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The document is an application form for the HSBC Mandatory Provident Fund (MPF) ValueChoice scheme, intended for employers in Hong Kong. It outlines the necessary information and requirements for participating employers, including details about the company, its registration, and employee contributions. The form also includes sections for personal data collection, investment choices, and declarations regarding compliance with MPF legislation. Additionally, it provides instructions on how to submit the application and manage contributions.

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How do I change my address in HSBC Hong Kong MPF?

How can I update contact details of my MPF account ? You can update your contact details via the HSBC HK Mobile Banking app / HSBC Online Banking, by visiting our branch, by mail, or by calling our customer service hotline. Instructions on how to update can be found on our Change contact details page.

Is MPF mandatory?

Employers are required to contribute 5% of their employees income to the MPF, even if the employee is earning less than HK$7,100 per month. The maximum employers contribution is HK$1,500 for employees earning more than HK$30,000 per month. Employees can also voluntarily contribute more than the required 5%.

Is MPF compulsory in Hong Kong?

Employees and employers are both required to make mandatory contributions of 5% of the employees relevant income into the employees MPF account, subject to the minimum and maximum relevant income levels.

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Can you opt out of MPF?

Withdrawal of MPF derived from voluntary contributions is subject to the governing rules of the scheme concerned. If scheme members have voluntary contributions in their accounts, they should contact their trustees for the withdrawal rules for voluntary contributions.

Who is exempt from MPF contribution in HK?

The following are exempt persons who are not required to join an MPF scheme: employees and self-employed persons who are under 18 or over 65 years of age. domestic employees. self-employed hawkers.

What is the mandatory provident fund contribution in Hong Kong?

Employers and employees are each required to make regular mandatory contributions to an employees MPF scheme. The MPF employee contribution and MPF employer contribution should each be 5% of the employees relevant income, subject to relevant income levels.

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