complete the payroll administration for locally hired staff.
Tasks we can perform for you are:
- Calculation and payment of salary
- Mandatory Provident Fund (MPF) deductions
- Social Security contributions or other required contributions, commission fees, bonuses or other variable payments
- Issuing of individual pay slips to employees
- Payment to the employees’ bank accounts or to the account of the corresponding institution, if we are responsible for managing bank accounts
- Payroll advice
In Hong Kong, it is obligatory to maintain payroll records and keep them for seven years. These records include:
- Basic information
- Monthly salary (can change)
- MPF contributions
- Employment contracts
Like our other services, our payroll service is offered to individually fit your company’s regulations. So we take into account individual payment packages, dates of payment and other regulations, and we can advise companies on how to structure remuneration packages to be more tax efficient for all parties.