Employers

You should notify us within 30 days for the change of company name. Please complete an Change of Employer Details Form (Download IN05 form) and provide a copy of valid Business Registration Certificate and/or Certificate of Incorporation on Change of Name and/or other relevant registration documents.

If my company moves, what should I do?

You should inform us of your company's new address and any changes in telephone and facsimile numbers, etc within 30 days of the change. Please complete an Change of Employer Details Form. Download IN05 form

My company's human resources manager left company.What sould I do if I need to change the authorised person?

Complete an Authorised Signatures Specimen form. Download INY1 form

If you need to change the contact person for future correspondence as a result of this movement, please also complete an Change of Employer Details Form. Download IN05 form

On the Authorised Signature Specimen from,what do contribution payments,benefit payments and reserve account fund switching mean?

• Contribution payments mean submitting a Remittance Statement and reporting employee termination.
• Benefit payments mean approving employee's partial withdrawal request (where employer's approval is required due to contractual arrangements) and supporting documents for claim.
• Reserve account fund switching is only applicable if your MPF scheme has employer's voluntary contributions or ORSO transfers. It refers to changing the investments of your reserve account, which holds unvested benefits.

We will refund the remaining balance, if any, in respect of the employer such as overpayment and/or unvested balance kept under the scheme after the employer notifies us about the cessation of business and terminate participation in HSBC MPF scheme. Therefore, please ensure your company’s relevant bank account is still active in order to bank in our refund cheque (if any).   Moreover, we may follow up with you to process your company’s request or send the refund cheque (if any) to you, so please ensure your company’s address, contact number or other contact information etc. with us is up to date until the scheme is closed.

If I fail to pay MPF mandatory contributions in full on time,what is the consequence?

The MPF legislation requires employers to pay mandatory contributions in full on or before the contribution day. If you fail to pay mandatory contributions in full and submit completed remittance statement by the contribution day, we are required by law to report any outstanding contributions or late payment to the Mandatory Provident Fund Schemes Authority (MPFA). Contribution surcharge will then be imposed and the employer may also be liable to a financial penalty or prosecution. Therefore, please be reminded to pay mandatory contributions in full and on time to avoid any surcharge and/or financial penalties.

Please allow sufficient mailing time to ensure we will receive your completed remittance statement and payment on time. To enjoy a more effective way to submit contributions, you may explore a number of electronic methods of handling MPF contributions for your employees by click here.

If I fail to pay mandatory contributions in full on time ,am I liable to contribution surcharge only until I have received the 'Payment Notice for Outstanding Mandatory Provident Fund Contributions and Surcharge' from thr MPFA?

The MPF legislation requires employers to pay mandatory contribution in full on or before the contribution day. Trustees will have to report late and default contribution details to the MPFA and the employer may be liable to financial penalty or prosecution. All outstanding contribution and late payment will be subject to surcharge even without receiving the 'Payment Notice for Outstanding Mandatory Provident Fund Contributions and Surcharge' from the MPFA.

Is there any cut-off time for the submission of contribution payments and Remittance Statement through HSBC's Business Internet Banking?

If you submit the Remittance Statement before 5pm (Monday to Friday except public holiday), you can submit the contribution payment on the current day by setting the current day as the 'Earliest Direct Debit Date' through HSBC's Business Internet Banking (BIB). If you submit the Remittance Statement between 5pm to 11:59pm (Monday to Friday except public holiday), you can only submit the contribution payment by setting the next working day or the working day thereafter as the 'Earliest Direct Debit Date'. Please note that if you submit the Remittance Statement between 5pm to 11:59pm on the contribution day and set the next working day as the 'Earliest Direct Debit Date', we will still regard the Remittance Statement is submitted on the contribution day.

If I do not have sufficient fund in the designated bank account for cheque clearance or debiting, what is the consequence?

The MPF legislation requires employers to pay mandatory contributions in full on or before the contribution day. If you fail to pay mandatory contributions in full by the contribution day, we are required by law to report any outstanding contributions or late payment to the Mandatory Provident Fund Schemes Authority (MPFA). Please ensure that you have sufficient funds in your designated bank account for cheque clearance or debiting to avoid any surcharge and/or financial penalties.

If the exact date of birth is not displayed on an employee's HKID card, until when am I required to make MPF contributions for him/her?

If there is no exact date of birth displayed on the employee's HKID card, you are required to make MPF contributions for him/her up to 31 December of the year in which he/she reaches the age of 65.

When to report the back payments to my employee as relevant income and make the corresponding mandatory contributions?

