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nomad-ish
Joined: 08 Oct 2007
Location: On the bottom of the food chain
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 Posted: Thu Oct 22, 2009 7:47 pm Post subject: Salary Pro-rating |
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| How are contract salaries prorated if you haven't worked a full month in the public school system? And are the only two deductions during the first month lunch fees and a housing deposit? |
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cruisemonkey
Joined: 04 Jul 2005
Location: Hopefully, the same place as my luggage.
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| Posted: Thu Oct 22, 2009 8:13 pm Post subject: Re: Salary Pro-rating |
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| nomad-ish wrote: |
| How are contract salaries prorated if you haven't worked a full month in the public school system? And are the only two deductions during the first month lunch fees and a housing deposit? |
Hmm... it depends on your school's 'financial officer' and his/her rather wide/flexible interpretation of Korean law. Suffice it to say it is unlikely he/she will do the math in your favor unless instructed to by the principal or vice principal.
As to the second part... No! Deductions depend on where you live in K-land (taxes vary from city to city & province to province); where you're from (some countries have tax treaties with Korea, some don't); and how long you've been here (everyone should be paying Korean taxes after two years). Where are your deductions for the NPS & NHIC?
If those were your only deductions, it's time to talk to the 'accountant' and find out what's going on. |
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nomad-ish
Joined: 08 Oct 2007
Location: On the bottom of the food chain
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| Posted: Thu Oct 22, 2009 8:20 pm Post subject: |
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| i just arrived a couple weeks ago for another year, so i don't have my ARC yet (therefore no pension or health insurance deductions). i was just wondering about the pro-rating because it looks like the original amount is short about 70,000W. i think i'll just see what happens next month. thanks for your help! |
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OculisOrbis
Joined: 17 Jul 2006
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| Posted: Thu Oct 22, 2009 8:59 pm Post subject: |
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if you end up at labor board for some reason, the way they calculate it is as follows:
(monthly salary/30) * the # of days you worked = prorated salary
this sucks because we dont work saturdays or sundays so it artificially lowers our daily rate, but that's how they do it.
I would argue that they should do it like this:
(monthly salary / the # of actual working days in that specific month) * the # of days actually worked = prorated salary
plug in your numbers using both methods and check out the difference. |
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nomad-ish
Joined: 08 Oct 2007
Location: On the bottom of the food chain
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| Posted: Thu Oct 22, 2009 10:01 pm Post subject: |
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| i plugged in my numbers with the latter method and came up about 70,000W short, but after seeing the labour board way of prorating, i can't feel so bad! either way, i'll just let this go because this school is being really great to me. i'll see what happens next month. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Thu Oct 22, 2009 10:02 pm Post subject: Re: Salary Pro-rating |
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| nomad-ish wrote: |
| How are contract salaries prorated if you haven't worked a full month in the public school system? And are the only two deductions during the first month lunch fees and a housing deposit? |
H
. Your salary is divided by the number of days in a month (30) and multiplied by the number of days you did work. Then taxes and deductions( pension, medical insurance...) are taken out and you get the remainder. |
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cruisemonkey
Joined: 04 Jul 2005
Location: Hopefully, the same place as my luggage.
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| Posted: Thu Oct 22, 2009 10:22 pm Post subject: Re: Salary Pro-rating |
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| TheUrbanMyth wrote: |
| Then taxes and deductions( pension, medical insurance...) are taken out and you get the remainder. |
LOL... well put... I always feel like Oliver Twist - "Please sir, may I have some more?"
Nomadish,
I didn't realize you had left and come back. Once the school's 'accountant' has confirmation of your new alien registration with Immi (and you are �plugged into the system'), all deductions will be reconciled on your November pay. |
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cpolian
Joined: 18 Oct 2009
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| Posted: Fri Oct 23, 2009 1:43 am Post subject: |
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| What about in a hagwun system? |
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