MaakSiDa Posted February 19, 2004 Report Share Posted February 19, 2004 What is the Social Security withholding (as a percentage of your salary) in 2004 for employees of Thai companies ?? Link to comment Share on other sites More sharing options...
whosyourdaddy Posted February 20, 2004 Report Share Posted February 20, 2004 I got stung with a huge tax bill today. Ouch. I have 2003s info. at my office if that would help. Will try and remember to look it up But I think it is not over 5% of wages or 15,000 Bht per month Link to comment Share on other sites More sharing options...
Guest Posted February 20, 2004 Report Share Posted February 20, 2004 After deducting the standard or itemized deductions, and the applicable allowances from gross income, the resulting net income is taxed at the rates shown in the following table: Net Annual Income (baht) Tax Rate 0-50,000 > 0 50,001-100,000 > 5% 100,001-500,000 > 10% 500,001-1,000,000 > 20% 1,000,001-4,000,000 > 30% >4,000,000 > 37% The tax rate on the joint income of spouses is the same as that applicable to persons filing individual returns; the incomes of both spouses are treated as accruing solely to the husband. However, if both spouses have employment income, each spouse may elect to file a separate tax return. In that event, each employed spouse is entitled to a separate standard deduction and the personal exemption of each spouse will then be Baht 30,000 plus Baht 7,500 for each dependent child (or 8,500 if school allowance is applicable). In the case where an individual has a gross income of more than Baht 60,000, excluding income under Section 40 (1) of the Revenue Code (employment income), the income tax payable must not be less than 0.5 per cent of that gross income. Link to comment Share on other sites More sharing options...
ThaiHome Posted February 20, 2004 Report Share Posted February 20, 2004 He wasn't asking for the income tax, he was asking what the employee's contribution is to Thailand's version of Social Security. I think it may be called the Provident Fund (or is that Singapore?) or something. TH Link to comment Share on other sites More sharing options...
Guest Posted February 20, 2004 Report Share Posted February 20, 2004 Ooops, my fault. Here's the relevant then Social security The Social Security Act 1990 and its amendment, the Social Security Act (No. 2) 1994 require all employers with 10 or more employees to withhold social security contributions from the monthly wages of each employee. The prescribed rate applied to the monthly wages is 4.5 per cent. However, the maximum monthly wage base on which the above rates are applied must not exceed 15,000 baht. The employer is required to match the contribution from the employee. The contributions of both the employer and employees must be remitted to the Social Security Office within the 15th day of the following month. Employees with social security registration may file claims for compensation in case of injury or illness, disability or death which is not due to the performance of their work, and for cases of child delivery, child welfare, old age pension and unemployment. The social security contributions are envisaged to rise as the benefits to be provided to employees are increased. Link to comment Share on other sites More sharing options...
Pom Michael Posted February 20, 2004 Report Share Posted February 20, 2004 As of 1 Jan 2004, the actual amount is: 3.0% (Old age-retirement) 1.5% (Insurance/Death) 0.5% (Unemployment) So a total of 5%. Maximum of 15,000 baht as the base, so every month THB 750 comes out from the paycheck. If I work 15 years I wonder how much of a retirement pension I can expect ? Cheers! Link to comment Share on other sites More sharing options...
Guest Posted February 20, 2004 Report Share Posted February 20, 2004 Thanks for the most current info PM I would think you could retire in style in 15 years........... trick is which style. So how much is the 'death benefit' ? Link to comment Share on other sites More sharing options...
khunsanuk Posted February 20, 2004 Report Share Posted February 20, 2004 Hi, Pension? Unemployment? Did not know the government paid for either. (except pension for government employees) Never heard of anyone getting unemployement benefit. Sanuk! Link to comment Share on other sites More sharing options...
Guest Posted February 20, 2004 Report Share Posted February 20, 2004 unemployement benefits are paid only six months. and only for people who have a proper contract. which excludes the vast majority of the population here. Link to comment Share on other sites More sharing options...
Pom Michael Posted February 20, 2004 Report Share Posted February 20, 2004 Fly, Has nothing to do with a "proper contract", only if you have a work permit and pay taxes. You should have the following documents: Work Permit Tax ID Card Social Insurance Card Medical Service Card These four items are very important and you should check that you make copies of them all for your records. KS, the "Unemployment" portion only started to be collected this year (2004), so I don't know when actual benefits will be started. Cheers! Link to comment Share on other sites More sharing options...
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