Is it mandatory to provide insurance for employees when being a boss in Thailand? (SSO, work injury insurance)

Taking advantage of the consecutive holidays in Thailand, I'll post a few more articles :) I am CJ, an office worker and entrepreneur working in a company in Bangkok. 1. Thailand's Social Security Office (SSO) requires employers to insure their employees. The calculation is simple: based on the employee's monthly salary, the employer pays 5%, the employee pays 5%, with a salary cap of 15,000 THB, so the employer pays a maximum of 750 THB per employee per month. Payments must be declared and paid before the 15th of each month; late payments incur a 2% monthly penalty on the outstanding amount. 2. The Workmen’s Compensation Fund is fully borne by the employer, with rates depending on industry risk from about 0.2% to 1%, usually declared and paid annually. The SSO covers a wide range of benefits including sickness, injury, disability, maternity, unemployment, retirement, and death. Employees treated at designated hospitals as per regulations can enjoy corresponding medical benefits. In practice, most accounting firms can handle SSO registration and monthly declarations on your behalf, so you don't necessarily have to go through the process yourself; but you still need to confirm that they handle it on time to avoid penalties later. I even have social security for my cleaning lady!