Forvis Mazars Payroll Flash News - October 2024

On 22 October 2024, the Cabinet approved a draft notification from the Ministry of Labour to assist insured persons and employers due to severe flooding in Thailand by temporarily extending payment deadlines and reducing social security contributions for both employers and employees.

This relief measure is applicable to companies registered with the Social Security Office in 42 provinces that were significantly affected by recent floods and storms, as set out below:

If a branch located in one of these 42 provinces is not registered with the local Social Security Office, such a branch is not qualified to receive this support.

The new submission and payment deadlines for Social Security contributions for wages from September through December 2024 are as follows:
 

Social Security Fund contributions for both employees and employers from October 2024 to March 2025 have been reduced from 5% to 3%, based on wages, capped at THB 15,000.

Therefore, both employees and employers will make contributions ranging from THB 50 (THB 1,650 x 3%) to THB 450 (THB 15,000 x 3%).

However, please note that, at the time of writing (29 October 2024), the draft measures have not yet been officially published in the Royal Gazette.

Source (in Thai):

Royal Thai Government