Social Security Fund Contribution Rates Are Reduced in Response to Covid-19

On 27th September 2021, the Ministry of Labour issued its Ministerial Regulation on Rates of Contributions to the Social Security Fund under the Social Security Fund Act B.E. 2533 (A.D. 1990) to set out new social security fund contribution rates in response to the Covid-19 pandemic.  The objective of the new rates is to reduce the contribution burdens of the Government, the employer, and the employee (the insured person). The new rates replace their predecessors re-troactively effective from 1 September 2021. The new contribution rates are shown in the table below.  They are based on the monthly base salary of the employee, subject to the maximum amount of the base salary to be used as the basis for calculating the contribution amounts is THB15,000.

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