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kneezah~
Joined: 08 Jan 2009
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 Posted: Wed Mar 25, 2009 10:23 pm Post subject: Oh sooo many deductions (>.<) |
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| I just got a breakdown of my first pay. I didn't realize there would be oh so many deductions. It looks like nearly 300,000 are coming off my pay for things like pension, school dinners, lunches, resident's tax (what's that?!) I was just wondering of this was normal... I'm with EPIK and work at a public elementary school. |
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Juregen
Joined: 30 May 2006
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| Posted: Wed Mar 25, 2009 10:26 pm Post subject: |
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| All of those deductions should be in your contract. |
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kneezah~
Joined: 08 Jan 2009
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| Posted: Wed Mar 25, 2009 10:29 pm Post subject: |
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| They're definitely not in mine. I had no idea I was supposed to pay for school lunches until one of the presenters mentioned it in training. I did know about the pension and insurance... But that's about it. |
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Ukon
Joined: 29 Jan 2008
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| Posted: Wed Mar 25, 2009 10:38 pm Post subject: |
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| The residents tax is only for the first month I believe....or maybe that was the apartment insurance fee(with SMOE) |
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feckingreal
Joined: 09 Mar 2009
Location: Craggy
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| Posted: Wed Mar 25, 2009 10:53 pm Post subject: |
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No one ever seems to mention residence tax...
First two years are tax free for foreigners, but once you sign that third contract be expecting to pay around 200,000 a month (non refundable)...
come again...
yup...thats what she said.... |
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feckingreal
Joined: 09 Mar 2009
Location: Craggy
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| Posted: Wed Mar 25, 2009 10:53 pm Post subject: |
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No one ever seems to mention residence tax...
First two years are tax free for foreigners, but once you sign that third contract be expecting to pay around 200,000 a month (non refundable)...
come again...
yup...thats what she said.... |
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feckingreal
Joined: 09 Mar 2009
Location: Craggy
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| Posted: Wed Mar 25, 2009 10:54 pm Post subject: |
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No one ever seems to mention residence tax...
First two years are tax free for foreigners, but once you sign that third contract be expecting to pay around 200,000 a month (non refundable)...
come again...
yup...thats what she said.... |
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Otherside
Joined: 06 Sep 2007
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| Posted: Wed Mar 25, 2009 11:07 pm Post subject: |
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| kneezah~ wrote: |
| They're definitely not in mine. I had no idea I was supposed to pay for school lunches until one of the presenters mentioned it in training. I did know about the pension and insurance... But that's about it. |
No one mentioned you'd be getting lunch for free either?
Actually you don't have to pay for school lunch, you have the option of not having school lunch and sorting yourself out, but that will be have a few results.
1. It will be a snub to the school, May hurt in the long run.
2. It'll cost you money, it's doubtful you'd be able to get lunch for the price of a school lunch.
3. It'll be a hassle, either preparing lunch in the morning or going to the shops during your break will cost you time and effort.
Resident tax... I believe that is 10% of your income tax? Unless you are Canadian, you shouldn't be paying Income or Resident tax in your first 2 years. |
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CentralCali
Joined: 17 May 2007
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| Posted: Wed Mar 25, 2009 11:30 pm Post subject: |
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| Otherside wrote: |
Actually you don't have to pay for school lunch, you have the option of not having school lunch and sorting yourself out, but that will be have a few results.
1. It will be a snub to the school, May hurt in the long run. |
Hasn't hurt me in the least and I just started my fourth year at this public middle school. A number of the Korean teachers have also opted not to use the school cafeteria. Some of them don't have time (according to them) and some of them bring their food in or eat elsewhere.
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| 2. It'll cost you money, it's doubtful you'd be able to get lunch for the price of a school lunch. |
Doesn't seem to have affected my finances. And since I follow a vegetarian diet, I prefer getting my food somewhere that can actually put together a vegetarian meal consistently.
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| 3. It'll be a hassle, either preparing lunch in the morning or going to the shops during your break will cost you time and effort. |
Don't know about your area, but my school's in a major urban area. There are restaurants galore within two minutes.
{Edited to fix a misspelling.}
Last edited by CentralCali on Thu Mar 26, 2009 5:00 am; edited 1 time in total |
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alphalfa
Joined: 12 Feb 2003
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| Posted: Wed Mar 25, 2009 11:53 pm Post subject: oh yes the deductions.. |
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I re-signed at my public school here in Incheon one month ago. I got
a pay raise of KW200,000/monthly from 2.3 to 2.5mil. I received my first pay under the re-signed contract on March 25th. The amount deposited into my account was LESS THAN 2.0mil - the first time in over 5 yrs I've had a take-home pay less than 2.0mil. The total amount deducted was almost 512,000 won. With my pay, there has been a TOTAL OF 6 DEDUCTIONS : 국민연금[PENSION], 건강보험[HEALTH INS], 수득세[INCOME TAX], 주민세[10% of INCOME TAX], 급식비[LUNCH FEE] and
노인장기요양보험[senior citzen assistance fee? * since last Sept. Last month this fee was 3,220won and in Jan the fee was 2,360won].
