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trinity24651
Joined: 05 Nov 2006
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 Posted: Thu Dec 07, 2006 3:13 pm Post subject: Another Contract Question |
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Is this good/bad?
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| 3.3 Severance Payment: Dependent upon completion of at least one full year (twelve sessions) of employment with employer, employee will be given, exclusive of monthly salary payments, an amount calculated as being the average of the last three session’s salaries. Korean severance tax will be withheld. This payment is made at the time of termination of employment |
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Bibbitybop
Joined: 22 Feb 2006
Location: Seoul
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| Posted: Thu Dec 07, 2006 4:01 pm Post subject: |
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| It sounds like they are going to give you severance pay equalling 3 months' worth of salary. If so, good, because usually people get severance pay equal to one month of salary. |
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trinity24651
Joined: 05 Nov 2006
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| Posted: Thu Dec 07, 2006 4:21 pm Post subject: |
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| Wow!! That IS good!! |
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PGF
Joined: 27 Nov 2006
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| Posted: Thu Dec 07, 2006 4:54 pm Post subject: |
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| no, it says an average of three months....= one month |
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trinity24651
Joined: 05 Nov 2006
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| Posted: Thu Dec 07, 2006 5:21 pm Post subject: |
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| I thought I would be paid the same thing every month... |
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babtangee
Joined: 18 Dec 2004
Location: OMG! Charlie has me surrounded!
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| Posted: Thu Dec 07, 2006 7:00 pm Post subject: |
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| trinity24651 wrote: |
| I thought I would be paid the same thing every month... |
Not if you work overtime (and actually get paid for it).
I do believe the last three month average is the labor regulation for severance pay. It may be a good sign your school knows this. Most contracts just read, "one month's salary." |
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trinity24651
Joined: 05 Nov 2006
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| Posted: Thu Dec 07, 2006 8:05 pm Post subject: |
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| I'm really hoping (as everyone does!) that I've gotten one of the really good schools! |
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Jeonnam Jinx
Joined: 06 Oct 2005
Location: Jeonnam
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| Posted: Thu Dec 07, 2006 8:08 pm Post subject: |
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| Yes, this is a common way of calculating severance pay: the average of the last three months. At some schools, they will not give teachers any overtime work in the last three months of their contract in order to prevent having to pay any extra severance payments. |
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