Korean Job Discussion Forums

[Happyandyouknowit]

This might be a silly question, but when you receive your severance pay, do you receive the equivalent salary written in the contract without deduction?
For example if my pay is 2,000,000 won a month, do I receive that amount of money or does SMOE (in this case) take something out of it like tax�?

[the ireland]

it's all tax / pension / national insurance deductable. so instead of paying 4.5% pension on 2 million you will pay 4.5% on 4million (double your normal amount, same for tax etc)

I am open to being proven wrong, but it's how it worked in my case if i
remember correctly

[hochhasd]

[Alaskaman]

Wrong. Pension and medical are not deducted, however, tax will be and should be deducted.
Thus the 2 million minus the tax for said money will be or should be the amount that you are given.

[hochhasd]

[Alaskaman]

[quote="hochhasd"][quote="Alaskaman"]Wrong. Pension and medical are not deducted, however, tax will be and should be deducted.
Thus the 2 million minus the tax for said money will be or should be the amount that you are given.

If you are from America or another country on the tax exempt list you get the whole amount with nothing taken out.

Only if you work at a public school or a University and only for the first two years that you are in Korea.

[buster brown]

Alaskaman is right. It's taxable income, but pension, insurance, or any other miscellaneous deductions shouldn't be taken out. If they are, you have a case against your employer.