Ministry of Finance has extended the deadline for employers and employees affected by COVID-19 to temporarily halt or postpone contributions to the provident fund.

            Mr. Pornchai Teeravech, Director of the Fiscal Policy Office stated as the spokesperson for the Ministry of Finance that the Ministry has implemented measures to extend assistance to employers and employees affected by the COVID-19 pandemic, originally allowing postponement until the contribution period of December 2021. Now, they can temporarily halt or postpone contributions to the provident fund from the January 2022 contribution period until the June 2022 contribution period.

            This will allow continuous membership in the provident fund while maintaining member status under the existing principles and practices, aimed at alleviating the hardships faced by employees and employers still affected by the ongoing COVID-19 pandemic. The goal is to ensure that employees in the formal labor sector retain their membership in the provident fund and can save through it once the pandemic situation improves, providing income security and leading to financial stability in retirement.

            Additionally, the Ministry of Finance has issued a notification regarding the types of businesses, duration, and conditions for employees or employers to halt or postpone contributions to the provident fund in areas experiencing economic crises, disasters, or events impacting the economic situation (Version 4) for the year 2022, which was published in the Royal Gazette on January 21, 2022, and is effective from January 22, 2022, onwards.