Back payments (eg payments relating to an earlier period perhaps arising from a salary adjustment or a time lag between the ascertainment and payment of commissions, tips or bonuses) to a relevant employee are not relevant income, in general, until the contribution period in which the back payment is ascertained and paid. For example, the back payments is ascertained and paid to your employee in July of a year, you are required to report the back payments as part of the relevant income and make the corresponding mandatory contributions in the contribution period of July of that year.

You can refer to the Guidelines on Scheme Operations IV.12 'Guidelines on Relevant Income in Respect of a Relevant Employee' issued by Mandatory Provident Fund Schemes Authority for information.

What are some of the misconceptions in handling contributions that I need to pay attention to?

Below are common misconceptions and some proper ways for handling contribution:

We understand employers would like to make MPF contribution simple and flexible. In HSBC MPF, we offer several electronic methods in handling MPF contribution at your convenience. Please feel free to contact our MPF specialists in branch or by contacting HSBC MPF Employer Hotline on 2583 8033 for more details.

How can I make an appeal for the contribution surcharge?

If you wish to object to Payment Notice for Outstanding MPF Contributions and Contribution Surcharge, you must notify the MPFA by submitting a "Contribution Surcharge Objection Form" together with all the relevant supporting documents within 14 days from the date of the notice.

The "Contribution Surcharge Objection Form" can be downloaded from the MPFA's website.

My employees have not completed their three months probationary period. Do I need to enrol them into my MPF scheme?

If your employees have been employed for 60 days, you need to enrol them into an MPF scheme. Their enrolment is not dependent on their probationary period.

Please note that if your employees are casual employees, you will need to enrol them into an MPF scheme within 10 days of employment. If they cease employment within 10 days, you still need to arrange the enrolment and make contributions for the days worked.

If an employee is recruited on a one-year contract basis, do I need enrol him/her into MPF?

Yes. Contract basis employees are not exempt from MPF, unless they belong to one of the categories of exempt persons defined under the MPF legislation.

If a person is employed by two companies, does he/she need to contribute for both employment?

Yes. He/She needs to join the two companies' MPF schemes and make contributions for each employment respectively.

Is it necessary for me to sign the Employee Application From?

You are required to confirm the accuracy and completeness of the enrolment information by signing in the designated area(s) on the Employee Application Form or by submitting the Employee Application Form in such manner as the approved trustee may require. If you are not an individual, the form has to be signed by a duly authorised signatory. In the circumstances that an Employee Application Form is not properly completed, trustees may refuse to process the enrolment of the employee(s) concerned. Please be reminded that an authorised signatory is required to sign the Employee Application Form, a company chop only is not accepted in lieu of such.

What are the consequences if my employee forgot to sign his/her Employee Application From?

Employee's signature on the Employee Application Form will be used as the specimen record of the employee's MPF account. In any occasion that we do not have the specimen record but receive any written instruction from the employee, we have to follow up with him/her for verification before the processing of his/her instruction. A delay may occur as a result. Please remind your employees to read and check through all the information on the Employee Application Form and then sign the 'Declaration and authorisation' in member section in order to facilitate the processing of their instructions in future.

What should I do if an employee does not possess a Hong Kong Identity Card?

Generally, the Hong Kong Identity Card number is used as the identification number of an MPF account. If your employee does not possess a Hong Kong Identity Card, he/she should provide the Passport number as an alternative. When you handle the MPF administrative issues (such as reporting and payment of MPF contributions, reporting termination details, handling severance payments or long service payments) for your employees, please provide the identification number which is the same as the one registered in our records. Please note that, using a non-registered identification number for any instruction for an MPF account may result in unnecessary error or delay in processing. If there is any update on the identification number, please provide written notice together with copy of relevant supporting documents to us for processing.

For the purpose in arranging the enrolment for your employees, if the 60th day of an employee's employment fall on a Saturday, a public holiday, a gale warning day or a black rainstorm warning day, when is the last date of the 60-day permitted period?

When the 60th day of the employee's employment falls on a Saturday, a public holiday, a gale warning day or a black rainstorm warning day, the last date of the 60-day permitted period will be postponed to the following day which is not a Saturday, a public holiday, a gale warning day or a black rainstorm warning day.

Is it a must for a new employee to choose the Default Investment Strategy ('DIS') when he/she sets up a new account?

No. New employees can choose to invest his/her new contributions and accrued benefits transferred from another registered scheme to (1) DIS or (2) One or more constituent funds of his/her own choice from the list under the employee application form. DIS will only be a default investment arrangement to employees who set up a new MPF account without providing a valid investment choice.

Where should I submit the MPF forms and documents?

There are two authorised channels for submission of MPF forms and documents:

(1) By mail to the administrator of HSBC MPF schemes: 
HSBC Life (International) Limited 
PO Box 73770 Kowloon Central Post

(2) Or placing your MPF forms and documents to 'HSBC MPF Drop-in Box' at designated HSBC branches.Please click here for the latest list of designated branches with 'HSBC MPF Drop-In Box'.

