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Korean Job Discussion Forums
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Ck10n3
Joined: 20 May 2009
Location: Bundang
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 Posted: Sun May 09, 2010 9:57 pm Post subject: Paycheck |
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I'm trying to figure out what should be deducted from my paycheck. I've been searching on the forums, but I'm getting information from almost 7 years ago in some places and I know things change.
I make: 2,300,000
Deductions:
99,000 pension
58,630 health insurance
29,090 income tax
2,900 residence tax
3,840 long-term care insurance (this is what it translates to)
That's 193,460 in deductions. Does this sound about right? Any help would be greatly appreciated. |
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Ramen
Joined: 15 Apr 2008
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| Posted: Sun May 09, 2010 10:22 pm Post subject: Re: Paycheck |
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| Ck10n3 wrote: |
I'm trying to figure out what should be deducted from my paycheck. I've been searching on the forums, but I'm getting information from almost 7 years ago in some places and I know things change.
I make: 2,300,000
Deductions:
99,000 pension
58,630 health insurance
29,090 income tax
2,900 residence tax
3,840 long-term care insurance (this is what it translates to)
That's 193,460 in deductions. Does this sound about right? Any help would be greatly appreciated. |
Sounds about right. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sun May 09, 2010 10:26 pm Post subject: Re: Paycheck |
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| Ck10n3 wrote: |
I'm trying to figure out what should be deducted from my paycheck. I've been searching on the forums, but I'm getting information from almost 7 years ago in some places and I know things change.
I make: 2,300,000
Deductions:
99,000 pension
58,630 health insurance
29,090 income tax
2,900 residence tax
3,840 ong-term care insurance (this is what it translates to)l
That's 193,460 in deductions. Does this sound about right? Any help would be greatly appreciated. |
As a foreigner on an E2 you should be exempt from the "long-term care insurance since you can never collect it. It is only 4k per month however.
The rest looks to be correct and if you are from the States, Canada or Australia then you get 200k (per month worked) returned to you when you leave Korea as your pension refund. |
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the ireland
Joined: 11 May 2008
Location: korea
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| Posted: Mon May 10, 2010 5:46 am Post subject: Re: Paycheck |
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| Ck10n3 wrote: |
I'm trying to figure out what should be deducted from my paycheck. I've been searching on the forums, but I'm getting information from almost 7 years ago in some places and I know things change.
I make: 2,300,000
Deductions:
99,000 pension
58,630 health insurance
29,090 income tax
2,900 residence tax
3,840 long-term care insurance (this is what it translates to)
That's 193,460 in deductions. Does this sound about right? Any help would be greatly appreciated. |
your deductions seem to be based on someone earning 2.2million rather than 2.3
but apart from that, yeah, those are typical deductions |
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Ck10n3
Joined: 20 May 2009
Location: Bundang
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| Posted: Tue May 11, 2010 9:13 pm Post subject: |
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Yeah, well they say my salary is 2.3 million, but on the pay stub it says my salary is 2.2 million and I get a 100,000 food allowance.
Does this mean I am getting less pension than I should? Do you think that the cash I am not getting in pension is worth it? |
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sulperman
Joined: 14 Oct 2008
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| Posted: Tue May 11, 2010 10:40 pm Post subject: |
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Well, if you were paying pension on 2.3 mil then it would be 103,500 a month, you are losing out on 4.50 a month. Thats 54 dollars a year or just under 15 cents a day (US money). But you are probably saving a bit on the taxes too, though I am not smart enough to figure that out. This is all assuming you are not British, and would be able to get the pension money back.
IMHO not worth making a fuss over, but to each his (or her) own. |
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