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wdgno1
Joined: 12 Feb 2010
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 Posted: Thu Aug 19, 2010 6:53 am Post subject: Confused by First Paycheck |
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This is my first job since graduating with my MA from University. It is a fairly reputable chain hagwon. These are the totals they gave me:
2,600,000 - base pay
147,650 - national health insurance for two months (July and August)
70,000 - apartment "management" fee for two months
88,770 - income tax
Some things don't seem right to me about these rates. Why am I being charged for two months health insurance even though I didn't arrive until the 18th of July and didn't receive my insurance card until maybe a week ago? Why is my rate much higher than 2.5% for insurance? Why is there no deduction for pension? Why is my income tax much higher than the one I calculated online? Can anyone make sense of these rates? I thought pension was tied to the national health insurance, but it seems that I have the latter and not the former.
The reason I come here for these answers is because I really like my job overall. The director is very kind and generous, taking me out to dinners and trying to cater to my every want and need. Many of the students are very smart and fun to work with. I work ridiculous hours, far in excess of the 50 I am required to, but I'm learning a lot and actually enjoy being at work much better than having time off. I don't want to spoil the great relationship I have with management by asking impolite questions that are the result of my ignorance. Still, I cannot abide losing 4.5% of my pay due to my pension not being paid. What should I do and how far off, if at all, do these numbers look to the Korea vets on Dave's? |
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ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
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| Posted: Thu Aug 19, 2010 7:24 am Post subject: Re: Confused by First Paycheck |
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| wdgno1 wrote: |
This is my first job since graduating with my MA from University. It is a fairly reputable chain hagwon. These are the totals they gave me:
2,600,000 - base pay
147,650 - national health insurance for two months (July and August)
70,000 - apartment "management" fee for two months
88,770 - income tax
Some things don't seem right to me about these rates. Why am I being charged for two months health insurance even though I didn't arrive until the 18th of July and didn't receive my insurance card until maybe a week ago? Why is my rate much higher than 2.5% for insurance? Why is there no deduction for pension? Why is my income tax much higher than the one I calculated online? Can anyone make sense of these rates? I thought pension was tied to the national health insurance, but it seems that I have the latter and not the former.
The reason I come here for these answers is because I really like my job overall. The director is very kind and generous, taking me out to dinners and trying to cater to my every want and need. Many of the students are very smart and fun to work with. I work ridiculous hours, far in excess of the 50 I am required to, but I'm learning a lot and actually enjoy being at work much better than having time off. I don't want to spoil the great relationship I have with management by asking impolite questions that are the result of my ignorance. Still, I cannot abide losing 4.5% of my pay due to my pension not being paid. What should I do and how far off, if at all, do these numbers look to the Korea vets on Dave's? |
National Health Insurance is paid for whole months. Since you were here in July, you have to pay for July and August. You have to pay from your first day in Korea, but for the whole calendar month. This looks about right. The rate looks a bit high, but maybe your income is higher than you think.
Apartment management fee is really a condo management fee. It's a standard utility deduction. The amount varies a lot depending on where you live and what's included.
Income Tax looks a bit high just like the Health Insurance. Do you get a housing allowance or some other kind of taxable non-cash income? It looks like you have some other taxable income raising your rates. You should find out why your rate is too high.
Pension and health insurance are run by different departments. Your employer has to sign you up for each separately. Once enrolled, the pension office sends out a bill which your employer must pay and you pay half. Pension, however, does not ususally bill for the first partial month and the bills are often late. So, your bill may show up next month.
