Log on to HSBC Internet Banking

Business Internet Banking

Logon

Find out more

FAQ

Questions: Employers - Change in Company Details

Questions: Employers - Contribution Payment

Questions: Employers - Contribution Surcharge

Questions: Employers - Employee Category

Questions: Employers - Enrolling Employees

Questions: Employers - Making First Mandatory Contributions for New Employees

Questions: Employers - Forms

Questions: Employers - Refund of Long Service Payment or Severance Payment

Questions: Employers - Relevant Income

Questions: Employers - Tax

Questions: Employers - Terminating Employees


Answers: Employers - Change in Company Details

A1: Which one is the Participation Certificate?

It should look like this

Back to top

A2: I cannot find the Participation Certificate issued by the MPFA. What should I enclose with the form for requesting a change of business name?

You can enclose a letter stating that you have lost the Participation Certificate.

Back to top

A3: 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 Employer Change of Details Form. Download IN05 form

Back to top

A4: My company's human resources manager left the company. What should 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 Employer Change of Details Form. Download IN05 form

Back to top

A5: On the Authorised Signature Specimen form, 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.

Back to top

Answers: Employers - Contribution Payment

A1: My company is currently paying contributions by cheque. How can I change to direct debit from my company's bank account?

You will need to complete two forms and submit them together.

For SuperTrust:

For SuperTrust Plus:

For SimpleChoice:

For ValueChoice:

Please note that about two weeks' processing time is required to set up a direct debit authorisation for a bank account with HSBC or Hang Seng Bank, and about a month for other bank accounts. You should therefore continue to pay by cheque until you receive a confirmation notice from us that the direct debit has been set up.

Paying your contributions through direct debit saves you time in writing and checking the payee and total amount for each payment. You simply need to send us your completed Remittance Statements and leave the rest to us.

Back to top

A2: If I would like to change the company's bank account for direct debit, what should I do?

You will need to complete two forms and submit them together.

For SuperTrust:

For SuperTrust Plus:

For SimpleChoice:

For ValueChoice:

You should continue to pay your contributions using the current bank account until you receive a confirmation notice from us that the direct debit for your new designated bank account has been set up.

Back to top

A3: If I fail to make 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 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 be reminded to make mandatory contributions in full and on time to avoid any surcharge and/or financial penalties.

Back to top

A4: 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.

Back to top

A5: If I do not have sufficient funds 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.

Back to top

A6: 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.

Back to top

A7: 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.

Back to top

Answers: Employers - Contribution Surcharge

A1: 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.

Back to top

Answers: Employers - Employee Category

A1: How to classify casual and non-casual employees?

  • Casual employees are those engaged in the construction or catering industries, and are employed either on a day-to-day basis or for a short-term fixed period of less than 60 days, and aged between 18 and 65.
  • Non-casual employees are those (other than casual employees) aged between 18 and 65 and employed for 60 days or more under a continuous contract of employment.

Back to top

A2: Are part-time staff casual employees?

In general part-time staff are not casual employees, they are non-casual employees. However, if they are engaged in the construction or catering industries, and employed on a day-to-day basis or for a short-term fixed period of less than 60 days, then they are casual employees.

Back to top

A3: My company is a trading company and employs an office assistant on a daily basis. Is he/she a casual employee?

No. He/She is a non-casual employee because he/she is not engaged in the construction or catering industries

Back to top

A4: My restaurant employs some monthly paid waiters who have now been working for more than 60 days. Are they casual or non-casual employees?

Although your employees are engaged in the catering industry, they are non-casual employees because they are neither employed on a daily basis nor for a short-term fixed period of less than 60 days.

Back to top

Answers: Employers - Enrolling Employees

A1: If my employees refuse to complete an Employee Application Form to participate in MPF, what should I do?

You may explain to your employees that you are obliged to enrol them into an MPF scheme and deduct the contributions from their salary as required by the MPF legislation. To comply with the legislation, you must enrol them into the MPF scheme by providing their personal details such as name, HKID number, date of birth and date of employment to the MPF provider. However, if they do not complete an Employee Application Form, their contributions will be automatically invested in the MPF Conservative Fund.

In the above situation, you can enrol your employees in the New Employees Section of the Remittance Statement.

Back to top

A2: 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.

Back to top

A3: If an employee is recruited on a one-year contract basis, do I need to 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.

Back to top

A4: 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.

Back to top

A5: Is it necessary for me to sign the Employee Application Form?

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.

Back to top

A6: What are the consequences if my employee forgot to sign his/her Employee Application Form?

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.

Back to top

A7: 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.

Back to top

A8: If the 60th day of an employee's employment falls 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.

