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The Cabinet agreed to reduce social security contributions to 2% for 3 months from September to November, hoping to reduce the burden on policyholders and employers. Increase cash flow in the economy.
On September 1, 2020, Ms Ratchada Thanadirek, Deputy Spokesperson for the Prime Minister’s Office announced today after the Cabinet meeting (Cabinet) that the Cabinet approved the draft convocation of the Ministry of Labor on rules, procedures and conditions for the reduction of employer and insured contributions. The 2019 Coronavirus (COVID-19) outbreak case is part 2 after receiving help in March. This will reduce contributions to the social security fund. Both the employer and the insurer under Section 33 leave 2% of the insured person’s salary. As for the insured person, Section 39, contributions to the Social Security Fund at the rate of 96 baht per month, from the original 432 baht for a period of 3 months from the salary period from September to November 2020.
For this reduction in contributions The Ministry of Labor thinks about the benefits that will arise, which is to reduce the burden of 12.79 million insurers, which is equivalent to 1.3 billion baht and 4.87 thousand employers, or 1, 1 billion baht. To increase the turnover in the economy they add up to 24 billion baht, moreover, if the money that will save the insured person Section 33 averages 1,022 baht while the insured person section 39 an average of 1,008 baht during a period of 3 months .
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