Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 87

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 4
Chunk 87
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 the Major In-country Partner. As of the date of this report, a company secretarial service company co-owned by our
executive Directors provided company secretarial services to the Major In-country Partner.

We entered into a human resources
outsourcing service agreement with the Major In-country Partner in April 2016. Pursuant to the agreement, the services to be provided
by the Major In-country Partner comprise: (i) computation of salary; (ii) computation of individual income tax, social security and housing
provident fund contribution; (iii) assisting in the filing of individual income tax; (iv) provision of employment services as employer
of record; (v) assisting in the filing of social security, new hire and termination of employees; (vi) assisting in the filing of housing
provident fund; (vii) assisting in the filing of disabled persons’ employment security fund; and (viii) settlement of payment of
salary, social security, housing provident fund, disabled persons’ employment security fund and comprehensive insurance. The agreement
shall be in force unless otherwise agreed between our Group and the Major In-country Partner. This human resources outsourcing service
agreement can be terminated by negotiation of both parties under the circumstance that one of the parties suffers force majeure and is
not able to perform the agreement. An English translation of such human resources outsourcing service agreement has been filed as an exhibit
of this Registration Statement. The Major In-country Partner’s service fees are calculated based on the pricing schedule to be agreed
between our Group and the Major In-country Partner from time to time, and are settled by telegraphic transfer. The pricing schedule with
the Major In-country Partner covers the service fees charged for (i) computation and payment of salary and tax filing; (ii) handling of
social security and housing provident funds; and (iii) provision of employment services. For the computation and payment of salary and
tax filing, the service fees per employee decrease when the number of employees increases. For handling of social security and housing
provident funds and provision of employment services, the service fees are fixed. For the provision of employment services, the Major
In-country Partner acts as the seconded employees’ employer of record and handles the payroll and other administrative matters for
the seconded employees while our Group assists in coordinating with the channel customers, end-users and the Major In-country Partner.
The Major In-country Partner charged our Group at a fixed fee per seconded employee during the years