5
MONDAY, MAY 16, 1988
WHERE THE EMPLOYEE IS SIMULTANEOUSLY ENTITLED TO SUCH AND A PROVIDENT FUND, THE LONG
PAYMENT SERVICE PAYMENT OR SEVERANCE PAYMENT CAN BE REDUCED BY THE AMOUNT OF PROVIDENT FUND CONTRIBUTED EMPLOYER," MR YIU EXPLAINED.
FUND
"IN OTHER WORDS, REGULAR SAVINGS TOWARDS SCHEME COULD ASSIST AN EMPLOYER TO DISCHARGE LIABILITIES UNDER THE EMPLOYMENT ORDINANCE.
"IT COULD ALSO HELP TIDE OVER CASH-FLOW STAFF RETIREMENT OR ECONOMIC RECESSION.
BY THE
A PRIVATE
PROVIDENT HIS FUTURB
PROBLEMS IN
TIMES OF
MR YIU SAID A PRIVATE PROVIDENT FUND ALBO CARRIED ADVANTAGES.
TO EMPLOYERS, HE SAID, THE ESTABLISHMENT OF SUCH A ENHANCE THE COMPANY'S POSITION
IN RECRUITING AND RETAINING REDUCE THE TURNOVER RATE OF EMPLOYEES WITH LONG AND AND CULTIVATE AMONG STAFF A HIGHER MORALE AND A
BELONGING.
OTHER
FUND COULD
STAFF, GOOD EXPERIENCE, GREATER SENSE
OF
THE
"TO EMPLOYEES, THERE IS A BETTER FINANCIAL SECURITY SINCE SCHEME PROVIDES FINANCIAL SUPPORT UPON RETIREMENT OR OTHER SPECIFIC
CONTINGENCIES.
"IN ADDITION, IF THE SCHEME IS APPROVED BY THE DEPARTMENT, THE EMPLOYER'S CONTRIBUTION WILL ALSO OPERATIONAL COST AND TAX-FREE.
INLAND REVENUE BE TREATED
AS
BENEFITS THE
"ON THE WHOLE, PRIVATE PROVIDENT FUND SCHEMES BRING TO BOTH EMPLOYERS AND EMPLOYEES, AND IN THE
IMPROVES RUN, QUALITY OF LIFE AND UPGRADE PRODUCTIVITY IN HONG KONG," MR YIU ADDED.
LONG
TRANSPORT ADVISORY COMMITTEE MEETS TOMORROW *****
THE TRANSPORT ADVISORY COMMITTEE (TAC) WILL MEKT (TUESDAY) TO DISCUSS THE PROVISION OF ADDITIONAL CROSS-HARBOUR TRANSPORT SERVICES TO COPE WITH THE POSSIBLE INCREASED DEMAND FROM THE IMPOSITION OF THE CONGESTION SURCHARGE BY THE MASS RAILWAY CORPORATION AT THE END OF MAY.
TOMORROW
PUBLIC
ARISING
TRANSIT
THE TAC WILL ALSO CONSIDER THE DRAFT FINAL REPORT ON THE ROCK TUNNEL TRAFFIC STUDY.
LION
/ALSO ON