Social Security Fund Measures
The COVID-19 pandemic has an impact on both employees and employers. The Cabinet has approved the following social security fund measures.
Keywords: Mazars, Thailand, COVID-19, Social Security Fund, Employee, Employer
Updated: 2 April 2020
The Cabinet approved the measures below on 24 March 2020 and 31 March 2020. They are yet to be published in the Royal Gazette.
1. A reduction in Social Security Fund contributions from 5% to 1% for employees and from 5% to 4% for employers from March to May 2020.
The deadlines for paying monthly contributions for March, April, and May have been deferred for three months. Therefore, the contributions for March must be paid no later than 15 July 2020.
Employers and / or employees can claim back any excess contributions paid from the Social Security Office.
2. Employees who have been made redundant because their employer has ceased operations due to the COVID-19 pandemic will receive 62% of their wage, capped at 15,000 baht per month, for a maximum of 90 days.
3. Employees that have had their employment suspended because of a temporary business closure as a result of a government order will receive 62% of their wage, capped at 15,000 baht per month, for not more than 90 days.
Items 2 and 3 apply only to employees who have made Social Security Fund contributions in at least 6 of the previous 15 months.
4. An increase in unemployment benefits:
- For resignation, from 30% to 45% of the wage, up to a maximum of 90 days.
- For termination, from 50% to 70% of the wage, up to a maximum of 200 days.
The cap is 15,000 baht per month.
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Mazars Payroll Flash News - March 2020
Mazars Thailand's latest flash news focuses on updates from the Revenue Department, Social Security Office, Labour Law, and other HR matters.