Company: WCT
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044576
Chunk: 27

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-05-16
Form: 20-F
Item: Item 4
Chunk 27
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 wages deductions and the granting
of statutory holidays, etc. Employees who are employed under a continuous contract are further entitled to benefits such as rest days,
paid annual leave, sickness allowance, severance payment and long service payment, etc.

Employees’ Compensation Ordinance (Chapter 282
of the Laws of Hong Kong) (“ ECO”)

The ECO establishes a no-fault and non-contributory
employee compensation system for work injuries and sets out, among others, the rights and obligations of employers and employees in respect
of injuries or death caused by accidents arising out of and in the course of employment. If an employee sustains injuries or dies as a
result of an accident arising out of and in the course of employment, the employer is generally liable to pay compensation even if the
employee might have committed acts of faults or negligence when the accident occurred.

Pursuant to section 40 of the ECO, all employees
are required to take out insurance policies to cover their liabilities for injuries at work in respect of all their employees. An employer
who fails to comply with the aforementioned is liable on conviction upon indictment to a fine at level 6 and to imprisonment for two years.

Mandatory Provident Fund Schemes Ordinance
(Chapter 485 of the Laws of Hong Kong) (“ MPFSO”)

Under the MPFSO, employees must participate in
a Mandatory Provident Fund, which is a defined contribution retirement plan administrated by independent trustees, for its employees employed
under the Hong Kong Employment Ordinance (Chapter 57 of the Laws of Hong Kong). The employer and its relevant employee,
are each required to make contributions to the scheme at 5% of the relevant employees’ relevant income, including any wages, salary,
leave pay, fee, commission, bonus, gratuity, perquisite or allowance expressed in monetary terms, paid or payable by the employer to the
relevant employee in consideration of his employment.

Minimum Wage Ordinance (Chapter 608 of
the Laws of Hong Kong) (“ MWO”)

The prescribed minimum hourly wage rate (currently
set at HK$40.0 per hour) during the wage period for every employee is governed by the MWO. Any provision of employment contract which
purports to extinguish or reduce the right, benefit or protection conferred on the employee under the MWO is void.

4C. Organizational Structure

For descriptions of our organizational structure,
contractual arrangements, variable interest entity and subsidiaries as of the date of this annual report, please see