| View previous topic :: View next topic |
| Author |
Message |
RufusW
Joined: 14 Jun 2008
Location: Busan
|
 Posted: Mon Feb 15, 2010 7:58 pm Post subject: EPIK Renewal: Bonus and Severance? |
 |
|
Sorry, tried searching and Google's blocked from work?!
I'm renewing my 2009 contract for March 2010. Should I expect the 13th month severance pay and the 2 million won bonus?
I know it's severance, but the contract doesn't mention that this is canceled by accepting the 'contract renewal allowance'.
Maybe just wishful thinking... |
|
| Back to top |
|
 |
ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
|
| Posted: Mon Feb 15, 2010 10:22 pm Post subject: Re: EPIK Renewal: Bonus and Severance? |
|
|
| RufusW wrote: |
Sorry, tried searching and Google's blocked from work?!
I'm renewing my 2009 contract for March 2010. Should I expect the 13th month severance pay and the 2 million won bonus?
I know it's severance, but the contract doesn't mention that this is canceled by accepting the 'contract renewal allowance'.
Maybe just wishful thinking... |
you should get one month's salary as your "severance" + your airfare home and back (or the equivalent thereof).
Depending on where you work, they are NOT obligated to pay out the severance until you actually quit/leave but many P.schools pay it out annually rather than let it accumulate.
If you are in a hakwon, it is what you negotiate... they may pay it out or they may wait till you leave.
. |
|
| Back to top |
|
|
RufusW
Joined: 14 Jun 2008
Location: Busan
|
| Posted: Mon Feb 15, 2010 10:41 pm Post subject: |
|
|
Yea, so severance must always be paid, and they'll either give you 2 million or a return flight home.
March should be a big paycheck!
Thanks again ttompatz |
|
| Back to top |
|
|
tonyvu
Joined: 30 May 2008
Location: busan - a view of dadaepo beach from my office window
|
| Posted: Mon Feb 15, 2010 11:41 pm Post subject: |
|
|
| if paid out annually, is the severance payment based on the previous or new contract salary? |
|
| Back to top |
|
|
RufusW
Joined: 14 Jun 2008
Location: Busan
|
| Posted: Tue Feb 16, 2010 6:44 am Post subject: |
|
|
| Previous; I believe this is something the labor board enforce. And if you don't renew you still get severance, so it must be the completed 12 month salary. |
|
| Back to top |
|
|
tonyvu
Joined: 30 May 2008
Location: busan - a view of dadaepo beach from my office window
|
| Posted: Tue Feb 16, 2010 11:47 pm Post subject: |
|
|
| are the renewal bonus and severance payment also subject to income tax, medical and pension deductions, etc? |
|
| Back to top |
|
|
sylvevl
Joined: 21 Apr 2010
Location: Ulsan, South Korea
|
| Posted: Wed Nov 03, 2010 8:22 pm Post subject: Outcome? |
|
|
| I am wondering if you actually got paid the severance AND the 2M. My school's not paying and they say it's meant to be one or the other. What was your experience with it? |
|
| Back to top |
|
|
TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
|
| Posted: Wed Nov 03, 2010 8:48 pm Post subject: Re: Outcome? |
|
|
| sylvevl wrote: |
| I am wondering if you actually got paid the severance AND the 2M. My school's not paying and they say it's meant to be one or the other. What was your experience with it? |
For severance some schools wait until you leave, others pay it out at the end of the years. I've had schools that have done both. As far as your situation goes, you should get both. The severance is for finishing one year and the two million is for re-signing. Go back to your school and point out that these are different amounts and for different things. Call the district supervisor if they don't budge. CAVEAT. Before calling the D.S. make absolutely sure that this is not just some misunderstanding between you and the school. |
|
| Back to top |
|
|
warmachinenkorea
Joined: 12 Oct 2008
|
| Posted: Thu Nov 04, 2010 3:45 pm Post subject: |
|
|
Yea you should get both. My wife and I are EPIK and some of the other EPIK teachers in our area were getting shafted as their schools thought they got one or the other.
If you re-sign about a month after you start your new contract you should get a nice fat pay check. |
|
| Back to top |
|
|
tombanjo
Joined: 23 Mar 2007
|
| Posted: Thu Nov 04, 2010 8:12 pm Post subject: |
|
|
Having a look at the EPIK website would seem to indicate that if you extend/renew your contract for another year, you are entitled to the 2 million won, but NOT severance, 1.3 million won, or anything else.
Perhaps your contract says something else, though for most folks I know, this would seem to be the case. |
|
| Back to top |
|
|
jonpurdy
Joined: 08 Jan 2009
Location: Ulsan
|
| Posted: Thu Nov 04, 2010 8:59 pm Post subject: |
|
|
| Severance is mandatory. Your school can either pay you after each contract or at the end of all of your contracts. This is 100% correct. |
|
| Back to top |
|
|
tombanjo
Joined: 23 Mar 2007
|
| Posted: Thu Nov 04, 2010 9:26 pm Post subject: |
|
|
Yup. you're 100% correct - I've been battling this out with my coteacher and was given the impression that I would only be getting the 2 mil, but on further investigation have proven to her this is not the case.
You don't get the flight money though if renewing, at least as far as my contract goes. |
|
| Back to top |
|
|
southernman
Joined: 15 Jan 2010
Location: On the mainland again
|
| Posted: Thu Nov 04, 2010 9:31 pm Post subject: |
|
|
Yes the 25th of the next month will be a very healthy paycheck.
Your co-teacher should go over everything with you, pretty much as you re-sign.
So you will get
the month owing
the severance pay
re-signing bonus = equivalent of one months pay
Make sure you do get everything, some schools are confused because it is a lot of money. |
|
| Back to top |
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
