Welcome to Hong Kong, but as someone said above 2 main things are schooling and housing, having done that one should also be aware of the total costs of a 4 person household, then you can make a informed decision and in case you fall short, can ask more compensation from your employing company.
House Rent : 30,000 ( for Net 850 sqft ) They call it 1100 sft in HK
School fees : 18,000 per child ( International schools ) Forget ESF schools almost impossible to get in there
Bus & Other school charges : 2,000 to 2,500 per child
Bills for home : 3,000 ( electricity, Water, Gas, Internet, Cable, Wifi etc )
Maid Salary : 4,500 ( optional )
Groceries and home food : 5,000
Eating out in weekends : 1,500 per weekend ( Saturday & Sunday) One time only either Lunch or Dinner
Entertainment : 1,000 ( minimum )
Local Transport : 1,500 ( family of 4 )
Total is HK$ 91,000
Suppose the take home salary is US$ 15,000 ( = 118,000 ) , in that case do not forget the 15% Income tax
That means you get 100,000 in hand and spend 91,000
Then you save amount of 9,000 almost say US$ 1,000
After that yearly trips to India will cost money, and the above list does not include shopping of Clothes, Shoes, Books, Gifts or any other thing,
Moving is a big decision , HK is not far away Mumbai, why not make a short trip PRIOR to moving lock stock and barrell,
If the Salary is over US$ 15,000 then is fine, if not, think about it,
Hong Kong National Motto is NO MONEY NO TALK