Korean Job Discussion Forums

[greedy_bones]

Are the tax rates for severance pay any different than the rates for income? I'm expecting my severance pretty soon, and my boss is telling me he has to figure out the tax rates, but I'm pretty sure they should be the same or lower. Do you pay into pension and health insurance twice in one month?

[greedy_bones]

bump

[I-am-me]

make sure you go to the tax office and find out if he paid your taxes or pocketed them. Its an old trick they pull. You might be in for a surprise.

[greedy_bones]

I'm not too worried about my boss being incredibly shady. I know he doesn't pay full taxes/pension. He's just kind of incompetent and occasionally tries some shit. I think he's paying taxes because he has accidentally given me the pay slip which he sends to the tax office which reports my salary as 400,000 lower than what it actually is.

I know I'm getting my pension because I've received letters from the pension office detailing the pension received.

I just wish the korean tax website mentioned what the tax is on severance.

[Zaria32]

Tell him your severance should be paid to you separately (not in a lump sum with whatever else is owed) and taxes just like your regular paychecks. If you are leaving Korea, no medical though...