Provident Fund Benefits

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	Provident Fund Benefits

A provident fund gives benefits to both employers and employees.





	Benefits for Employers
	Employers can use the benefits of a provident fund to attract and retain valuable staff. The contributions can be treated as expenses to reduce corporate income tax by up to 15 percent of the company's total wage expenses. It relieves a company from the burden of managing its own fund. It help employers create liquidity. Employees are motivated to work longer term for the company.

	Benefits for Employees
	It is a secure savings plan. Employees and their families are eligible for income in the case of death, disability or retirement. Contributions are tax deductible for a maximum amount of 300,000Bt per annum. The company will also match staff contributions each month. Income generated by the fund is tax exempt. However, it depends on regulations of Revenue Deparment. Provident funds follow a low risk investment strategy. The funds are managed by Bangkok Bank's professional fund management team.














	*Fund investments have certain risks so investors should study all information before making decisions.

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