Can I submit the MPF forms and documents to an HSBC branch?

Yes. You can submit your MPF forms and documents to designated branches with MPF drop-in box. Please click here to view the list of branches with MPF drop-in box.

CAUTIONS

Please be aware that employers should NOT hand in any MPF documents (in particular for those paper remittance statement and cheque payment (if any) which must be submitted on time according to the MPF legislation) to unauthorised channels. Unauthorised channels include but not limited to:

(1) the staff at service counters at the branches, 
(2) the branches without 'HSBC MPF Drop-In Box', or 
(3) other collection boxes in the branches (for examples, the collection boxes for cheque payment).

Any submission of the MPF documents to unauthorised channels will not be forwarded to the MPF department for processing directly and it may take a longer time for the documents to be transferred to the MPF department. While the receipt date by the MPF department will be stamped only when the documents reach the MPF department, employers and/or self-employed persons please be cautious that this will result in delay in receiving and processing the paper remittance statement or other instructions by the MPF department. Any failure to pay mandatory contributions in full and on time to a trustee incurs a 5% surcharge on the outstanding mandatory contributions, along with the possibility of a financial penalty and even imprisonment by the MPFA. You may refer to the MPFA's website www.mpfa.org.hk for further details of offences and penalties.

Should I include payment in lieu of notice as relevant income when I calculate the last contributions?

No. Payment in lieu of notice is made as a compensation for employment termination rather than a consideration of services rendered. It is therefore not treated as relevant income for MPF purposes. More information about the definition of relevant income.

Will other forms of Long Service Payment or Severance Payment (LSP/SP) supporting document be accepted?

Yes. However, please note that all information as shown on the INLS form must be included in your supporting documentation for your refund request to be processed.

Do I need to pay Long Service Payment or Severance Payment to my employees?

You may visit the Labour Department's website for information about the Labour Legislation (Employment Ordinance).

How should I calculate Long Service Payment or Severance Payment?

You may visit the Labour Department's website for information about the Labour Legislation (Employment Ordinance).

My company has dismissed an employee. Should I report the termination code as 'DS - Summary dismissal'?

'DS' is regarded as dismissal with cause, ie dismissal without notice or payment in lieu of notice if an employee, in relation to his/her employment:

• willfully disobeys a lawful and reasonable order,
• misconducts himself/herself,
• is guilty of fraud and dishonesty, or
• is habitually neglectful in his/her duties.

If an employee's employment is terminated due to DS, the employee will not be entitled to any employer's voluntary contributions and employer's ORSO transfers.

However, if the employee is dismissed not with cause as above, you should use the termination code 'WB - Resignation'.

How can I report an amendment to the employee termination that was recently reported via our Remittance Statement?

Please call our hotline on (852) 2583 8033 for assistance.

How can I request a refund of unvested benefits?

Please send us a written request which is signed by an authorised person of your company.

When should I make the last mandatory contribution for an employee who ceases employment?

Whenever an employee ceases employment, you are responsible to make the last mandatory contribution for the terminated employee timely:

Non-casual employees - By the 10th day of the calendar month following the month in which employment is terminated.
Casual employees in Master Trust Schemes - regardless of payroll cycle, the last contributions should be fully paid on or before the 10th day after the date of cessation of employment of the casual employee.

When should I report an employee's termination details?

Whenever an employee leaves a company, it is your responsibility to report the termination details to us timely:

Non-casual employees - By the 10th day of the calendar month following the month in which employment is terminated
Casual employees in Master Trust Schemes - Within 30 days after the last day of employment

If I report the termination of an employee on time, what is the advantage?

Timely and proper reporting of termination of an employee to the trustee is very important. It may save time on the necessary follow-up actions that involved for the below administrative processes and avoid report of default contributions to the MPFA:

• Refund of Long Service Payment or Severance Payment from MPF account of the employee;
• Calculation of vested benefit of accrued benefit derived from the employer voluntary contribution in respect of the member for the refund of any unvested benefit to employer and/or payment of vested benefit to employee;
• Request for transfer or claim of accrued benefits from the employee.

Therefore, if there are any records of any terminated employee still being found on the latest remittance statement, you should provide the relevant employee's termination details to us as soon as possible for updating their records.

How could I report employee termination details to HSBC MPF?

You are responsible to make the last mandatory contributions and report the termination details of your employees who cease employment on time. You can report an employee's termination via the relevant section in the Remittance Statement. Termination details of existing employees should be reported in 'Termination Details' under the 'Existing Employees Section'. If the records of the employees concerned are not yet shown in the Remittance Statement, you can fill in the termination details on 'Termination details' section under the 'New Employees Section'.