Social security contribution cut to 0.5% for 2 months
Employers’ contribution rate remains at 3%
Monthly contributions by salaried employees to the Social Security Fund will be further cut for two months to 0.5% of their salaries from a reduced rate of 3% previously.
Labour Minister Suchart Chomklin said on Monday the cabinet had approved the deduction for February and March as part of its Covid-19 relief measures.
Employers, meanwhile, will continue to contribute 3% over the next two months, a reduction from 5% approved on Jan 19.
Mr Suchart did not mention whether the rate for the…
