You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

March 27, 2020

Thailand to Temporarily Reduce Social Security Contributions for Both Employers and Employees

Subscribe to Updates

Due to the economic impact of COVID-19, the Board of the Social Security Office has agreed to reduce the rate for both employee and employer contributions to the Social Security Fund.

On March 23, 2020, it was announced that there would be a reduction from a 5% contribution to a 4% contribution, for both employees and employers, for a period of six months, commencing in March and ending in August.

However, at a cabinet meeting on March 24, 2020, the contribution rate was then revised further, reducing employee contributions to 1%, for a period of three months, commencing in March and ending in May. Employer contributions remain at 4%, but only from March to May. The earlier announcement is no longer in effect.

Following these reductions, employee contributions to social security are now 1% of salary, with a maximum contribution of THB 150 per month, for March, April, and May. Employer contributions are set at 4% of salary, with a maximum contribution of THB 600 per month, for March, April, and May. 

As the situation is changing rapidly, further changes are certainly possible, and we will keep you updated as the situation develops.

Related Professionals

Practices

Employment

Location

RELATED INSIGHTS​ 

April 13, 2020
On April 7, 2020, the Immigration Department of the Lao Ministry of Public Security issued Notification No. 740 announcing updated regulations relating to the renewal of permits and visas which may expire during the lockdown period. The notification came into effect on the same date.
Read More
April 10, 2020
Following the announcement of a state of emergency on March 26, 2020, Thailand has put in place several measures that limit international travel as part of its efforts to stop the spread of COVID-19, including the closure of land borders with neighboring countries and the prohibition of arrivals by almost all international commercial passenger flights. These measures have left many non-Thai citizens in the country in a difficult position, due to the potential expiry of visas during a period when travel is being widely restricted.
Read More
April 10, 2020
Faced with the specter of corporate liquidity problems brought about by the COVID-19 pandemic, the Thai government and the Bank of Thailand (BOT) have announced an array of measures to assist small and midsize enterprises (SMEs) affected by the COVID-19 pandemic. The measures range from preemptive financial support, to debt moratoria, to the granting of low interest financial assistance.Below is a chronological summary of the measures as at April 7:
Read More