AMENDMENT OF PF: EMPLOYEES CAN CONTRIBUTE HIGHER THAN THEIR EMPLOYERS
(Doc ID 2062914.1)
Last updated on MAY 11, 2018
Applies to:PeopleSoft Enterprise HCM Global Payroll Thailand - Version 9.1 and later
Information in this document applies to any platform.
As per the announcement of Provident Fund Act B.E.2558 (No.4) section 10, from November 2015 employees can contribute to PF from 2% - 15% of their salary, i. e. employees can contribute to PF higher than the employer rate.
To comply with the legislation, the validation that the employer contribution rate must not be lower than employee contribution rate needs to be removed.
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