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Wangja
Joined: 17 May 2004
Location: Seoul, Yongsan
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 Posted: Sun Feb 05, 2006 9:53 pm Post subject: National Health Contributions - Korea |
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I understand that according to a law published on 13 July 2005, NHS contrubtions are to be paid by all foreign employees from 1 January 2006. The rate is 8.96% split equally between employer and employee.
It applies to all visa types, except E6 (enertainment).
Anybody notice any changes? |
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denverdeath
Joined: 21 May 2005
Location: Boo-sahn
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| Posted: Sun Feb 05, 2006 11:14 pm Post subject: |
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8.96%!?!?
http://www.nhic.or.kr/wbe/nation/nation033.html
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| For the employee insured, the contribution amount shall be calculated by ��monthly salary contribution rate��, currently 4.48% and be deducted from the monthly salary (50% of which is shared by the employer). Irrespective of the actual date of enrollment, the obligation of contribution payment is retroactive up to the date the enrollee was employed. |
Who gave you the info that you posted...your thieving boss? Or, is this yet a new gouging change that none of us are aware of yet? |
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Wangja
Joined: 17 May 2004
Location: Seoul, Yongsan
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| Posted: Sun Feb 05, 2006 11:21 pm Post subject: |
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No: I was reading leaflet from the German chamber of commerce and confess that my German is far from 100%.
That link is very useful, thanks. |
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denverdeath
Joined: 21 May 2005
Location: Boo-sahn
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| Posted: Mon Feb 06, 2006 2:06 am Post subject: |
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I guess they doubled the number by mistake? An honest mistake, ... I guess.  |
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Wangja
Joined: 17 May 2004
Location: Seoul, Yongsan
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| Posted: Mon Feb 06, 2006 2:27 am Post subject: |
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No, the doubling was my mistake: a German chim of mine said that he was going to lose 4.5% of his salary, I put 2 and 2 together and got nearly 9%!
Howver, there is an aspect that might apply to many. It seems that this is for ALL foreign employess, irrespective of the number of employess. |
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denverdeath
Joined: 21 May 2005
Location: Boo-sahn
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| Posted: Mon Feb 06, 2006 3:01 am Post subject: |
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Just let him know that it should be only 2.24% of his regular salary that should be deducted. Germans are also supposed to be dinged 4.5% on pension, but they, like Americans and Cdns, qualify for a lump-sum payment when they leave(9% total including the workplace's contribution)...only one employee is sufficient.
http://www.nps4u.or.kr/social/index_en.html |
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