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jonbowman88
Joined: 20 Jan 2009
Location: gwangju, s korea
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 Posted: Thu Jul 19, 2012 6:20 pm Post subject: Question about Severance for Public School Teacher |
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As part of the EPIK contract, and law I believe, you are entitled to approximately 1 month pay at the end of your 1 year contract, or severance pay.
This has always been paid at the end of every year. All of a sudden the Gwangju office is telling us the law has changed and that they must now pay us our severance once we find a new job. (if i work at this job for 10 more years, then i'll get all my severance after 10 years.)
Is this happening to everyone? I'm kinda pissed about it because it wont be accumulating interest. Plus I want my frickin money now. |
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goreality
Joined: 09 Jul 2009
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| Posted: Thu Jul 19, 2012 7:10 pm Post subject: |
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| If you get a pay raise the total amount will reflect your new rate of pay. Besides interest is low and you will just spend it on a galazy s3 |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Thu Jul 19, 2012 7:18 pm Post subject: Re: Question about Severance for Public School Teacher |
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| jonbowman88 wrote: |
As part of the EPIK contract, and law I believe, you are entitled to approximately 1 month pay at the end of your 1 year contract, or severance pay.
This has always been paid at the end of every year. All of a sudden the Gwangju office is telling us the law has changed and that they must now pay us our severance once we find a new job. (if i work at this job for 10 more years, then i'll get all my severance after 10 years.)
Is this happening to everyone? I'm kinda pissed about it because it wont be accumulating interest. Plus I want my frickin money now. |
The law has not changed...this has been the law for years. All three of my public schools beginning as far back as 2005 followed this policy. However some schools kept up the yearly payments. It's just being standardized is all. |
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plchron
Joined: 26 Feb 2011
Location: Korea
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| Posted: Thu Jul 19, 2012 8:10 pm Post subject: |
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| they are required to pay you severance within 14 days of your contract end date. If you stay at a school for more than one year add 1/12 for every extra month you stay, as long as you were not paid out at the end of your first 12 months. |
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plchron
Joined: 26 Feb 2011
Location: Korea
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| Posted: Thu Jul 19, 2012 8:18 pm Post subject: |
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| they are required to pay you severance within 14 days of your contract end date. If you stay at a school for more than one year add 1/12 for every extra month you stay, as long as you were not paid out at the end of your first 12 months. |
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plchron
Joined: 26 Feb 2011
Location: Korea
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| Posted: Thu Jul 19, 2012 8:18 pm Post subject: |
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| they are required to pay you severance within 14 days of your contract end date. If you stay at a school for more than one year add 1/12 for every extra month you stay, as long as you were not paid out at the end of your first 12 months. |
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plchron
Joined: 26 Feb 2011
Location: Korea
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| Posted: Thu Jul 19, 2012 8:18 pm Post subject: |
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| they are required to pay you severance within 14 days of your contract end date. If you stay at a school for more than one year add 1/12 for every extra month you stay, as long as you were not paid out at the end of your first 12 months. |
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plchron
Joined: 26 Feb 2011
Location: Korea
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| Posted: Thu Jul 19, 2012 8:18 pm Post subject: |
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| they are required to pay you severance within 14 days of your contract end date. If you stay at a school for more than one year add 1/12 for every extra month you stay, as long as you were not paid out at the end of your first 12 months. |
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plchron
Joined: 26 Feb 2011
Location: Korea
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| Posted: Thu Jul 19, 2012 8:18 pm Post subject: |
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| they are required to pay you severance within 14 days of your contract end date. If you stay at a school for more than one year add 1/12 for every extra month you stay, as long as you were not paid out at the end of your first 12 months. |
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