On November 7, Thai Labor Minister Pipat Ratchakitprakarn announced financial relief measures for employers and insured workers affected by severe flooding in 42 provinces. The measures, approved by the Cabinet on October 22, 2024, include temporary reductions in Social Security contribution rates and extended deadlines for payment submissions.

  1. Reduced Contribution Rates: For six months (October 2024 - March 2025), employers and employees under Section 33 will see a reduction from a 5% contribution rate to 3%, reducing contributions for a 15,000 baht salary from 750 to 450 baht per month. For Section 39 insured individuals, the rate drops from 9% to 5.9%, reducing the monthly contribution from 432 to 283 baht.
  2. Extended Payment Deadlines: Deadlines for monthly Social Security contributions for the September to December 2024 periods have been extended by three months to support affected businesses. For example, the September contribution, originally due by October 15, 2024, can now be submitted by January 15, 2025.

The Deputy Secretary-General of the Social Security Office, Marasri Jairangsi, stated that these measures could relieve employers and insured workers of over 7 billion baht, with about 3.4 billion benefiting employers and 3.7 billion benefiting insured individuals. The Social Security Office is expediting the legal framework to ensure timely assistance and prevent payment delays. Minister Pipat and Permanent Secretary Boonsong Thapchaiyuth emphasized that these steps reflect the government’s commitment to supporting flood-affected workers and businesses.