Companies, wherever they are based, must pay the salaries of their employees in a timely manner. They must also ensure compliance with tax and social security obligations in respect of withholding, calculations and reporting. Every country’s employment and tax system is different.
The Employment Ordinance covers all employees – full-time, temporary, or part-time – and provides broad rights and protections in respect of contract terms, statutory holidays, Mandatory Provident Fund (MPF) payments, sick and maternity leave, and severance and long-service payments.
Employers in Hong Kong must ensure that they keep proper records for each employee’s wage and employment history, and all accounting and payroll records must be kept for at least seven years. Companies need to report remuneration paid to employees on an annual basis.
Sovereign offers a comprehensive, yet flexible, outsourced payroll and HR service in Hong Kong that is tailored to each client’s specific requirements. Regardless of the scale of your outsourcing needs, Sovereign can serve as your trusted partner. We will ensure that payments are made accurately and on time, while maintaining a very high level of compliance and security.
We can run your payroll, provide full reporting, send payslips out for you and ensure that everyone in your company is paid correctly and on time. Payroll processing will manage your monthly payroll with efficiency, saving you time and making your financial responsibilities that much easier.