Starting a Business: Cost of Social Security Contribution
May 24 2010 Categories: Doing Business In Thailand No comments yet
Any employees between 15 to 60 years old and their employers must make monthly contribution to the social security. Now what are the exact costs of social security in Thailand?
Note that due the economical crisis the rate of social security deduction has been reduced until the end of 2009. The normal rate of contribution shall be once again applicable from the 1st January 2009
|
Monthly salary |
Reduced Rate Until end December 2009 |
Normal Rate From beginning January 2009 |
||
|
Employer 3% |
Employee 3% |
Employer 5% |
Employee 5% |
|
| 2,000 THB |
60 |
60 |
100 |
100 |
| 3,000 THB |
90 |
90 |
150 |
150 |
| 4,000 THB |
120 |
120 |
200 |
200 |
| 5,000 THB |
150 |
150 |
250 |
250 |
| 6,000 THB |
180 |
180 |
300 |
300 |
| 7,000 THB |
210 |
210 |
350 |
350 |
| 8.000 THB |
240 |
240 |
400 |
400 |
| 9,000 THB |
270 |
270 |
450 |
450 |
| 10,000 THB |
300 |
300 |
500 |
500 |
| 11,000 THB |
330 |
330 |
550 |
550 |
| 12.000 THB |
360 |
360 |
600 |
600 |
| 13,000 THB |
390 |
390 |
650 |
650 |
| 14,000 THB |
420 |
420 |
700 |
700 |
| 15,000 THB |
450 |
450 |
750 |
750 |
| Above 15,000 THB |
450 |
450 |
750 |
750 |
Note that social contributions are calculated on a salary up to 15,000 THB. The part of the employee salary above 15,000 THB per month is not yet subjected to social security deduction.
Note: This post is an excerpt of Rene Philippe Dubout next book: “How to Invest Safely Into Thailand” to be published in January 2010
About the Author:
The author Rene-Philippe DUBOUT is a lawyer since 1990 when he was admitted to Geneva bar (Switzerland). He practiced as a litigator there for 10 years until he moved to Thailand in 1999. In 2002 he founded with a group of Thai lawyers Rene Philippe & Partners Ltd a local law firm that specialized in Cross Borders Investments and Real Estate. He has been lecturing in several Thai Universities and a speaker to numerous conferences and seminars. He is the author of a must read book:”How to Purchase Real Estate Offshore Safely: The Case of Thailand”.
http//:www.renephilippe.com
Originally posted 2009-12-13 09:45:23.
Related posts:
- Starting a Business: Cost of Doing Business in Thailand
- Starting a Business: The One Start One Stop Investment Center
- Thailand:Labor protection
- Starting a Business in Thailand (2): The Restaurant
- Working in Thailand: The four Thai employees requirement
- Starting a Business in Thailand (3):Bar Business
- Buying a Business In Thailand – The Due Diligence
- Working in Thailand: What you need to know about work permits
