Rajah & Tann Regional Round-Up
your snapshot of key legal developments in Asia
 Issue 2 - Apr/May/Jun 2021
 

Reduction of Social Security Fund Contributions Rate to Ease Impact of COVID-19 Outbreak

On 28 May 2021, the Royal Gazette published "Ministerial Regulation Prescribing the Social Security Fund Contribution Rate B.E. 2564 (2021)" to help individuals and businesses cope with the financial challenges that they face during the COVID-19 pandemic.  Under the Regulation, the employers' and the employees' contributions to the Social Security Fund have been reduced from 5% to 2.5% of the employee’s monthly wages from 1 June 2021 until 31 August 2021.  



Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice.

 

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