COVID-19 Insurance for employees and family

                  Due to the outbreak of the COVID-19 both in Thailand and around the world, the university has concerned about our staffs and approved to provide the Corona virus Insurance (COVID-19) for everyone.

                  If you wish to have the COVID-19 insurance for your family, including parents, siblings, spouse, and children, you can apply by filling the name and details here https://forms.gle/aFCBU5LSCsCJ5FNRA. by 4.30 PM, April 2nd 2020. Please note that the insurance premium rate is at 150 THB per year/person. Please find the details in the link or picture below

**** The assured need to currently live in Thailand ****

Loan for Computer Purchasing

  • For the utmost benefit of increasing work efficiency, university allow employee to borrow money to buy PC or Laptop. The borrowing amount will be as actually paid but not more than 50,000 THB per person with out interest (with 1 guarantor)

Employee can return all amount at once or can be paid in installment.

Sport Complex Membership

​The university sport complex is open to both external parties and staffs. For university employees, the university has supported a portion of the fee for employee to use the service at special service rate.

The sport complex consist of a fitness center, swimming pool, sports field with running track, football field, tennis court and gymnasium that can play other indoor sport.

Accommodations

Roon Type Description Room Rate

First 5 years

After 5 years

Single Studio Room
For single employees
Free**

฿700/month (old building)
฿2,500/month (new building)

Family Room
For employee living with spouse
Free**
฿1,300/month
Family House
For employee with family (spouse and children)
Free**
฿2,700/month

** Note : Free accommodation exclude cost of utilities**

What we

Parking Lot

Free Wifi

Washing Machine

Resting Area

Security Control

Small shop and restaurant

Provident Funds

Provident

Q1 : What is Provident Funds?

​A1: The main objective of the provident fund is that members will have funds for retirement in which members must collect money into the fund, called “savings” which is deducted from the salary at the rate specified by the member and the employer will pay the other additional part, called “contributions.”

Q2 : What benefits will members receive?

A2: 1. Saving money for retirement or after resignation.

      2. Receiving the additional contribution from the university

      3. Saving money under the management of a professional fund management company.

     4. The saving paid into the fund does not need to be calculated for tax purposes, and it can be divided into two parts as follow;

              Part 1: Being tax-deductible in the calculation of taxable income as paid, but not more than 10,000 baht per year.

              Part 2: The excess of 10,000 baht but not more than 15 percent of the salary but not more than 490000 baht 

    5. In the case of a retirement and becoming a member for at least five years or becoming disabled or deceased, the full tax exemption will be granted.

Q3: Who can apply to be a member of Provident Fund?

A3: Permanent Employees ( > 2 year contract)

Q4: Do all employees have to apply for membership?

A3: No, employees can choose whether they want to apply for a provident fund or not.

Q5: What is the rate of saving and contributions that must be remitted to the fund?

A5:      Saving rate:              4-8% of the salary (can be adjusted twice a year)

           Contribution rate:    8% of salary

Q6: Can members request to withdraw money from the fund?

A6: Only can be done when membership has ended.

Q7: When and how will members receive their savings and contributions?

A7: 1. When? Only when membership ended

     2. How? When members resign from the fund or resign from the university, conditions for receiving contributions are as follows:

Membership lifetime Contributions benefit when resigning
< 3 year
0%
3-6 years
50%
6-10 years
75%
>10 years
100%
Q8: If the member dies, who will the fund be paid?

A8: The fund will be paid to the beneficiary specified in the beneficiary specification letter by the member.

Q9: What is "Beneficiary specification letter."

A9: A letter of intent stating that if a member dies, whom the member wishes to give the fund to? After becoming a member, the beneficiaries can be changed as the member wished anytime.

Q10: How will funds be received at the end of membership?

A10: A/C Payee Only

Q11: How can members get information about their funds?

A11: The fund management company will prepare a fund reporting report individually, notifying members twice a year (In June And December every year)

Q12: Who is a fund management company?

A12: Fund management companies are banks or financial institutions or legal entities that are licensed to manage provident funds under the law.

Q13: At present, who is a fund management company of Walailak University?

A13: Kasikorn Asset Management Company Limited since July, 1st 2012

Q14: How many types of investment policies can members choose? Also, what are the policies?

A14:               1. Short Term Fixed Income Gov. and Financial Institute.

                       2. Fixed Income 100%

                       3. Mixed Equity not greater than 10%

                       4. Mixed Equity not greater than 25%

                       5. Mixed Equity and FIF not greater than 25%

                       6. Equity fund

Q15: Can members change their investment policies?

A15: Yes, but not more than twice. The change will take effect every July and January of every year and must notify at least two months in advance.