TNAG-0786-FCO40-990-Policy-of-Government-of-Hong-Kong-on-labour-and-trade-union--1978 — Page 32

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Table 18

7.1

VII. MAJOR FRINGE BENEFITS IN THE PRIVATE SECTOR

Where social security systems are not fully developed, fringe benefits provided by employers play a significant role in improving

the welare of workers. In the six countries

visited fringe benefits are provided to differing extent which also varies from employer to employer. Table 18 summarises generally the major fringe benefits provided by employers in the private sector in the six countries vis-a-vis Hong Kong. The more salient features are highlighted below.

Year-end bonus (annual bonus

7.2

Although

In the Philippines, the payment of a year-end bonus equivalent to one month's pay to all employees (including Government employees) earning less than 1,000 pesos (about HK$600) per month is mandatory by Presidential Decree. bonus payments are not compulsory in other territories including Hong Kong, it is customary for employers in the private sector to make such payments: a month's extra pay is common in Hong Kong, Indonesia, Malaysia, Singapore and Thailand. Korea is the most generous three or four months' borus is common, but payment is made by instalments every three or four months.

17.3.....

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