Hong Kong Updates- Minimum Wage

The Financial Action Task Force (FATF) has positively recognised the efforts made by Hong Kong in combating money laundering and resolved unanimously to remove Hong Kong from the follow up process in its Mutual Evaluation.

The Minimum Wage Commission's recommendation to adjust the Statutory Minimum Wage rate from HK$28 per hour to HK$30 per hour has been accepted and the new rate should take effect on 1 May 2013. The HK$11,500 monthly cap (above which it is not necessary to keep a written record of hours worked) will therefore increase to HK$12,300 per month.

Employers should take steps to adjust wages to comply with this change.

***
Primasia will post the updates of Hong Kong and China from time to time. Follow us on our Website/ Blogger/ LinkedIn and stay tunned for our updates!

===================================================================

Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email 
--------------------------
Follow us on:
Website: Primasia HK / Primasia China
LinkedIn: Primasia
--------------------------
Primasia Corporate Services Limited
Tel: +852 2882 2088
Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong