Thailand: Social Security Fund contributions reduced for Jan-March 2021
The Social Security Fund (SSF) regulation reduces the rate of mandatory Social Security Fund contributions under section 33 of the SSA effective from January 1, 2021 to March 31, 2021. Contribution rates are calculated as a percentage of each employees’ monthly wages, based on a minimum monthly wage of THB 1,650 and a maximum monthly wage of THB 15,000. Based on the minimum and maximum wages allowed for calculation, the contributions would range from THB 49.5 to THB 450 per month for both the employer and the employees.