Is There A Patch To Update Minimum Level of Relevant Income From $5,000 To $6,500 Effective 1-NOV2011?
Last updated on JANUARY 10, 2017
Applies to:Oracle HRMS (Hong Kong) - Version 11.5.9 and later
Information in this document applies to any platform.
The Legislative Council has passed the amendment of minimum level of relevant income for Mandatory Provident Fund (MPF) contributions.
The minimum level of relevant income has been amended from $5,000 to $6,500, effective 1 November 2011. For the contribution periods (wage periods in general) starting on or after the effective date,employees with a monthly relevant income less than $6,500 are not required to make the employee’s part of contribution, but their employers have to make the employer’s part of contribution.
Is there a patch from Oracle to deliver this change?
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