As we well know, the compensation fund is a fund where employers contribute solely to enhance benefits for employees in the workplace. The contribution rates vary depending on the type of business or establishment, and the calculation is based on a maximum wage of 240,000.00 per year. Contributions to the compensation fund are divided into two types: annual contributions and wage report contributions.

What Benefits Does the Compensation Fund Provide for Workers?

1. Leave for 3 days or more, but not exceeding 1 year, due to illness or accidents resulting from work.

2. In the event of death due to work, beneficiaries are entitled to compensation for a period of 8 years, payable to those legally entitled, such as parents, children, spouses, etc.

3. Loss of a part of the body while performing work entitles the individual to compensation for a period not exceeding 10 years, based on the proportion of the loss of each body part according to the fund's regulations.

4. Disability entitles the individual to compensation for a maximum of 15 years, based on the rate of loss proportion.

Additional compensation rights include:

1. Rehabilitation rights in case of illness or accidents from work.

2. Funeral expenses in case of death due to work.

How Much Can We Claim from the Compensation Fund?

Workers can claim benefits from the social security compensation fund in various cases as specified by the fund at a rate of 60% of their income. The duration of benefits is determined according to the types specified above. Rehabilitation benefits are capped at 40,000 baht and a maximum of 110,000 baht. Funeral expenses will be compensated at 100 times the maximum wage rate for that year.

Benefits from the compensation fund are available only for workers with employers, as employers are responsible for contributing to the fund when they have at least one employee. This protects workers' rights beyond what is provided by social security contributions. The compensation fund is another resource that helps ensure the health and well-being of workers, providing care, rehabilitation from hospitals, and compensation from the fund, which is part of the social security office.