We are dedicated to helping firms streamline their HR process using cloud-based solutions.
With the help of professionals and the right payroll application for your company, hours of manual works can be reduced.
Let us help you automate your payroll management, while you devote more energy to more business-driven activities events.
Looking to speak to a professional on payroll outsourcing in Hong Kong?
Book a free 30 minutes consultation here.
Payroll Management in Hong Kong:
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HR administration and support:
MPF Services:
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Hong Kong salaries tax advisory:
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Stay compliant at all timesTake advantage of the FastLane Group’s |
Focus on growing your businessLet us handle your complicating and |
Reduce CostsEnjoy a full HR and Payroll team without |
Cloud-based SystemsLet us manage your Payroll and |
Our experienced staff assists our clients by utilizing online payroll tools to automate HR and payroll-related tasks. We move the tedious payroll and administrative work of our clients to an online platform, to automate and handle various aspects of the traditional payroll and HR process. The result is a clean and efficient payroll process that improves productivity, lowers expenses, and allows our clients to focus on the key business activities that make their business profitable.
Talenox is a cloud-based HR software that is designed to manage tasks related to payroll and leave and was nominated as Best Payroll Software by HRM Asia. Being able to fully integrate with platforms such as Xero and coming with an easy set-up process, Talenox is an efficient way for companies to streamline their HR processes.
“We launched our HK office in 2020 and wanted a provider and platform to manage Payroll, Accounting, and HR services. We were very happy to find and engage with Fastlane; their service and advice have been invaluable as we scale our business in Asia.“
Nathan Hughes, Managing Director – APAC
Lineal
“FastLane is handy and efficient, they take good care of our payroll and admin duties, and they are able to provide the appropriate HR advice if needed. Highly recommended.”
Alex Kot, Director
Space Is Limited
“Working with FastLane has been a wonderful experience. They are very customer centric, responsive and very strong at regulatory compliance. I would recommend them to my friends and clients.”
CK Lee, CFO/MD
LimeTree Capital Advisors Limited
“FastLane has consistently provided a first-rate service. They are responsive and extremely helpful. I strongly recommend them.”
Rosie Thomason, Head of Finance
Arcadia Consulting Limited
Outsourcing payroll processes lets professional payroll service providers handle all your payroll, and even possibly HR-related tasks. Doing so frees up resources for more strategic tasks that can ultimately affect a company’s bottom line, as repetitive tasks will no longer require hours of attention from a company’s key management.
When considering outsourcing a payroll process, companies should examine their internal resources. What is my in-house capability? Is my HR staff familiar with local tax and labor laws? Does my payroll contain confidential information that I’d rather my internal teammates in HR not be privy to? If any of these questions make you consider outsourcing your payroll, then perhaps it is time to do so!
Cloud-based / online payroll software offers a diverse range of benefits not commonly found in traditional payroll systems. Very simply, users of a cloud-based payroll software can enjoy cost advantages, increased efficiency, improved financial control and can devote more time and resources to business driving activities.
FastLane charges a setup and monthly processing fee in accordance with our clients headcount. Employees will only be counted towards the headcount when they are onboarded. Payroll, MPF calculations, tax administration and related off-boarding / termination filing services are included in our monthly fee. Other advisory fees are based on fixed fee quotations on a case-by-case basis.
Under Hong Kong’s Employees’ Compensation Ordinance (“ECO”), no employer shall employ any employee unless the company has an insurance policy in place to cover any potential injuries or liabilities incurred in respect of all their employees. Employers who fail to comply with the ECO to secure an insurance cover are liable to a maximum fine of HKD 100,000 and imprisonment for two years.
According to the Hong Kong Labour Department, employers should follow the minimum insurance cover when taking out employees’ compensation insurance:
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No. of Employees |
Amount of Insurance Cover per event |
| Not more than 200 | not less than HKD100 million |
| More than 200 | not less than HKD200 million |
As it is the employer’s responsibility to ensure that adequate coverage is available for their employees’, it is recommended to notify an insurer when developments or issues arise.
What is the process of obtaining Employee’s Compensation Insurance (ECI)?
According to session 40 of the Employee’s Compensation Ordinance, Companies should prepare their ECI before hiring any employees. Companies should consult a List of ECI issuers for a qualified ECI.
After decided the insurance provider, companies can prepare the following items to fasten the procedures:
After taking out employees’ compensation insurance policy, the employer is required to display, in a conspicuous place on each of his premises where any employee is employed, a notice in both English and Chinese, showing the details of the policy.
FastLane is a professional firm that offers a wide range of corporate and HR outsourcing services for your business starting in 2013. We can provide our experience and expertise to ensure that businesses do not need to dedicate excessive resources to find the best ECI program and handle the registration process. We make the process easy to manage which allows our clients to focus on their key revenue-driving activities.
According to the MPFA, both full-time and part-time employees are covered by the MPF system and it is the employer’s responsibility to enroll their employees in an MPF scheme within the first 60 days of their employment. To do so, employers should consult the MPFA’s List of MPF Approved Trustees for qualified MPF schemes. The employer, upon selecting one or more of the MPF schemes available on the market, should offer them to their employees.
Self-employed individuals must also enrol themselves into an MPF scheme within 60 days after becoming self-employed. However, exempted persons are not required to do so.
Unlike ECI which is mandatory in Hong Kong, health insurance is not. The decision on whether or not to provide employees with health insurance lies with the employer. Despite not being mandatory, the vast majority of Hong Kong businesses provide health insurance to their employees, though the level and extent of the coverage varies greatly. Health insurance plans can be purchased for a group of individuals from providers.
Hong Kong health insurance schemes generally provide coverage for the following categories:
When building and managing a team, Hong Kong employers must take into consideration the various regulations surrounding employment. We recognize that staying up to date with Hong Kong’s continuously developing statutory employment requirements is a time consuming and tedious task. FastLane can provide updates on any regulatory developments and can advise on how best to navigate and adhere to your business’ employer responsibilities.
The FastLane Group can assist clients in applying to the various visa schemes offered by the Hong Kong Government. We have obtained extensive experience assisting entrepreneurs, start-ups, and SMEs in the visa application process. If you require assistance navigating the complex visa process, FastLane can offer guidance to improve your chance of a successful application.
