For regular employees
Employers and employees are each required to make regular mandatory contributions of 5% of the employee’s relevant income to an MPF scheme, subject to the minimum and maximum relevant income levels.
For a monthly-paid employee, the minimum and maximum relevant income levels are $7,100 and $30,000 respectively.
Refer to the table below for the rates or you can head to MPFA website for further details:
By default in Talenox, we will not calculate MPF contributions in payroll for employees who have not been employed for 60 days or more.
For casual employees
As an employer in the construction or catering industry, you can choose to enrol your employees in an Industry Scheme or a Master Trust Scheme.
You may also enrol your casual employees in an Industry Scheme and your regular employees in a Master Trust Scheme, or if you don’t want to participate in both types of schemes at the same time, you may enrol both your casual and regular employees in an Industry Scheme or both in a Master Trust Scheme. Both legislative requirements are the same for either scheme.