Provident Fund

[keff]

I am coming from a country where the Provident Fund is compuslory for both employee and the employer. However I have been advised that in Thailand it is not compulsory but optional.

I therefore stand to lose the PF contribution once I come to Thailand.

Is there any way I can make my company subscribe to the PF?

Thanks

[keff]

I am coming from a country where the Provident Fund is compuslory for both employee and the employer. However I have been advised that in Thailand it is not compulsory but optional.

I therefore stand to lose the PF contribution once I come to Thailand.

Is there any way I can make my company subscribe to the PF?

Thanks

and Social security is 5% in Thailand. How do we benefit from this?

Edited March 26, 2009 by keff

[TerryLH]

Soc Sec is 5%, but only up to the first 15k in salary. So your portion is 750 baht per month. Your employer matches your contribution.

You get health benefits, retirement, disability +++

It's a good deal.

[samran]

I am coming from a country where the Provident Fund is compuslory for both employee and the employer. However I have been advised that in Thailand it is not compulsory but optional.

I therefore stand to lose the PF contribution once I come to Thailand.

Is there any way I can make my company subscribe to the PF?

Thanks

are you being expatriated? If so, they should match or even continue contributing to your PF back home.

If you are coming independently, then there is probably not much you can do to contribute to the provident funds run independently by the finance houses. BUT in both cases they will contribute to the Thai social security system, which will give you access to state hospitals and some family payment benefits, amongst others. This does count to a pension here I beleive, but I don't think it is transferable back hom.

Having said that, it may be worth considering Long Term Funds, which are tax free vehicles where you can put your earnings in before tax, but must be locked up for between 3 and 5 years. Annual limit now is 500K THB which you can contribute. When you leave Thailand you can repatriate these funds (so long as they have matured) back to your home country's retirement savings.