Hiring In Thailand: Insurance Policies for Employers
Employers in Thailand are required to contribute to a social security fund an amount equal to 5.20% - 6% of their salary, up to a maximum contribution of 750 THB per month. The employee is also required to contribute an amount equal to 5% of their salary, up to a maximum contribution of 750 THB per month. The employer is also required to provide health insurance for expatriate workers.
Here is a more in-depth look into insurance details and insurance coverage.
Insurance details
Employer Payroll Contributions
|
3.00% |
Pension |
|
|
1.50% |
Health Insurance (Expatriate workers will require private health cover) |
|
|
0.50% |
Unemployment |
|
|
0.20% - 1.00% |
Work Injury |
|
|
5.20% - 6.00% |
Total Employment Cost |
|
Employee Payroll Contributions
|
3.00% |
Pension |
|
|
1.50% |
Health Insurance |
|
|
0.50% |
Unemployment |
|
|
5.00% |
Total Employee Cost |
|
In Thailand, employers offer valuable insurance options to employees, including life and group medical insurance with one-year renewable terms. Group life insurance provides lump sum payouts for accidental death or permanent disability, covering 12 to 48 times the monthly salary. Group medical insurance covers reasonable medical expenses globally with 24-hour coverage, often paid for by the employer but with employee contributions for higher benefits.
The Insurance Coverage
Maternity Leave: Employees are entitled to 98 days of maternity leave, with 45 days paid at 100% of regular salary and the rest covered by Social Security. Additional benefits can be claimed from insurance providers, and employment cannot be terminated during or after maternity leave.
Long-term Disability Insurance: Employees can opt for long-term disability insurance with premium costs ranging from 0.8% to 1.2%. Plans can cover three-quarters of an employee's salary and 10% of their superannuation contribution, with a one-to-three-month wait and a five-year benefit period.
>>> See more: Employment in Vietnam
