Legal Updates: Recent Legal Changes Affecting Business
Social Security Contribution Payment through Electronic Channels
The Social Security Office has developed an electronic payment system by partnering with external units in providing payment and receiving services, so that employers and insurers are facilitated with convenience and speed, and are not required to visit the Social Security Offices. There is also a system to validate information to reduce risks and prevent corruption or mistakes occurring during receiving and paying money. The initiative aligns with the government’s policies in developing Thailand’s payment chan- nels to become electronic ( e- payments). As of June 2, 2016, employers are able to choose from various payment methods for paying social security contributions.
Payment can be made at bill payment counters in three banks, including Krung Thai Bank, Krungsri Ayudhya Bank and Thanachart Bank. Once payment is made, the employer will immediately receive a receipt. Employers can also pay by e- payment methods through seven banks including Citibank, Mizuho Corporate Bank, Krungsri Ayudhya Bank, Sumitomo Mitsui Banking Corporation, Siam Commercial Bank, Kasikorn Bank and Krung Thai Bank. Employers can register to provide information on contributions via the Social Security Office’s website at www. sso. go. th, and can open a savings accounts in addition to making payments through electronic channels at the listed banks. Once paid, the respective banks will post the receipt to the employer.