The chamber has received from our corporate member Tilleke & Gibbins the following update regarding notification about reducing required Social Security Fund contribution rates due to COVID-19 situation.
Thai government has issued a new notification to reduce required Social Security Fund contribution rates to 2% for a period of three months. The notification has been approved by the cabinet and is expected to be in use soon.
The first phase of temporary assistance measures for the SSF contribution rate ended in May 2020, after which the original SSF contribution rate was applicable through August 2020. The new cabinet resolution will provide assistance measures to employers, employees, and insured persons once again.