| View previous topic :: View next topic |
| Author |
Message |
Raeddie
Joined: 13 Dec 2006
|
 Posted: Wed Feb 11, 2009 5:05 am Post subject: food allowance |
 |
|
| I have been working at my hagwon for about six months. The most recent paycheck reduced my base pay by 100,000 won and gave me a food allowance of 100,000 won. The Korean head teacher told me not to worry it was for my benefit. I would pay less taxes. My first reaction was B.S.! Any ideas on what I can do about this? |
|
| Back to top |
|
 |
ChinaBoy
Joined: 17 Feb 2007
|
| Posted: Wed Feb 11, 2009 6:07 am Post subject: |
|
|
| No. Hagwons will screw you at every opportunity. Of course it's BS. Unless your hagwon is owned by E-Mart, I don't see what you're going to do with 100,000 won worth of kimchi. |
|
| Back to top |
|
|
ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
|
| Posted: Wed Feb 11, 2009 6:40 am Post subject: Re: food allowance |
|
|
| Raeddie wrote: |
| I have been working at my hagwon for about six months. The most recent paycheck reduced my base pay by 100,000 won and gave me a food allowance of 100,000 won. The Korean head teacher told me not to worry it was for my benefit. I would pay less taxes. My first reaction was B.S.! Any ideas on what I can do about this? |
So, are you still getting the same total pay? Do you mean that they have reduced the base pay and included a line item for "food allowance" so that it comes out the same?
Do you have your health insurance, pension and Alien Registration Card?
This sounds like an attempt to reduce several items of expense for the school. Two of these could benefit you, but the rest will cost you.
Your income tax should be reduced. Hopefully you're paying according to the NTS web site.
Your health insurance 50% co-pay should be reduced.
However, your pension contribution will be reduced as well, which means that your employer's share and the amount you will get back will be reduced.
And, your year end severance would be reduced by 100,000.
This will amount to just a small savings for your school. It doesn't really make sense, unless there are a lot of teachers, or the owner is really a tightwad. |
|
| Back to top |
|
|
yingwenlaoshi
Joined: 12 Feb 2007
Location: ... location, location!
|
| Posted: Wed Feb 11, 2009 10:06 am Post subject: |
|
|
| WTF's a food allowance? |
|
| Back to top |
|
|
ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
|
| Posted: Wed Feb 11, 2009 10:12 am Post subject: |
|
|
| yingwenlaoshi wrote: |
| WTF's a food allowance? |
Instead of getting 2.1 million salary with taxes etc based on 2.1 mil, the OP presumably gets 2.0 million with taxes etc and 100,000 as a tax free "food allowance."
Some expense items are reimbursable and not taxable: airfare, housing, supplies bought for the school etc. Is food in this category in Korea? Ask the NTS. |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
