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trubadour
Joined: 03 Nov 2006
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 Posted: Fri Nov 23, 2007 2:34 am Post subject: 300,000 TAX on 2.3million? |
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Thats baisically it -
not sure if I can trust the bosses calculations but I think I'm going to get the hell out of this situation asap!
Info appreciated! |
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isthisreally
Joined: 01 Sep 2007
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| Posted: Fri Nov 23, 2007 2:53 am Post subject: |
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Here's my last paycheck. Decimals rounded.
2,267,000
Income tax 50,000
Residence tax 5,000
Medical tax 48,000
National tax 87,000
Total 192,000
Net pay 2,075,000 |
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aarontendo
Joined: 08 Feb 2006
Location: Daegu-ish
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| Posted: Fri Nov 23, 2007 2:53 am Post subject: |
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Yeah from what I understand your tax should be around 100,000'ish or so.
Is that national tax your pension contribution? Is the medical tax your half of your medical insurance? I always get confused when Koreans tell me how much they pay in tax...I never even considered those two things tax heh. |
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halfmanhalfbiscuit
Joined: 13 Oct 2007
Location: Seoul
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| Posted: Fri Nov 23, 2007 2:59 am Post subject: |
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National Tax has to mean pension.
You'd have to earning high 2M for deductions to be 300K.Some deductions are done in 3 month lots though. |
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isthisreally
Joined: 01 Sep 2007
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| Posted: Fri Nov 23, 2007 3:06 am Post subject: |
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| I should also mention my first 3 months had a 200,000 deposit for housing. |
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kentucker4
Joined: 03 Sep 2007
Location: Georgia
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| Posted: Fri Nov 23, 2007 3:37 am Post subject: |
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| I get paid 2.2 and my contract staes after pension it will only be 1.9. It better not be any less than that, though. |
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icicle
Joined: 09 Feb 2007
Location: Gyeonggi do Korea
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| Posted: Fri Nov 23, 2007 7:29 am Post subject: |
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| kentucker4 wrote: |
| I get paid 2.2 and my contract staes after pension it will only be 1.9. It better not be any less than that, though. |
My net pay ends up being at a similar level ... But that is after all of my deductions ... So after tax AND medical AND pension AND school lunches
So I would say that the 300,000 quoted by the original poster as tax is excessive unless it does also include medical and pension
Icicle |
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garykasparov
Joined: 27 May 2007
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| Posted: Fri Nov 23, 2007 7:44 am Post subject: |
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| Quote: |
| 300,000 TAX on 2.3million |
Pension (Approximately 4.5%)
103,500 Korean Won
Income Tax
54,370
Residence Tax (10% x Income Tax)
5,437 Korean Won
Health Insurance (Currently 2.385%)
54,855 Korean Won
218,162 Korean Won
Your boss pockets approximately 81,838 Korean Won
Net Pay: 2,081,838 Korean Won
81,838 Korean Won x 12 months = 982,056 Korean Won
Why is your employer not paying you your full salary? Assume that you work there for a full year, your employer will still owe you approximately 396,000 Korean Won. |
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