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In brief

As part of the measures to help ease the impact of the rise in fuel prices, the Cabinet, on 29 March 2022, approved, in principle, the reduction of the contribution rate to the Social Security Fund (SSF).


Previously, the monthly contribution rates of employers and employees to the SSF were reduced to 2.5% to alleviate the burden for both employers and employees due to the pandemic, as per our previous article. The rate then went back to the original rate of 5% on 1 December 2021. 

This new measure, once the regulations are issued, will reduce the monthly contribution rates of employers and employees from 5% to 1% of wage applicable for three months starting from May until July 2022, to help reduce the cost of living for employees and costs for employers through the SSF system.

The relevant government agencies have been tasked to prepare for the issuance of required regulations to implement the above measure as soon as possible. Thus, it is still pending formalities. We will keep you posted on further developments on this matter.

Author

Suriyong Tungsuwan joined Baker McKenzie in 1982 and became a partner in 1993. He is active in the areas of corporate and commercial law, mergers and acquisitions, real estate and property development, labour, employment, executive transfers, and trade regulations and customs.

Author

Nam-Ake Lekfuangfu is a partner of the Labour and Employment practice group in Bangkok. Over 10 years of experience, his extensive legal expertise, combined with insights on industrial knowledge and practices have contributed to him being named a “Next Generation Lawyer for Labour and Employment” in Thailand by Asia Pacific Legal 500 in 2019. Mr. Lekfuangfu was lead lawyer for a wide range of employment matters involving high profile clients. He assists clients on employment and immigration work, ranging from day-to-day advice to complex matters, such as advising on employment trends impacting employers globally, including global mobility, the use of a modern workforce, and addressing the gender pay gap.

Author

Theeranit joined Baker McKenzie in 2013 and is active in the Corporate and M&A and Labour and Employment practice groups. He focuses on labour law and trade regulations Theeranit has advised and assisted various multinational companies on a wide range of issues that concern labour and commercial and trade laws.

Author

Napatsorn Pureethip is a Legal Professional in Baker McKenzie’s Bangkok office.

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