Korean Job Discussion Forums

[poet13]

Hey all,
Last month I grossed 2,200,000. Not including after school program.
My pay slip has 8,000 resident tax. Is this correct? Anyone?

Obviously something funny going on, cause my pension deduction was only 71,410!

[SqueakyBuddha]

I've been paying it for about 2 years now. I think it's legit.

[kprrok]

I checked it out a couple of years ago and was told that if you're registered with immi for a year (ie. a resident), you pay the Resident Tax. It's 1% of your income tax. That makes it about 0.2% of your salary...not a big deal.

Seriously, if you're really worried about 8,000 won, you should probably get some help b/c you're a bit lost.

KPRROK

[poet13]

"Seriously, if you're really worried about 8,000 won, you should probably get some help b/c you're a bit lost. "

kprrok. Are you saying that I shouldn't call them on the little stuff? My pension deduction was off by 25000. That's peanuts too. Should I ignore that as well? What if they short me 20 or 30,000 every month on overtime? 20-30k? That's nothing as well.

Or are you just saying in general I shouldn't question deductions from my pay that I don't understand?

Anyway....


Also saw this on the NPS website.

(1) Childbirth Credit Period (Non contributory period)

A childbirth credit period, which is a period designed to grant additional coverage(see table below) to a parent when he/she gives birth to more than two children, will be introduced. The average of the total insured persons' Standard Monthly Income over the last 3 years(refers to "A", 1,618,914won as of 2007) will be used as the income for those periods.

- This period will apply to a child who is born after January 1 of 2008. The source of funds will be wholly supplied by the government, or shared with the national pension fund.
Number of Children
2 - 12 months
3 - 30 months
4 - 48 months
More than 5 - 50 months

Does this mean if you already have two children, the third earns an exemption? Or does the second child get the exemption?

[kprrok]

I admit that I wrote that in a rush and didn't write it very well.

What I meant to say is that even after you understand what it is and that you have to pay it, if you want to complain about it, that's kind of sad. Yes, if they shortchange you or shaft you every month by some amount, that's bad. But a legitimate deduction that is only 8,000 won shouldn't be worried about.

KPRROK

[poet13]

Fair enough. Thanks for that.
I'm fine with legit deductions, just never saw that one before.

[valkerie]

Residence tax should be 10% of your income tax.

My company have given me the address of the building where I can claim this (and income tax) back when I leave in August.