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gwhitey09
Joined: 26 Jun 2007
Location: seoul
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 Posted: Tue Dec 14, 2010 7:23 pm Post subject: severance pay |
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My salary is 2.2 I provide my own housing so I can 2.2 plus 500 000
a month. So 2.700.000 End of year severance is 2.2 or 2.7?
What have your experiences been?
I thought it was supposed to be the amount you have been getitng paid
each month from the previous year. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Dec 14, 2010 9:14 pm Post subject: |
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| gwhitey09 wrote: |
My salary is 2.2 I provide my own housing so I can 2.2 plus 500 000
a month. So 2.700.000 End of year severance is 2.2 or 2.7?
What have your experiences been?
I thought it was supposed to be the amount you have been getitng paid
each month from the previous year. |
It is supposed to be the AVERAGE of your SALARY/WAGES for the last 3 months of your employment.
It does NOT include extra allowances (like housing or airfare) nor does it exclude deductions like taxes, medical, pension, etc. You should get 2.2 million (assuming you aren't getting regular overtime).
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OculisOrbis
Joined: 17 Jul 2006
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superNET
Joined: 08 Dec 2010
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| Posted: Tue Dec 14, 2010 9:47 pm Post subject: |
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| Quote: |
| So, your employer should be giving you approx. 2.7. |
No, for only 2.2 is wages, the rest is housing allowance. The two are not the same.
| Quote: |
It is supposed to be the AVERAGE of your SALARY/WAGES for the last 3 months of your employment.
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The only place I have ever heard this is on this forum, all my contracts have stated that the severance is equal to 1 month's pay. |
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OculisOrbis
Joined: 17 Jul 2006
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| Posted: Tue Dec 14, 2010 10:02 pm Post subject: |
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| superNET wrote: |
| Quote: |
| So, your employer should be giving you approx. 2.7. |
No, for only 2.2 is wages, the rest is housing allowance. The two are not the same. |
Did you neglect to read the definition of wages I provided? Here it is again:
The term �wages� in this Act means wages, salaries and
any other money and valuable goods an employer pays to
a worker for his/her work, regardless of how such payments
are termed.
On calculating the severance/retirement benefit from the Ministry of Employment and Labor:
"2. According to the Employee Retirement Benefit Security Act, when a worker who has worked one year or more retires from the workplace with five or more workers employed ordinarily, the employer who adopts a retirement pay scheme shall provide the retiring employee with 30 days or more average wage for every year of consecutive service. Here, average wage means the amount calculated by dividing the total amount of wages paid to the relevant worker during three calendar months prior to the date on which the event necessitating such calculation occurred by the total number of calendar days during those three calendar months."
The reference to 'five or more workers no longer' applies. This was from 2008.
http://www.moel.go.kr/english/dont_miss/faq_view.jsp?&idx=101
The Ministry of Labour has jurisdiction over severance pay matters. Severance Pay Division can be reached at (02) 503-9727.
Last edited by OculisOrbis on Tue Dec 14, 2010 10:23 pm; edited 1 time in total |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Tue Dec 14, 2010 10:13 pm Post subject: |
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| superNET wrote: |
| Quote: |
| So, your employer should be giving you approx. 2.7. |
No, for only 2.2 is wages, the rest is housing allowance. The two are not the same.
| Quote: |
It is supposed to be the AVERAGE of your SALARY/WAGES for the last 3 months of your employment.
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The only place I have ever heard this is on this forum, all my contracts have stated that the severance is equal to 1 month's pay. |
Read the links provided. The Korean Labor Standards Act and the Employee Retirement Benefit Security Act clearly state this.
Yes one month's pay is usually what it works out to be. But both the KLSA and the ERBSA state that 30 days "average wages" are the severance pay and that said average wages are calculated using the last 3 months.
In other words if you did a lot of OT in the last three months...that is supposed to be factored in as well. |
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gwhitey09
Joined: 26 Jun 2007
Location: seoul
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| Posted: Tue Dec 14, 2010 10:36 pm Post subject: |
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| Thanks for the responses |
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superNET
Joined: 08 Dec 2010
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| Posted: Tue Dec 14, 2010 11:09 pm Post subject: |
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| Quote: |
The term �wages� in this Act means wages, salaries and
any other money and valuable goods an employer pays to
a worker for his/her work, regardless of how such payments
are termed.
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You may be right about the averaging of the severance but you are reaing that clause wrong. Housing allowance is not pay, i snot wages an dis not money in return for work and should not be included in any severance calculation.
You are reading into those words what you want and not seeing what they really say.
Besides, I could careless about 'averaging' the last 3 months. That is just being nitpicking and greedy if a foreigner demands more money at the end.