Back to top

Answers: Employers - Making First Mandatory Contributions for New Employees

A1: When and how should an employer report the first mandatory contributions for new employees?

According to the MPF legislation, it is employers' responsibility to enrol new employees into an MPF scheme by submitting Employee Application Form for employees who have been employed for 60 days (for non-casual employees) / 10 days (for casual employees). You are also required to submit the Remittance Statement and make the first mandatory contributions for your new employees on or before the tenth day after the last day of the month during which the 60-day permitted period ends (for non-casual employees) / on or before the tenth day after the last day of the contribution period in which the 10-day permitted period ends (for casual employees). Failure to remit mandatory contributions on time and in full may be subject to surcharge and penalty imposed by the Mandatory Provident Fund Schemes Authority.

Back to top

A2: If the permitted period end date or the 10th day after the last day of the month which the permitted period ends is a Saturday, a public holiday, a gale warning day or a black rainstorm warning day, when is the contribution day of the first contribution for the employee?

The contribution day of the first contribution is the 10th day after the last day of the month during which the permitted period ends. If the contribution day is a Saturday, a public holiday, a gale warning day or a black rainstorm warning day, then it means the following day which is not a Saturday, a public holiday, a gale warning day or a black rainstorm warning day. However, for the purpose of determining the contribution day of the first contribution, there would be no postponement of the permitted period end date even if the last day of the permitted period is a Saturday, a public holiday, a gale warning day or a black rainstorm warning day.

Back to top

A3: Should I wait until the new employee's records shown on the Remittance Statement to make the first mandatory contributions for new employees?

If you are due to make the first mandatory contributions for your new employees, but their records are not yet being shown in the paper or electronic remittance statement, you must report the first mandatory contributions for your new employees under the 'New Employee Section' of the remittance statement and settle the contributions on time. You should not wait until their records are being shown in the remittance statement before making the first contributions. Failure to remit mandatory contributions on time and in full may be subject to surcharge and penalty imposed by the Mandatory Provident Fund Schemes Authority.

If you have not received the paper or electronic remittance statement, you may click here to download the blank paper remittance statement in order to report and pay the first mandatory contributions for your new employees on time.

Back to top

Answers: Employers - Forms

A1: Where should I submit the forms?

Please send your forms to HSBC MPF, PO Box 73770, Kowloon Central Post Office.

Back to top

A2: Can I submit the forms to an HSBC branch?

Yes. You can drop in your forms in our MPF drop-in boxes at the designated HSBC branches.

Back to top

Answers: Employers - Refund of Long Service Payment or Severance Payment

A1: My employees question the company's rights to utilise their accrued benefits for offsetting Long Service Payment or Severance Payment (LSP/SP) made to them. Which section of the legislation should I quote?

The employer's rights to offset LSP/SP from accrued benefits derived from the employer's contributions are provided in section 31IA (Gratuity or benefit to be reduced by amount of severance payment in certain cases) and 31YAA (Gratuity or benefit to be reduced by amount of long service payment in certain cases) of the Employment Ordinance and section 12A of the Mandatory Provident Fund Schemes Ordinance.

Back to top

A2: There are different types of contributions under member's MPF account, is there any offset sequence when HSBC handling the request for refund or claim of long service payment or severance payment?

Yes. The member's vested accrued benefits derived from the employer's contributions will be used for the offsetting according to the following sequence:

1. Employer voluntary contributions (if applicable)
2. Employer's ORSO transfers (if applicable)
3. Employer special contributions (if applicable)
4. Employer mandatory contributions

Back to top

A3: How will the refund be paid to my company?

We will send you a crossed cheque.

Back to top

Answers: Employers - Relevant Income

A1: 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.

Back to top

Answers: Employers - Tax

A1: Are employer's mandatory and voluntary contributions deductible expenses under profits tax?

Yes. The tax deductible amount is up to 15% of employees' total emoluments for the period to which the contributions relate.

Back to top

Answers: Employers - Terminating Employees

A1: 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.

Back to top

A2: 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).

Back to top

A3: 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).

Back to top

A4: 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'.

Back to top

A5: 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.

Back to top

A6: 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.

Back to top

A7: 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 - By the 10th day after the last day of contribution period in which the employee's employment is terminated

Back to top

A8: 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

Back to top

A9: If I fail to report the termination of an employee on time, what is the consequence?

Proper reporting of employee's termination will save time for any subsequent administrative work and avoid reporting of default contributions to the MPFA. If records of any terminated employees are still found on the remittance statements, you should provide the relevant employees' termination details to us immediately for the update of their records.

Back to top

A10: 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 under the 'Additional Employee Termination Information Section'.

Back to top