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Provident Fund

Employees are eligible to join the contributory employee provident fund, Provident Fund Scheme (PFS), organized by Webster University Thailand (WUT). WUT will match employee contributions subject to a maximum, dependent on WUT’s financial position. The maximum employer contribution was announced at the start of the Provident Fund Scheme (PFS), 2011. Any contribution adjustment for any fiscal year shall be advised from time to time. The PFS eligibility guidelines and other details are as follows:

Only full time employees and faculty members (contracted) can voluntarily apply to join the fund after completion of one year of service;

Full time employees and faculty members (contracted) are required earn a minimum of 10,000 Baht per month to be eligible to participate in the PFS plan.

WUT will match employee contributions to the provident fund. Employees can opt to contribute to the fund at a rate of 5 or 10 percent of basic salary. Full-time employees who have been with WUT for more than 5 years can contribute up to 15% of their basic salary. An employee can opt out from joining the PFS.

  1. Fund members can select a fund of their choice from the PFS portfolio provided by the WUT fund provider; namely, Krungsri Asset Management Company.
  2. Fund members are allowed to switch funds; however, all expenses relating to such switching are to be borne by the fund member. Switching is permitted once a year from the 1st to the 31st of December of every calendar year;
  3. Any member who withdraws from the PFS before completing two (2) years in the Provident Fund will receive only his or her own share plus any interest accrued by the PFS;
  4. Fund members will receive 100% of the contribution and any benefits from both employer and employee PFS after a completion of two (2) years in the PFS;
  5. Annual contribution to the PF is tax deductible;
  6. Fund members who withdraw from the PF prior to the completion of 5 years in the fund and/or before reaching the age of 55 years will be required to pay tax on their contributions within the relevant calendar year. Both conditions have to be fulfilled to avoid paying taxes;
  7. If fund members wish to continue or maintain the fund with any new employer, they can request the WUT PFS fund manager to do so by paying a 500 baht service fee per year; 
  8. Those full-time employees and faculty members (contracted) who do not wish to join the fund will not receive any PFS benefits from WUT.

Full-time employees/faculty members (contracted) or fund members who wish to join and update or change their contribution to the PFS are advised to submit a PFS requisition form to the HR Office. HR will deduct the PFS contribution from the employee's salary for the same month. For more information, please contact the HR Office - Webster University Thailand: Revised July 10, 2015.