I've done a bit of research in the provident fund law today (http://www.sec.or.th/EN/SECInfo/LawsRegulation/Documents/actandroyal/2Provident.pdf) and it looks like we are due to have a committee elected by staff to act on their behalf. It's this committee that seeks the approval of the staff to switch funds (see link).
Would you two be able to look a bit more closely into this today to make sure that we are doing things properly? I wouldn't want to get into a situation where we switch funds, that fund loses money and it turns out that we did something wrong with the switch. Bangkok Bank may be able to help clarify this. If they can, please ask them to clarify by email so we have something in writing.
I think what this means is that we get staff who are participating in the provident fund to elect a representative and then that representative works with staff to make sure that the right fund is picked. But I'm not a lawyer (please note Clara is CCed!).
Also- has SCB presented to staff?
I know I'm being a bit picky but better to be safe now and avoid problems in the future.
Thanks
Piet