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GPHKG: Global Payroll Hong Kong Legislative Changes For Tax Year 2013 (Doc ID 1522564.1)

Last updated on DECEMBER 12, 2019

Applies to:

PeopleSoft Enterprise HCM Global Payroll Hong Kong - Version 9 and later
Information in this document applies to any platform.

***CHECKED FOR CURRENCY ON 2 APR 2015***

Details

The intent of this document is to describe solutions for problems or questions related to Global Payroll Hong Kong Legislative Changes for Tax Year 2013.  This solution applies to customers on PeopleSoft Release {9.0 & 9.1}.  This is a living document and will be updated as new solutions are created.  Please review thoroughly on a regular basis.

(Last updated 24th Oct 2013) Summary Table - see below for details

Legislative ChangeEffective DateAdditional InfoP1 Patch Fix Target DateTargeted into Bundle

 

 1.HKG STATUTORY MINIMUM WAGE RATE CHANGES EFFECTIVE 1ST OF MAY 2013

 

May 1st 2013

 

Statutory Minimum Wage rate has been increased from its prevailing rate of
$28 per hour to $30 per hour.

For Release 9.1: N.A

 

For Release 9.0: N.A

 

 9.1 release :

Global Payroll 9.1 Update 2013-B,Bug Patchset 15880468

9.0 release :

Global Payroll 9.0 Update 2013-B, Bug Patchset 15880391


 2.AMENDMENT OF MIN & MAX LEVEL OF RELEVANT INCOME FOR MPF CONTRIBUTIONS

 Nov 1st 2013 The monthly minimum relevant income level has been increased from $6,500 to
$7,100 (the new level applies to contribution periods commencing on or after
1 November 2013).  The monthly maximum relevant income level has been
increased from $25,000 to $30,000 (the new level applies to contribution
periods commencing on or after 1 June 2014). Accordingly, the monthly maximum
mandatory contribution amounts have been increased from $1,250 to $1,500.
 
For Industry Schemes , the daily minimum relevant income level would be
increased from $250 to $280 (the new level applies to contribution periods
commencing on or after 1 November 2013). The daily maximum relevant income
level has been increased from $830 to $1,000 (the new level applies to
contribution periods commencing on or after 1 June 2014).

 

For Release 9.1: 17419806

 

For Release 9.0: 17419788

 

 

 

 9.1 release :

Global Payroll 9.1 Update 2013-D,ETA Nov 28th

 

9.0 release :

Global Payroll 9.0 Update 2013-D,ETA Nov 28th

3. INTRODUCTION OF NEW CONTRIBUTION SCALE FOR MPF INDUSTRY SCHEME

Nov 1st 2013 For Industry Schemes , the daily minimum relevant income level would be increased from $250 to $280 (the new level applies to contribution periods
commencing on or after 1 November 2013). MPFA has released a new contribution scale that needs to be implemented in the system. Please refer the  http://www.mpfa.org.hk/eng/information_centre/publications/booklets_publicatio
ns/mpf_system/files/IS_leaflet_eng_2013.pdf

For release 9.1 : 17631747

 

For Release 9.0: N.A

9.1 release :Global Payroll 9.1 Update 2014-A, ETA Jan 29th

Actions

You need to apply the critical P1 patches / GP Updates whenever their legislative fixes are posted.

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