Company: KMRK
Filing Date: 2025-08-15
Form Type: 20-F
Source: 0001213900-25-077494
Chunk: 70

Company: K-TECH SOLUTIONS CO LTD
Filing Date: 2025-08-15
Form: 20-F
Item: Item 4
Chunk 70
---
 of an employee on completion of his contract of employment and any other sum payable in respect
of his contract shall be due to him on the day of the completion of the contract and shall be paid as soon as is practicable but in any
case not later than seven days thereafter; and (iii) where a contract of employment is terminated, any sum due to the employee shall be
paid to him as soon as is practicable and in any case not later than seven days after the day of termination. Under the Employment
Ordinance, any employer who willfully and without reasonable excuse fails to pay the said sum due to the employee within seven days
after the day of termination, commits an offence and is liable to a fine of HK$350,000 (approximately US$44,733) and to imprisonment
for three years.

Further, the EO provides that
if any wages or any sum earned by the employee for work done over the period commencing on the expiry of his wage period next preceding
the time of termination up to that time are not paid within seven days from the day on which they become due, the employer shall
pay interest at a specified rate on the outstanding amount of wages or sum from the date on which such wages or sum become due up to the
date of actual payment. Any employer who willfully and without reasonable excuse fails to pay such interest, commits an offence and is
liable on conviction to a fine of HK$10,000 (approximately US$1,278).

Mandatory Provident Fund Schemes Ordinance

The Mandatory Provident Fund Schemes Ordinance (Chapter 485 of
the Laws of Hong Kong) (the “MPFSO”) provides that every employer must take all practicable steps to ensure that
each employee is covered under a Mandatory Provident Fund (MPF) scheme. An employer who fails to comply with such a requirement may face
a fine and imprisonment. The MPFSO provides that an employer must, for each contribution period, (a) from the employer’s own
funds, contribute to the relevant MPF scheme the amount determined in accordance with the MPFSO; and (b) deduct from the employee’s
relevant income for that period as a contribution by the employee to that scheme the amount determined in accordance with the MPFSO.

The amount to be contributed
and/or deducted by an employer for a contribution period is in the case of a casual employee who is a member of an industry scheme, an
amount determined by reference to