New social insurance guidance for Hong Kong, Taiwan and Macau residents employed in Mainland China
In November 2019, the PRC Ministry of Human Resources and Social Security issued the Interim Measures on Social Insurance Contributions for Hong Kong, Taiwan and Macao Residents (“HTM Measures”). The HTM Measures will take effect on 1 January 2020.
Key highlights resulting from the HTM Measures include:
- Employers in Mainland China are mandatorily required to make social insurance contributions (including contributions for pension insurance, medical insurance, maternity insurance, work injury insurance and unemployment insurance) for Hong Kong, Taiwan and Macau resident (“HTM Resident”) employees they employ.