Cabinet cuts SSF rate to ease wage cost | Bangkok Post: news

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Cabinet cuts SSF rate to ease wage cost

Labour leaders say small firms unlikely to benefit

  • Published: | Viewed: 871 | Comments: 0
  • Newspaper section: News
  • Writer: Patsara Jikkham & Penchan Charoensuthipan
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The cabinet has approved a motion to cut employee and employer contributions to the Social Security Fund (SSF) from 5% each to 4% to ease the impact of the minimum wage hike. 

Government spokesman Tossaporn Sereerak said the cabinet approved an amendment to Labour Ministry regulations governing SSF contributions to help businesses with the cost of the wage hike.

Once it is announced in the Royal Gazette, the change will take effect retroactively from Jan 1, the date the government's 300-baht daily minimum wage was enforced nationwide.

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