Cabinet cuts social security contributions by 1% | Bangkok Post: business

Business > News

Cabinet cuts SSF contributions by 1%

The cabinet has approved a proposal to cut employee and employer contributions to the Social Security Fund (SSF) by 1% each, down to 4% from the current 5%.

Padermchai Sasomsap (Photo by Pattanapong Hirunard)

Labour Minister Padermchai Sasomsap said after the cabinet meeting on Tuesday the measure is aimed at minimising the impact of the government’s 300 baht daily minimum wage nationwide policy on manufacturers, which took effect from Jan 1.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

Most Viewed

  • Russian attacked by Pattaya bikers

    The Russian owner of a resort on Phangan Island was attacked by a group of bikers, including apparent transsexuals, in Pattaya because he "refused to let them park their motorcycles".

Forum

image

Your comments

  • onlyme

    BotswanaPost : 442

    Send message

    Discussion 3 : 29 Jan 2013 at 20.133

    Not a knock on the concept, only a question of where does the money come from to compensate the cost? What is the previous, current and future budget surplus and how were the figures arrived at?

  • 30+YearResident

    ThailandPost : 46

    Send message

    Discussion 2 : 29 Jan 2013 at 19.522

    While this guy is trying to generate ways to lessen various burdens on SME's, I can still never figure out why the "kadiet" who drafted the original Social Security Fund Act, put the cap on contributions at only 15,000 Baht per month for calculations of employee & employer contributions. Not to mention my own salary, my staff have always earned well more than this and would, together with myself as employer, be very happy to contribute what ever the going rate is of contributions to the Social Security Fund based on real salary so we could realize full benefit of this when we reach retirement age. Who can possibly live on 500 Baht/month?

  • pete

    ThailandPost : 452

    Send message

    Discussion 1 : 29 Jan 2013 at 19.001

    10) It will reduce the amount the employee receives for his pension upon retirement.

Reply

Sign in once and access every part of the website at your convenience!

Please log in to our Bangkokpost.com community to post your comment.
You can sign in to the community by clicking here.

If you are not part of the community yet, please sign up here. By being part of this community you will get all these privileges.