Cabinet cuts employee social security contributions to 3 percent in Q4

The Thai cabinet decided today (Tuesday) to allow employees to reduce their financial contributions to the social security scheme from 5% of their salaries to 3% from October to December, according to Anucha Burapachaisri, deputy secretary-general for the Prime Minister.

He said that the same contribution will also be applied to the employers, whereas the contribution from the government will remain at 2.75% of their employees’ salaries.

Contributions to the social security scheme by earners under Section 39 of the labour law will be reduced from 432 baht to 240 baht per month from October to December.

Full Story: https://www.thaipbsworld.com/cabinet-cuts-employee-social-security-contributions-to-3-percent-in-q4/