I received my March salary statement and on it are TWO ADDITIONAL deductions[one time deductions I believe ~ nonetheless came as a surprise]. One of these deductions is 고용보험료 2008yr 확정분 (1yr 1회 납부) AMOUNT 102,~00 .The other deduction is similar but the title is different- 고용보험료 2009yr 개산금 AMOUNT 126,~00. It was explained to me in Korean -still not sure what the deductions are.
I absorb this body blow only to be told by school adminstration that I will receive my tax refund IN JUNE ! not this month as expected[requested]
boys oh boys .... |
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oldtactics
Joined: 18 Oct 2008
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| Posted: Wed Mar 25, 2009 11:56 pm Post subject: |
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You get the pension back at the end of your contract, so it's not really 'gone', just.. delayed.
No one is forcing you to pay for the school lunches. Stop eating them, they'll stop charging you for them. |
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Tobias
Joined: 02 Jun 2008
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| Posted: Thu Mar 26, 2009 12:31 am Post subject: I Hear about the good jobs |
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| alphalfa wrote: |
...
The amount deposited into my account was LESS THAN 2.0mil - the first time in over 5 yrs I've had a take-home pay less than 2.0mil.
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A colleague of mine is looking for a new job now, and the pay is rather scanty for the jobs she's been offered. People keep saying "don't accept anything less than XX", but those high(er)-paying jobs are not advertised. At least she isn't finding them. She's obviously not connected.
But is this lower-salary business an overall trend? |
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Draz
Joined: 27 Jun 2007
Location: Land of Morning Clam
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| Posted: Thu Mar 26, 2009 1:30 am Post subject: Re: oh yes the deductions.. |
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| alphalfa wrote: |
I re-signed at my public school here in Incheon one month ago. I got
a pay raise of KW200,000/monthly from 2.3 to 2.5mil. I received my first pay under the re-signed contract on March 25th. The amount deposited into my account was LESS THAN 2.0mil - the first time in over 5 yrs I've had a take-home pay less than 2.0mil. |
Whoa, that can't possibly be right.
Hey, do they charge deductions on housing allowances? I've heard some people say they do, and other people say there is no tax on them. My current wage is higher than at my last jobs because of the housing allowance, but the amount deducted from my first pay this month is the same.
OP, how much is the charge for lunch? That can vary a lot between schools, same with the "school dinner" charge. If they deduct only the mandatory stuff (tax, health, pension, resident tax) it is about 200,000. Nearly half of that is pension. Remember that most nationalities can get a pension refund, which is equal to double how how you pay in which is equal to your monthly deductions. If you need money now it can suck, but in the long run it is really no big deal. |
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Otherside
Joined: 06 Sep 2007
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| Posted: Thu Mar 26, 2009 2:12 am Post subject: |
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| CentralCali wrote: |
| Otherside wrote: |
Actually you don't have to pay for school lunch, you have the option of not having school lunch and sorting yourself out, but that will be have a few results.
1. It will be a snub to the school, May hurt in the long run. |
Hasn't hurt me in the least and I just started my fourth year at this public middle school. A number of the Korean teachers have also opted not to use the school cafeteria. Some of them don't have time (according to them) and some of them bring their food in or eat elsewhere.
| Quote: |
| 2. It'll cost you money, it's doubtful you'd be able to get lunch for the price of a school lunch. |
Doesn't seem to have affected my finances. And since I follow a vegetarian diet, I prefer getting my food somewhere that can actually put together a vegetarian meal consistently.
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| 3. It'll be a hassle, either preparing lunch in the morning or going to the shops during your break will cost you time and effort. |
Don't know about your area, but my school's in a major urban area. There are restaurants galore withing two minutes. |
1. Some schools will take this as a snub. It depends on your school and your situation.
2. My school charges 2500 a meal. I can have as much as I want. I don't know of many restaurants where I can beat that. (No, I don't want Gimbab 5 days a week).
3. I work in a rural area. 1 crap restaurant within 10minutes walk.
I'm aware every situation is different. I was simply raising potential pitfalls for the OP (as he seems to be in his first month) if he chooses NOT to go with the school lunch. |
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lifeinkorea
Joined: 24 Jan 2009
Location: somewhere in China
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| Posted: Thu Mar 26, 2009 2:30 am Post subject: |
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The food is cheap at the school beacuse the food is cheap all around, I'm talking quality here. It tastes bad too.
So, you can say we pay more at a family restaurant than McDonald's all you want. However, if you take into account this is a meal to meal comparison, you will never realize that it's the SAME PRICE if you actually buy in bulk or make 2 or 3 meals from just one shopping run. Divide that by 2 or 3, and you will get less than 2,000 won per meal.
You can have better meals and some extra money to buy something to drink, or you can compare 1 meal to 1 meal (never going to 2) and feel like you're saving money while your taste buds go to waste on the "waste" food. Just be careful of that other "waist", it might get bigger as a result  |
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