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Spice
Joined: 01 Jun 2012
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 Posted: Wed Oct 24, 2012 9:15 pm Post subject: Quick question... |
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Hi all. not to take too much of your valuable time, but how long realistically would you wait after your contract renewal date for your severance and renewal bonus check?
I just need to be prepared (contract says 'within' first month after renewal date) - so I felt they actually needed to pay it with my last paycheck.
why wait 30 days...right!
any input appreciated.
Spice. |
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newb
Joined: 27 Aug 2012
Location: Korea
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| Posted: Wed Oct 24, 2012 9:48 pm Post subject: Re: Quick question... |
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| Spice wrote: |
Hi all. not to take too much of your valuable time, but how long realistically would you wait after your contract renewal date for your severance and renewal bonus check?
I just need to be prepared (contract says 'within' first month after renewal date) - so I felt they actually needed to pay it with my last paycheck.
why wait 30 days...right!
any input appreciated.
Spice. |
I assume you're with PS system. If so, PS won't pay your severance on a yearly basis any more. You'll get severance when you leave the province you've signed the contract with or leave Korea. They'll pay the lump sum when you leave.
Renewal bonus must be paid within 30 days from the new contract start date. |
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Spice
Joined: 01 Jun 2012
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| Posted: Wed Oct 24, 2012 10:23 pm Post subject: really? |
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Really?!? oh no! that's not gonna be good. My contract says nothing of the sorts as well. It clearly says in 1 month.
That should 'spice' things up a bit!
Spice. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Wed Oct 24, 2012 11:27 pm Post subject: Re: Quick question... |
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| Spice wrote: |
Hi all. not to take too much of your valuable time, but how long realistically would you wait after your contract renewal date for your severance and renewal bonus check?
I just need to be prepared (contract says 'within' first month after renewal date) - so I felt they actually needed to pay it with my last paycheck.
why wait 30 days...right!
any input appreciated.
Spice. |
Labor law says 14 days from your last date of employment or contracted due date.
If you are still employed they are NOT required to pay out your severance (commonly (incorrectly) refereed to as your "contract completion bonus) until you actually terminate your employment.
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