Thailand

Last Update by Julie, 04 Oct 2024

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Exchange Rate

10 Oct 2024

 

Cost of Living

Indicative value for a working adult in a city: Bangkok

Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff

Living Requirement Indicative Amount (THB)
McDonalds Set Meal 200
Monthly Train and Bus Tickets 1,200
3 Bedrooms Rental (City Center) 58,350
3 Bedrooms Rental (Outskirt) 31,750

Current Inflation Rate

0.43%

Wage

Minimum Wages

  • Minimum wage per region 328 THB -354 THB per day, or 9000 THB to 10000 THB per month

Median Salary

Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.

Job Level Monthly Salary (THB)
Entry-Level
Fresh Graduate
 9,000
Mid-Level
5 Years
 17,000
Experienced & Managerial Level
10 Years
 25,000
Specialized & Senior-Level
15 Years
 >60,000

Annual Salary Growth

4%

Statutory Contribution

The contributions deadline: by the 15th day of the following month salary is paid.

Country Level

Type Employer Rates Employee Rates Notes
Social Security Fund 5%, capped at 750 TBH 5%, capped at 750 TBH All staff
Work Injury 0.2% - 1% 0% All staff, varies by risk.
Disability Fund 100.38 TBH - All staff

Other Benefit

Other common employment benefits in Thailand include:

  • Additional medical and dental insurance: About 40,000 THB/year
  • Provision Fund: volunteer contribution for both employee and employer
    1st 3 years: 3%
    Year 4-6: 5%
    Year 7-9: 7%
    year 10 onwards: 10%

Income Tax

Residents

  • Tax Period: 1st January to 31st December of the previous year
    Tax filing start date: 1st February of the following year
    Tax filing due date: 31st March of the following year

Country Level

Taxable Income Rate
0 - 150,000 0%
150,000 - 300,000 5%
300,000 - 500,000 10%
500,000 - 750,000 15%
750,000 - 1,000,000 20%
1,000,000 - 2,000,000 25%
2,000,000 - 4,000,000 30%
> 4,000,000 35%

Non-residents

  • Same rate to tax-residents, but only subject to the income from Thailand

Working Hours

Statutory

48 hours
8 hours a day, 6 days a week

Typical practice

48 Hours
Monday - Saturday

Overtime

The maximum number of overtime is 36 hours a week

  • Monday to Friday :150% of hourly regular pay
  • Saturday/rest day: 200% of hourly regular pay
  • Public Holidays: 300% of hourly regular pay

Employment Contract

Permanent

Contract Format

Can be verbal or in writing. Bilingual Thai contracts in other languages are permitted and issued before employment begins

Payroll Currency

THB

Probation

Up to 119 days

Contract Period

No minimum duration

Termination

  • Notice during probation for staff and employers:
    - No notice
  • Voluntary resignation:
    - 30 days' notice
  • Involuntary Termination:
    - 30 days' notice
  • Severance:
    - Staff with over 120 days service are eligible
    - Over 120 days- 1 year service: 30 days’ wages
    - 1 year - under 3 years' service: 90 days’ wages
    - 3-6 years' service: 180 days’ wages
    - 6 - under 10 years' service: 240 days’ wages
    - Over 10 years' service: 300 days’ wages

Public Holiday

19 days

Country Level

Date Name
01 Jan - 02 Jan New Year's Day
10 Feb Chinese New Year's Day
24 Feb - 26 Feb Makha Bucha
06 Apr - 08 Apr Chakri Memorial Day
13 Apr - 16 Apr Songkran Festival
01 May National Labor Day
04 May - 06 May Coronation Day
22 May Visakha Bucha Day
03 Jun Birth of Queen Suthida
20 Jul - 22 Jul Asahna Bucha Day
28 Jul Birth of the King
12 Aug Birth of the Queen Mother
13 Oct - 14 Oct King Bhumibol Adulyadej Memorial Day
23 Oct King Chulalongkorn Day
05 Dec Birth of King Bhumibol Adulyadej
10 Dec Constitution Day
31 Dec New Year's Eve

Leave

Leave Type Entitlement Notes
Annual Leave 6 working days All staff with 1 year service
Sick Leave Unlimited, but only 30 days per year are fully paid by employer. All staff with a medical certificate
Maternity Leave 90 working days
First 45 days – 100% of basic salary pay by the employer.
Subsequent 45 days – 50% of basic salary pay by Social Security Fund 		Expectant mothers
Sterilization Leave Depends on medical certificate
100% paid by employer 		All staff - leave determined by a certificate issued by a first-class physician.
Military Service Leave up to 60 days
100% pay by employer 		All staff
Training Leave Depends on days of the trainings All staff attending training/ development of knowledge and skills in accordance with procedures prescribed in the ministerial regulations
Personal Bank/Business Leave Up to 3 days per year
100% pay by employer 		All staff

Reference

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