Second phase of reduction in Social Security Fund contributions
The government is planning a second phase of reducing the contribution rate to the Social Security Fund (SSF). According to the plan, from 1 September to 30 November, contributions will be reduced from 5% of salary to 2% for both employers and employees.
The final decision will be made shortly. The last day to pay contributions for September is 15 October. Before paying September contributions, employers are advised to check the applicable rate and correctly calculate the contribution amount. However, if contributions are paid at the standard rate instead of the reduced rate, employers will have the right to request reimbursement of the overpaid amount from the SSF.
We remind you that the previous reduction period was from 1 March to 31 May. From 1 June to 31 August 2020, the standard SSF contribution rate of 5% for both employers and employees was applied.
Contribution rates before and during the COVID-19 outbreak
The table below shows all changes in Social Security Fund contribution rates in Thailand implemented during the COVID-19 outbreak:
| Period | Employer | Employee |
|---|---|---|
| Standard rate (pre-COVID-19) | 5% of salary (max 750 baht) | 5% of salary (max 750 baht) |
| March – May 2020 (Phase 1) | 4% of salary (max 600 baht) | 1% of salary (max 150 baht) |
| June – August 2020 | 5% of salary (max 750 baht) | 5% of salary (max 750 baht) |
| September – November 2020 (Phase 2) | 2% of salary (max 300 baht) | 2% of salary (max 300 baht) |
Source: Tilleke & Gibbins