We have plan to stop operation due to the unsuccessful sale of our product in Thailand. What are the requirements for worker’s compensation to be paid when closing the company?
Panwa: Please note that in case the Company will terminate the employee, the severance pay are as below:
- If the termination of no-fixed period employment contract, the Company should notify the employee not less than the cycle of employee pay, otherwise, the Company need to pay follow such cycle.
- The company is obliged to pay for the severance as; “employment period/rate; 120 days but less than one year/30 days, One year but less than three years/90 days, Three years but less than six years/180 days, Six years but less than 10 years/240 days, 10 years but less than 20 years/300 days, 20 years or more/400 days”.
For more information, please feel free to contact us:
Phone: +66 2 933 9000
Fax: +66 2 933 6120