I had a Korean Teacher friend of mine complain to me once about how Foreigners always point to the contract (and other laws) when it is in their favor but ignore both when it is in the school's favor. You guys just prove him correct. |
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OculisOrbis
Joined: 17 Jul 2006
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| Posted: Tue Dec 14, 2010 11:29 pm Post subject: |
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| superNET wrote: |
| Quote: |
The term �wages� in this Act means wages, salaries and
any other money and valuable goods an employer pays to
a worker for his/her work, regardless of how such payments
are termed.
|
You may be right about the averaging of the severance but you are reaing that clause wrong. Housing allowance is not pay, i snot wages an dis not money in return for work and should not be included in any severance calculation.
You are reading into those words what you want and not seeing what they really say.
Besides, I could careless about 'averaging' the last 3 months. That is just being nitpicking and greedy if a foreigner demands more money at the end.
I had a Korean Teacher friend of mine complain to me once about how Foreigners always point to the contract (and other laws) when it is in their favor but ignore both when it is in the school's favor. You guys just prove him correct. |
We wouldn't have to point to the contract or the law if the employers followed or honored them....BTW I see youre a newly registered member, but what was your username before you got banned the last time? |
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morrisonhotel
Joined: 18 Jul 2009
Location: Gyeonggi-do
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| Posted: Tue Dec 14, 2010 11:45 pm Post subject: |
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| OculisOrbis wrote: |
| BTW I see youre a newly registered member, but what was your username before you got banned the last time? |
I was going to guess Seoulio. It probably isn't Seoulio as the posts aren't as riddled with grammatical and spelling errors. |
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superNET
Joined: 08 Dec 2010
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| Posted: Wed Dec 15, 2010 12:06 am Post subject: |
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| Quote: |
| We wouldn't have to point to the contract or the law if the employers followed or honored them |
I am sorry but I must have missed the sign that said we were back in Kansas.
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| I see youre a newly registered member, but what was your username before you got banned the last time? |
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| I was going to guess Seoulio |
I love it how you attack others simply for disagreeing with you and holding to higher values. I miss Seoulio, he/she had great points. Oh and by the way, newly registered does not mean formerly banned, new to Korea, unintelligent or any other nasty word you can come up with.
Considering the riff raff the Korean employers have to put up with, it is a wonder they still bring Westerners to this land. |
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JeffersonDarcy2010
Joined: 05 Aug 2010
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| Posted: Wed Dec 15, 2010 2:41 am Post subject: |
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| superNET wrote: |
Considering the riff raff the Korean employers have to put up with, it is a wonder they still bring Westerners to this land. |
Maybe because western faces sell better, and hagwons need to make money? |
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NYC_Gal 2.0
Joined: 10 Dec 2010
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| Posted: Wed Dec 15, 2010 2:46 am Post subject: |
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| morrisonhotel wrote: |
| OculisOrbis wrote: |
| BTW I see youre a newly registered member, but what was your username before you got banned the last time? |
I was going to guess Seoulio. It probably isn't Seoulio as the posts aren't as riddled with grammatical and spelling errors. |
Unless he's being really clever about it  |
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morrisonhotel
Joined: 18 Jul 2009
Location: Gyeonggi-do
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| Posted: Wed Dec 15, 2010 3:53 am Post subject: |
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| NYC_Gal 2.0 wrote: |
| morrisonhotel wrote: |
| OculisOrbis wrote: |
| BTW I see youre a newly registered member, but what was your username before you got banned the last time? |
I was going to guess Seoulio. It probably isn't Seoulio as the posts aren't as riddled with grammatical and spelling errors. |
Unless he's being really clever about it |
This person, whoever it is, does have the same knack of arguing for argument's sake. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Wed Dec 15, 2010 3:07 pm Post subject: |
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| superNET wrote: |
| Quote: |
The term �wages� in this Act means wages, salaries and
any other money and valuable goods an employer pays to
a worker for his/her work, regardless of how such payments
are termed.
|
You may be right about the averaging of the severance but you are reaing that clause wrong. Housing allowance is not pay, i snot wages an dis not money in return for work and should not be included in any severance calculation.
You are reading into those words what you want and not seeing what they really say.
Besides, I could careless about 'averaging' the last 3 months. That is just being nitpicking and greedy if a foreigner demands more money at the end.
I had a Korean Teacher friend of mine complain to me once about how Foreigners always point to the contract (and other laws) when it is in their favor but ignore both when it is in the school's favor. You guys just prove him correct. |
So asking for what you are LEGALLY ENTITLED to is being nitpicking and greedy? Guess what you are legally entitled to a salary as well. Is accepting it being greedy too?
Also could you point to the post on this thread where I posted about or advocated ignoring laws that work in the school's favor?
Or was that just an gratuitous attack? |
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