Thailand: Cabinet cuts social security contributions from 5% to 2.5%

The Cabinet on Tuesday halved both employers’ and employees’ social security contributions from September to November.

The aim is to alleviate the financial burden of business owners and their employees during the Covid-19 situation,” Labour Minister Suchart Chomklin said on Wednesday. “Monthly employee contributions under Article 39 of the Social Security Act will be cut from 432 baht to 235 baht.”

Article 39 applies to those who have stopped working but wish to maintain their social security benefits.

Social Security Office secretary-general Thossaphol Kritwongwiman said this measure should help up to 480,000 businesses and 13 million employees.

For more information on social security or labour-related issues, call Labour Ministry’s 1506 hotline. 

Published : September 22, 2021

Source: The Nation