Greetings from i-Admin. Please find below notice for the statutory adjustments in July in China for your reference, the contribution base is according to the monthly average salary in year 2021. Shanghai HF – The proportion of individual and companies’ contribution rate remain as 7% per each. After the adjustment, maximum contribution fee will be […]
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Greetings from i-Admin. As of July 1 of each year, the minimum & maximum monthly income base threshold is adjusted for National Pension contribution purposes. In addition, the ratio has been changed to secure fund for unemployment insurance. Please refer the changes below. [National pension] [Unemployment Insurance] Please […]
Greetings from i-Admin. From 1 August 2022, the Record of Payment (ROP) will indicate any mismatch between the new employees’ names you have provided and the names indicated in their NRICs. CPF contributions are credited to your employees’ CPF accounts based on the NRIC numbers you have provided in your CPF submission. You are reminded […]
Greetings from i-Admin. The CPF contribution rates for employees aged above 55 to 70 will be increased to strengthen their retirement adequacy. The changes will apply to wages earned from 1 January 2023: There are some highlights from CPF board as per below details: • For those earning monthly wages of more than $500 to […]
Dear Customers, With refer to the final update from the government regarding an amendment of minimum wage, under Minimum Wage Order (MWO) 2022 that was gazette on 27th April 2022, it has been decided that : a) Minimum wage of MYR1,500 per month is effective 1st May 2022: 1) For an employer who employs 5 […]
Dear Customers, Starting 14 April, 2022, employers are required to pay the retirement benefit (severance payment) to Individual Retirement Pension (IRP) Accounts to employees leaving the company instead of paying out under the payroll account as current practice. Please feel free to contact us if you have any questions. Best regards, i-Admin Korea Inc.
Hi All, This is to inform that there is changing on Thailand Social Security Contribution rate with following details The rate changing is for payroll of May’22 – July’22 The new Employee Social Security contribution rate is 1% (the current rate is 5%) The new Employer Social Security contribution rate is 1% (the […]
The State Council newly released an announcement that care expenses for children under 3 year-old would be included in the Special Additional Deductions for Individual Income tax, which is retroactive from 1 Jan 2022. The standard and application rule for this new deduction item is as below. Deduction Type Standard Amount (CNY) Scope of […]
Announcing Japan Team Japan Unemployment Insurance Deduction Rate 2022 Update Hi All, Japan Labor Bureau has announced updates on the Japan Unemployment Insurance deduction rate effective from April 1, 2022 to September 30, 2022. The Unemployment Insurance rate for Employer contribution has been changed from 6% to 6.5% for general business type. Please […]
Announcing Indonesia Team INDONESIA Pension Program Update 2022 Greetings from i-Admin. Indonesia government has issued an update related to the amount of benefits and wage regulation for BPJS pension 2022. Please see below for updated details of Jaminan Pensiun (Pension Guarantee): Minimum Pension Benefits is IDR.363,300.00 per month and maximum of IDR.4,357,900.00 […]