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:

  1. 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.
  2. 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”.

Anyways, in case you need further assistance for tax matter, please note that we could assist for such click here and we could also assist for closing down process of company click here.

For more information, please feel free to contact us:
Phone: +66 2 933 9000
Fax: +66 2 933 6120
Email: bkk@panwa.co.th