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cj1976
Joined: 26 Oct 2005
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 Posted: Thu Dec 16, 2010 9:19 pm Post subject: How much deductions should I be paying? |
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I work for SMOE. My basic wage is 2.5 plus the 500k housing allowance. Each month the school takes around 280k from my wages for healthcare, pensions and tax etc. Is this about right? If my memory serves me correctly, my previous SMOE school only took around 180k per month. How can I check what the correct amount should be?
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winterfall
Joined: 21 May 2009
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| Posted: Thu Dec 16, 2010 10:19 pm Post subject: |
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Pension = 4.5% (Just Salary)
Health care = 3.94%(Just Salary)
Tax = 5% - 10% . It's taken from the Salary & Housing allowance together. Not sure how they calculate it though. If they charge say 5% to Salary & 5% to Housing or if they just charge 5% to the net total. How they do it makes a big difference by the end of the year |
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OculisOrbis
Joined: 17 Jul 2006
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| Posted: Thu Dec 16, 2010 10:38 pm Post subject: |
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Pension is correct. It is 9% and your share is 4.5% - the employer pays the other 4.5%
Health is currently at 5.33% -- your share is 2.67% -- the employer pays the other half.
Tax withholding is calculated on a sliding scale depending on your earnings. 5-10% is not even close (much too high) for that salary.
You can calculate your withholding here:
http://www.nts.go.kr/eng/help/help_56.asp?top_code=H001&sub_code=HS05&ssub_code=HSE4 |
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