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If you are interested in hiring a remote team in Thailand, or even just individual remote employees in Thailand, then you have come to the right place!
Rivermate is an Employer of Record (EOR) that offers Thailand payroll solutions. As a Thailand payroll provider, we will cover everything from salary, benefits, employer-to-employee contributions, and especially payroll compliance in Thailand. We are confident Rivermate’s payroll solutions Thailand will help you grow as a business—because now, you won’t have to worry about your payroll solutions Thailand. We take care of everything payroll!
With Rivermate, you can run Thailand payroll services in just one click—regardless of currency, benefits, insurance, and your local labor laws. Everything is automated. Our priority is for you to focus on your company’s strategy and growth.
Our Rivermate Global Payroll services are made especially for startups and scaleups. We know that startups try to be extra prudent when it comes to choosing a payroll provider, so it is our mission at Rivermate to be your most reliable and cheapest payroll provider option. So if you’re looking for global payroll providers for small businesses, look no further and book a call with us now!
Once you've determined the best Thailand payroll option for your company, you'll need to collect some information from employees in order to add them to your payroll. Begin by acquiring their personal identification number, tax deduction card, and emergency contact information. When an employee begins working and provides you with their tax deduction card, they become a part of the social security system and are eligible for benefits.
Employers must register new employees with the Social Security Administration. Thailand's social security fund lowers the risk of medical costs, child allowance, sickness, maternity, death, invalidity, old age, and unemployment. Employers and employees both contribute 5% to the social security system.
Companies must also pay a corporate income tax, which is typically 20%. However, the rate can vary depending on the size of the company, your profits, and whether you're publicly traded. Thailand has a progressive income tax system, which means that employees will owe more as their salary increases.
Companies that wish to expand their operations globally have four different payroll options in Thailand. These payroll options are:
1. Internal Payroll. This payroll option is applicable for already established companies in Thailand. It includes devoting an entire Human Resources staff to running the company's payroll procedures.
2. Remote Payroll. Smaller firms may lack the capacity to handle their own payroll, but they may add their workers to the parent company's payroll. This action, on the other hand, requires considerable thinking. You must guarantee that you follow the rules and laws of each nation.
Working with a local outsourcing firm is one method to retain money in the local economy, but you'll still need to study all of the local rules and regulations, since you'll be held responsible.
3. Thailand payroll outsourcing: Outsourcing your payroll to an Employer of Record in Thailand, such as Rivermate, is another alternative for Andorra payroll outsourcing. We can manage all aspects of your payroll, including compliance. Send us a note and we'll get back to you as soon as possible!
It is the obligation of the employer to ensure that all payroll-related transactions are properly documented and recorded. All salaries and compensation payments must adhere to the local minimum wage as well as other applicable laws and regulations.
Rivermate's payroll services in Thailand can assist you in staying in compliance with the country's ever-changing payroll rules. We provide an all-inclusive solution that covers everything from compliance and reporting to salary payments.)
Companies that have a business presence in Thailand have different ways of managing payroll. However, most of the options you have for running payroll in Thailand are either expensive or require establishing a subsidiary in Thailand. The cheapest, most efficient, and most reliable payroll processing system in Thailand is by outsourcing payroll to Employers of Record (EOR) in Thailand. Rivermate is one of those Employers of Record.
At Rivermate, we offer you the most efficient, most compliant, and cheapest HR and Payroll Management services in Thailand. We do this by taking care of your payroll-related needs, such as keeping track of your employees’ financial records, including incentives, gross and net salary, and payslips, all the while staying compliant with the labor laws in Thailand. Because we do your online payroll management for you, you can have absolute focus on your business’ strategy and growth.
Rivermate is all about growth through collaboration and we achieve this by offering the most reliable yet cheapest services for managing payroll for small businesses in Thailand.
An employment contract may be cancelled by either the employer or the employee at the conclusion of the contract period (if the employment contract is for a specified time). Employers may fire an employee for cause or misconduct without providing notice or paying severance. In any other case, the employer is required to provide notice. The notice time is determined by the employee's pay interval, which may not exceed three months. Severance pay ranges between 30 and 300 days, depending on the duration of employment of the employee.
The daily minimum wage in Thailand varies according to location, ranging from 313THB to 336THB.
The maximum daily work hours are eight, for a total of 48 hours per week. Employees performing hazardous tasks work seven hours per day for a total of forty-two hours per week.
Employees are provided with a one-hour rest period during the workday. They can divide their rest period into segments, with a minimum of 20 minutes and a maximum of an hour. If the employee is performing work where interruptions could jeopardize production or quality, the employer may require the employee to work without breaks. Consent of the employee is required in this case.
Thailand provides universal healthcare via three systems: the civil welfare system for government workers, social security for private employees (expats and nationals), and a universal health plan accessible to all other Thai citizens.
Employees are assigned a local hospital where they may get free treatment from the social security fund. The quality of treatment varies across hospitals, and many are overcrowded and lack a customer service approach.
As a supplementary benefit, a company may offer supplemental health insurance to an employee. Most executives and expats seek additional health and life insurance, and a small business may offer a stipend in place of obtaining insurance.
While not required, a provident fund is a popular employer perk that encourages retirement savings. Employer contributions must always be equal to or higher than employee contributions.
Employee contributions are advantageous since they are pre-tax. Employee contributions will be treated as pre-tax savings deposits. The contribution rate should be no less than 2% but no more than 15% of earnings (depending on an agreement between the employer and the trustee). Employer payments will be treated as a subsidy to employees. The benefit offering may be made subject to a variety of criteria, including working time, membership, job title, and pay rate.
In the event of retirement or termination, the Provident Fund's cumulative balance will be paid in a lump payment at the end of the membership period.
