Making MPF contributions for your employees

HSBC MPF enables employers to make contributions and fulfil their administrative responsibilities easily.

Both employers and employees are required to make regular mandatory contributions to an MPF scheme, based on the employee's relevant income, subject to minimum and maximum relevant income levels.

In addition to mandatory contributions, employers can also enhance their employees' benefits by making additional voluntary contributions.

Business Internet Banking

Business Internet Banking allows you to conveniently make contributions online.

Contribution

Under MPF legislation, employers and employees are both required to make mandatory contributions calculated at 5% of the employee's relevant income. In other words, the amount of mandatory contributions for each employee is comprised of 2 portions – the employer's mandatory contributions for the employee and the employee's mandatory contributions. 

Mandatory contributions are subject to minimum and maximum relevant income levels. MPFA reviews the minimum and maximum relevant income levels regularly and employers should always refer to the latest levels published on the MPFA website.

Relevant income and mandatory contribution
Employee's monthly relevant income
Employer's mandatory contribution
Employee's mandatory contribution
Less than HKD7,100
Relevant income x 5%
No contribution required
HKD7,100-30,000
Relevant income x 5%
Relevant income x 5%
More than HKD30,000
HKD30,000 x 5%
HKD30,000 x 5%
Relevant income and mandatory contribution
Employee's monthly relevant income
Less than HKD7,100
Employer's mandatory contribution
Relevant income x 5%
Employee's mandatory contribution
No contribution required
Employee's monthly relevant income
HKD7,100-30,000
Employer's mandatory contribution
Relevant income x 5%
Employee's mandatory contribution
Relevant income x 5%
Employee's monthly relevant income
More than HKD30,000
Employer's mandatory contribution
HKD30,000 x 5%
Employee's mandatory contribution
HKD30,000 x 5%

The current minimum relevant income level of HKD7,100 per month applies to contribution periods starting 1 November 2013, while the current maximum relevant income level of HKD30,000 per month applies to contribution periods starting 1 June 2014.

Relevant income refers to all monetary payments paid or payable by an employer to an employee, including wages, salary, leave pay, fees, commissions, bonuses, gratuities, perquisites or allowances, but excluding severance payments or long service payments under the Employment Ordinance.

Electronic methods for reporting contribution details and ways to make MPF contributions

To help employers report MPF contributions more effectively, we offer a number of electronic methods for employers to handle the MPF contributions for employees.

Advantages of using e-submissions to report contributions:

  • Accurate
  • Environmentally friendly
  • Time saving
  • Safe
  • Systematic

Business Internet Banking MPF Service

Our user-friendly Business Internet Banking (BIB) MPF Service platform offers employers a secure and convenient way to submit remittance statements and make MPF contributions. You can:

  • Preload each employee's latest contribution record for easy reference 
  • Calculate both employee's and employer's mandatory MPF contributions automatically according to the relevant income
  • Add new staff and report terminated employees
  • Set up direct-debit dates for contribution settlement
  • View remittance statements submitted via BIB in the past 12 months

Send encrypted emails through SecureMail

Through SecureMail, employers can submit their electronic remittance statements in encrypted emails. 

  • Employers will receive an encrypted email from HSBC MPF each month with the electronic remittance statement attached
  • Latest contribution records for your employees are preloaded so employers can update and modify relevant contribution records if necessary and submit electronic remittance statements through the encrypted SecureMail channel

HR software with MPF contribution facilities

HSBC MPF supports some HR software with the function to calculate MPF contributions provided by third parties.

These HR software applications are usually equipped with:

  • Data validation and input checking functions, helping users minimise input mistakes
  • MPF contribution calculation, which can prevent potential errors

Customised file interface

For companies or enterprises that have already set up their own system to handle and calculate MPF contributions, we can support a customised file interface for employers to make electronic submissions.

Paper remittance statements

The latest contribution details of your reported employees will be pre-printed in the remittance statement and sent to you via email to facilitate your MPF contribution administration. Nevertheless, you'll still have to fill in the contribution details for all your existing employees for the first first submission. 

You can send us remittance statements by mail, or alternatively, HSBC MPF Drop-In Boxes have been set up at designated branches for the collection of MPF documents. Submission of documents via the HSBC MPF Drop-In Box will be forwarded to the MPF department for processing.

You can mail your remittance statements to:

The Hongkong and Shanghai Banking Corporation Limited

PO Box 73770 Kowloon Central Post Office

Call us on our MPF Employer hotline at +852 2583 8033 for assistance.

Terminating employees

When an employee ceases employment, the employer should notify us and pay the final contributions on time.

The Last Contribution Calculator helps employers work out the final contribution and payment date.

Important notes

  • The information contained here is for reference only and will be updated without notice. The provisions of the Mandatory Provident Fund Schemes Ordinance, other applicable legislation/regulations and guidelines or announcements published by the Mandatory Provident Fund Schemes Authority shall prevail for any information on MPF system. If you are in doubt about the meaning or the effect of the contents of this website, you should seek independent professional advice.
  • Investments involve risks. Past performance is not indicative of future performance. The value of financial instruments, in particular stocks and shares, and any income from such financial instruments, may go down as well as up. For further details including the product features and risks involved, please refer to the 'Principal Brochure'.