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【THAILAND】【Newly Enacted】Employee Welfare Fund Implement in 2025
2025.01.09
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OVERVIEW A system of fund to cover employees and their families in the event of their retirement or death came into effect in November 2024. The system of a fund to be used for such compensation will begin to be collected from October 2025 for companies with 10 or more employees. However, companies that are members of certain provident funds will be exempted from the application. (Royal degree on the collection start date for the Employee Welfare Fund, announced on Royal Gazette on 15 November 2024) |
Summary of Regulations:
- Effective October 1, 2025, companies with 10 or more employees will be required to contribute from a portion of their employees’ salaries, together with the company’s share, to the Employee Welfare
- The company and employee contribution rate will be 0.25% of salary from October 1, 2025 to September 30, 2030, and will increase to 0.5% after October 1, 2030.
- The deadline for declaration and payment of the fund related to such salary is the 15th of the following month. The surcharge rate is 5% per month.
Exemption Cases:
- Companies that have a private financial Provident Fund system for all employees (contributions between 2% and 15%) are not required to join this fund.
- However, if there are employees who are not members of such a provident fund system, they must join the Employee Welfare Fund and the company is obligated to make contributions.
If there are any important updates in the future, we will post them again in our News Letter.
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