Keywords: statutory minimum wage, SMW, new rate
On 16 January 2015, notice was gazetted to adjust the Statutory Minimum Wage ("SMW") rate to HK$32.5 per hour (up from the current HK$30 per hour). It is anticipated that the new rate will come into effect on 1 May 2015.
To reflect the change to the SMW rate, the current HK$12,300 monthly cap (above which is not necessary to keep a written record of hours worked) will be increased to HK$13,300 per month.
Employers should take steps to update their payroll procedures to reflect this change.
Originally published 19 January 2015
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