SSO approves flood-relief measures
The Social Security Office has approved a cut in contribution to the Social Security Fund, as one of the measures to ease flood impacts on affected companies and individual employees.
During January-June 2012, their monthly contribution to the fund would be cut to 3 per cent from 5 per cent. In the last six months of the year, the contribution would be raised to 4 per cent. Through the period, the government's contribution would stay unchanged at 2.75 per cent.
Labour Permanent Secretary Somkiat Chayasriwong, as chairman of the SSO, said that aside from a cut in contribution, the board at the Nov 29 meeting also approved a Bt10 billion soft loan programme for affected companies. Borrowers with collateral will be charged 3 per cent per annum for three years, while those without collateral will be charged 5 per cent.
The loans are aimed at boosting liquidity and ensuring no layoff, he said.
Companies which hire no more than 50 workers are eligible for loans upto Bt1 million; those with 51-200 workers, upto Bt2 million; and those with over 201 workers, upto Bt4 million. This loan is available to companies having been members of the fund for more than 3 months. Applications can be filed at Krung Thai Bank, Government Savings Bank and Islamic Bank of Thailand.
A ministerial regulation would be issued to enforce the measures, Somkiat said.