And you are correct that Pension and Health Insurance are "linked" these days, but that means that they compare lists to make sure that everyone that is registered for one is registered for the other. Generally, but not always, you must be enrolled in both. Since you are signed up for Health Ins. your boss cannot hide you from the pension office. He probably knows this, so you shouldn't worry yet. It's probably just the normal timing difference in the two. |
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alwaysbeclosing100
Joined: 07 Feb 2009
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| Posted: Thu Aug 19, 2010 8:02 am Post subject: Re: Confused by First Paycheck |
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depends on how you want to handle it but i have 0 tolerance for monkey math.
not paying pension the 1st month is a normal newbie trick as they will give some type of excuse and expect you to let them save face. they just robbed you out of over 100,000(their pension contribution for the month).
| wdgno1 wrote: |
This is my first job since graduating with my MA from University. It is a fairly reputable chain hagwon. These are the totals they gave me:
2,600,000 - base pay
147,650 - national health insurance for two months (July and August)
the percent is 2.54% so for two months the number is high by about 15,000(payroll lady probably needed to buy herself lunch)
70,000 - apartment "management" fee for two months
no one can evaluate the validity of this number unless we know what utilities it includes, what city you live in(ie Seoul vs rural for example), and the type and quality of the housing(i would doublecheck to see the management fee is actually what the school is deducting....it might be less)
88,770 - income tax
this number is pretty close to 3.3% so she probably only needed a cup of starbucks with the 2000 she shorted you.....see a pattern here.....make sure you get a government health insurance card......check your pension balance monthly..........you can also stop into a health clinic with your arc card to make sure your health insurance is paid up to date.......
Some things don't seem right to me about these rates. Why am I being charged for two months health insurance even though I didn't arrive until the 18th of July and didn't receive my insurance card until maybe a week ago? Why is my rate much higher than 2.5% for insurance? Why is there no deduction for pension? Why is my income tax much higher than the one I calculated online? Can anyone make sense of these rates? I thought pension was tied to the national health insurance, but it seems that I have the latter and not the former.
The reason I come here for these answers is because I really like my job overall. The director is very kind and generous, taking me out to dinners and trying to cater to my every want and need. Many of the students are very smart and fun to work with. I work ridiculous hours, far in excess of the 50 I am required to, but I'm learning a lot and actually enjoy being at work much better than having time off. I don't want to spoil the great relationship I have with management by asking impolite questions that are the result of my ignorance. Still, I cannot abide losing 4.5% of my pay due to my pension not being paid. What should I do and how far off, if at all, do these numbers look to the Korea vets on Dave's? |
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wdgno1
Joined: 12 Feb 2010
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| Posted: Fri Aug 20, 2010 7:28 am Post subject: Update |
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| I spoke with the director. She tried to dissuade me by saying that most foreign teachers choose not to get the pension and that I would need to change my insurance and pay a residence fee. When I said that was fine, she mentioned that pension was not in my contract, which I knew and isn't relevant. She then needed an explanation for why I would want to pay 4.5% of my salary to a pension fund, as if a guaranteed 100% maturation in a year isn't a good investment. She finally said she would talk to her accountant and sign me up for the pension plan. Any feedback or advice would be appreciated. |
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sojusucks
Joined: 31 May 2008
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| Posted: Fri Aug 20, 2010 9:46 am Post subject: Re: Confused by First Paycheck |
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| wdgno1 wrote: |
This is my first job since graduating with my MA from University. It is a fairly reputable chain hagwon. These are the totals they gave me:
2,600,000 - base pay
147,650 - national health insurance for two months (July and August)
70,000 - apartment "management" fee for two months
88,770 - income tax
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Good luck at a hogwan. I know plenty of hogwan instructors. Some don't mind and even work there for years. No one wants to work there forever though. These places expect long hours, or perhaps that you work illegally, or something else. I wouldn't risk that.
Also if you arrive in one month, I believe the school must pay the whole amount of the health insurance. And yes, you are supposed to pay some money towards the equivalent of "social security" but it is most assuredly not "income tax." Also, there are many places that don't charge and apartment management fee so why go to a place that has this. Sounds too shady for me. |
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RMNC
Joined: 21 Jul 2010
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| Posted: Fri Aug 20, 2010 11:12 am Post subject: |
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| You have to be enrolled in the pension unless you're from South Africa. Is that reason enough for her? |
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