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cyeast97
Joined: 22 Nov 2010
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 Posted: Tue Nov 30, 2010 4:40 pm Post subject: Should I be concerned with this in Contract? |
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**Additional Matter: The "employer" agrees to pay "employee" additional 100,000 won a month on top of salary instead of paying into pension.
Is there any negative reason as to why the would rather do this?
The salary would be at 2.2 million won a month. |
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curlyhoward
Joined: 03 Dec 2008
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| Posted: Tue Nov 30, 2010 5:23 pm Post subject: Re: Should I be concerned with this in Contract? |
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| cyeast97 wrote: |
**Additional Matter: The "employer" agrees to pay "employee" additional 100,000 won a month on top of salary instead of paying into pension.
Is there any negative reason as to why the would rather do this?
The salary would be at 2.2 million won a month. |
Is the employer enrolling you in the National Health Insurance? Not some useless private insurance? If he's avoiding pension, he's probably avoiding national health insurance.
Some people will chime in and tell you to take the 100,000 instead of the pension. The problem is, if he's dodging pension, he'll probably dodge anything else that benefits him to the slightest. Be prepared to get a hard reaming. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Tue Nov 30, 2010 7:50 pm Post subject: Re: Should I be concerned with this in Contract? |
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| cyeast97 wrote: |
**Additional Matter: The "employer" agrees to pay "employee" additional 100,000 won a month on top of salary instead of paying into pension.
Is there any negative reason as to why the would rather do this?
The salary would be at 2.2 million won a month. |
Well if you are Canadian or American or Australian you get a pension refund at the end of your contract. Every month 4.5% gets taken off your paycheck and put in a pension account. And you are entitled to get that money at the end of your contract. By law the EMPLOYER must put in a matching 4.5% every month as well so in essence you get free money 4.5%*12=54% of one month salary...so at 2.2 million it's about the same as you would get with the 100,000 won a month.
Only thing is...it's illegal. You must be registered with pension as an employee. Also you will not be getting any health care as pension and health care are linked. He's trying to save money on his share of health care. But health care is only about 2.5% of salary or roughly thereabouts so ask yourself. If he is willing to skimp on 2.5% why not on 100%? Wouldn't he have even more of an incentive? And what happens if you get sick or get in an accident?
So you would be working for a shady employer and illegally to boot.
Your call on this one...but I wouldn't risk it. |
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