Labour Minister Mr. Suchart Chomklin reported that the Social Security Board agreed to reduce the contributions for both employers and employees to 2.5% for three months from June to August 2021, to alleviate the suffering of insured persons from the impact of Covid-19. The proposal will be presented to the Cabinet next week.
On May 14, 2021, Labour Minister Mr. Suchart Chomklin reported that the Social Security Board approved the Draft Ministerial Regulation Prescribing Contribution Rates to the Social Security Fund B.E.… to reduce the contributions for both employers and employees insured under Section 33 from the current 5% to 2.5% of wages. Insured persons under Section 39 will contribute 216 Baht per month. The changes will be effective for three months, from June to August 2021. From September 2021 onwards, contributions will return to the usual rates. This effort aims to alleviate the suffering of insured persons affected by the third wave of Covid-19 outbreaks. The proposal will be presented to the Cabinet within next week.
Mr. Suchart continued that this reduction of contributions will benefit 485,113 employers, 11,164,384 insured persons under Section 33, and 1,832,500 insured persons under Section 39. The reduced contributions could be used to boost liquidity during the economic crisis caused by the Covid-19 pandemic, from June to August 2021, totaling 20,163 million Baht. The effort also reduces the financial problems of employers and insured persons. As a result, the quality of life of the insured persons improves, thereby maintaining the employment level among employers.
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Division of Public Relations
14 May 2021
