MPF Voluntary Contribution Explanation

In Employee Master, HR Info tab, User can select N/A, Fixed Amount or Percentage for  Voluntary Contribution.

Voluntary Contribution Scale

N/A: If the VC is marked as N/A (Not Applicable), no Voluntary Contribution will be made.

Fixed Amount: When the VC is set to a Fixed Amount, the Voluntary Contribution is the exact amount you input. 

Percentage: When the VC is set to a Percentage, the Voluntary Contribution is calculated according to the "Voluntary Contribution based on" option in the Payroll Module Setup, under the MPF Tab.  Usually, 0% means contributing 5% for MC+VC without the MPF ceiling. 

• Existing HRPro will continue to contribute Voluntary Contributions even if the employee reaches age 65 unless you change the VC to zero amount. Alternatively, you can turn on the "ERVC apply exclusively to employees aged 18 to 64" option in the Payroll Module Setup, under the MPF Tab.