Many companies are closing their offices and allowing employees to work remotely from home online. But what should those do whose work has essentially disappeared due to the outbreak? What should business owners do with employees for whom there is no work?
On Friday, the Social Security Fund approved the compensation amount for employees registered with the Fund (who have paid contributions for at least 6 months within a 15-month period) who have stopped working due to coronavirus. The rules apply starting from 1 March 2020.
The compensation amount is calculated based on the monthly salary, but not exceeding 15,000 Baht.
If a company suspends operations due to the virus, the Fund pays 50% of the salary, with a maximum compensation period of up to 180 days:
15,000 x 50% = 7,500 Baht per month, total not exceeding 45,000 Baht
If a company’s operations are suspended by order of government authorities, the Fund pays 50% of the salary, with a maximum compensation period of up to 60 days:
15,000 x 50% = 7,500 Baht per month, total not exceeding 15,000 Baht
In the case of employee termination, the Fund pays 70% of the salary, with a maximum compensation period of up to 200 days:
15,000 x 70% = 10,500 Baht per month, total not exceeding 70,000 Baht
If an employee resigns voluntarily, the Fund pays 45% of the salary, with a maximum compensation period of up to 90 days:
15,000 x 45% = 6,750 Baht per month, total not exceeding 20,250 Baht
Self-employed individuals who are not registered with the Social Security Fund, in case of business suspension, will be entitled to compensation of 30% of salary, with a maximum compensation period of up to 90 days:
15,000 x 30% = 5,000 Baht per month, total not exceeding 15,000 Baht
The employer must complete a form on the Social Security Fund website declaring the suspension of office operations due to force majeure, after which employees will be eligible to apply to the Fund for compensation.
For further details, please contact +66 87 348 5703.