In order to relieve employers’ burden from the 300 Baht minimum daily wage policy, the Board of the Social Security Fund has approved a year’s extension of the reduction in the Social Security contribution rate.
Keywords: Mazars, Thailand, Tax, the Ministry of Labour, the Royal Gazette, the Social Security Office
10 January 2013
Employers are required to deduct 4% from their employees’ salary for monthly Social Security contributions, up to a maximum at 600 Baht per employee. There is also an employers’ contribution paid to the Social Security Office for the same amount.
In order to become effective, a Ministerial Regulation has to be issued by the Ministry of Labour and published in the Royal Gazette. Such Regulation is expected to be issued and published in early January 2013.
For more information, please visit the Social Security Office.