On 18 May 2021, the Cabinet approved in principle for the Draft Ministerial Regulation on Social Security Fund Contribution Rates  B.E. …. (“Draft Ministerial Regulation”) proposed by the Ministry of Labour in order to alleviate challenges faced by the insured employees and employers affected following the spread of COVID-19. The Draft Ministerial Regulation will be referred to the Council of State for further considerations. 

Summaries of the Draft Ministerial Regulation are as follow:

1. The Draft Ministerial Regulation will repeal the Ministerial Regulation on  Social Security Fund Contribution Rates B.E. 2563 (2020) and the Ministerial Regulation on  Social Security Fund Contribution Rates  (No. 2) B.E. 2564 (2021).
2. The Draft Ministerial Regulation will set the new rates of contribution to the social security fund which will be in force for 3 months starting from 1 June 2021 to 31 August 2021. The new rates are to be specified as follow:
   • The employers and the insured employees under Section 33 of the Social Security Act B.E. 2533 (1990) will contribute to the social security fund at the rate of 2.5% of the insured employees’ wages. The government’s contribution will remain at the rate of 2.75% of the insured employees’ wages.
   • The contribution for compensation fund related to injury, sickness, disability, death and childbirth will be at the rate of 1% of the insured employees’ wage for insured employees, employers and government.
   • For contribution for benefits to children of the insured employees and old age pension, the contribution rate of the employers and insured employees under Section 33 will be at the rate of 1.25% of the insured employees’ wage; the government’s contribution rate will be at 1.5% of the insured employees’ wage.
   • The contribution for the unemployment fund will be at 0.25% of the insured employees’ wage applied to all insured employees, employers and the government.
3. From 1st September 2021, the contribution rate will be revised to the new rates as follows:
   • The contribution for compensation fund related to injury, sickness, disability, death and childbirth will be at the rate of 1.5% of the insured employees’ wage for all insured employees, employers and government.
   • For contribution for benefits to children of the insured employees and old age pension, the contribution rate of the employers and insured employees under Section 33 will be at the rate of 3% of the insured employees’ wage; the government’s contribution rate will be at 1% of the insured employees’ wage.
   • The contribution for the unemployment fund will be at 0.5% of the insured employees’ wage applied to all insured employees and employers and the government’s contribution will be at the rate of 0.25%

This Draft Ministerial Regulation is expected to be enacted and become enforced shortly.