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What is the law on severance pay?

 
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Mandinga



Joined: 12 Oct 2008
Location: Seoul
PostPosted: Thu Oct 16, 2008 2:37 pm    Post subject: What is the law on severance pay? Reply with quote
On the contract sticky I see severance as one months pay and sometimes as the average of the last three months pay including OT. What are you supposed to get?

Sorry if this is in another post.
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Young FRANKenstein



Joined: 02 Oct 2006
Location: Castle Frankenstein (that's FRONKensteen)
PostPosted: Thu Oct 16, 2008 3:00 pm    Post subject: Re: What is the law on severance pay? Reply with quote
Mandinga wrote:
On the contract sticky I see severance as one months pay and sometimes as the average of the last three months pay including OT. What are you supposed to get?

It is the average gross income of the last three months. Contracts containing one month's pay are not correct. If you loaded up on OT and after school classes in your final three months, your school will be surprised to find out they will have to fork over more than the one month they stated in the contract.
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Sincinnatislink



Joined: 30 Jan 2007
Location: Top secret.
PostPosted: Sat Oct 18, 2008 4:28 am    Post subject: Reply with quote
cite?
English and Korean would be best.
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Young FRANKenstein



Joined: 02 Oct 2006
Location: Castle Frankenstein (that's FRONKensteen)
PostPosted: Sat Oct 18, 2008 4:31 am    Post subject: Reply with quote
Sincinnatislink wrote:
cite?
English and Korean would be best.

It's in the Labor Standards Act. Check the Sticky.
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea
PostPosted: Sat Oct 18, 2008 4:54 am    Post subject: Reply with quote
Young FRANKenstein wrote:
Sincinnatislink wrote:
cite?
English and Korean would be best.

It's in the Labor Standards Act. Check the Sticky.


It USED to be in the labor standards act (article 34).

It is NOW in the Employee Retirement Benefit Security Act.
http://english.molab.go.kr/data/EmployeeRetirementBenefitSecurityAct.pdf
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