Hong Kong 713 Ordinace
The MPF Scheme is an important retirement savings scheme for Hong Kong's workforce. It provides a reliable source of retirement income and helps to ensure that employees are able to save for their future. Employers and employees should ensure that they understand the features of the MPF Scheme and are making the appropriate contributions to their retirement savings.
About 713 Ordinance
The 713 Ordinance, officially known as the Employment Ordinance (Cap. 57), is a vital piece of legislation in Hong Kong that outlines the rights and obligations of both employers and employees. Enforced by the Labor Department, this ordinance covers various critical areas, such as wages, rest days, annual leave, termination, and more. Compliance with the 713 Ordinance is essential to maintain a fair and compliant workplace.
What You Need to Know about the 713 Ordinance
Employment Terms and Conditions
The 713 Ordinance sets out minimum employment standards, including terms and conditions of employment such as wages, working hours, rest days, and public holidays. It is essential to comply with these standards to ensure fair treatment of employees.
Annual Leave Entitlement
Under the 713 Ordinance, employees are entitled to annual leave based on their length of service. The ordinance specifies the minimum number of days employees should receive and the rules surrounding leave accrual, carryover, and pro-rata entitlements.
Maternity and Paternity Rights
The 713 Ordinance provides protection for pregnant employees, ensuring they receive maternity leave, maternity pay, and job protection during their absence. It also grants paternity leave to eligible employees, allowing them to support their partners during the birth or adoption of a child.
The 713 Ordinance outlines the entitlement to statutory holidays and the calculation of holiday pay. It specifies the number of holidays and provides guidelines for payment when employees are required to work on these holidays.
Termination and Severance
The 713 Ordinance lays down the rules regarding termination of employment, including notice periods, severance payments, and redundancy procedures. It is crucial to follow these regulations to ensure fair treatment of employees during termination.
MPF (Mandatory Provident Fund) Contributions
The 713 Ordinance mandates employers to make mandatory contributions to the MPF scheme, a retirement savings plan for employees. Employers must ensure compliance with contribution calculations, deadlines, and reporting requirements.
Employees can withdraw their MPF benefits when they reach the age of 65, or they can choose to make a partial withdrawal after reaching the age of 60.
Employees who leave their job can also withdraw their MPF benefits, but they may be subject to early withdrawal penalties and tax implications.
Efficient MPF Calculations and E-Submission with JustLogin
The Ultimate Payroll Solution for Hong Kong Businesses
JustLogin automatically calculates MPF and mandatory contributions for each employee, ensuring accurate and efficient payments. The software is configured with the latest MPF rates and rules, ensuring compliance with local laws. This reduces the risk of errors in calculations and minimizes the chances of incurring penalties and interest charges.
JustLogin generates the relevant files for e-submission, making it easy for employers to submit their MPF contributions online. This feature saves time and reduces the hassle of manual submission, allowing businesses to focus on other core tasks.
JustLogin helps businesses to manage their MPF contribution deadlines effectively. The software sends reminders to employers when the deadline for contributions is approaching, reducing the chances of late payments and associated penaltie