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cincynate
Joined: 07 Jul 2009
Location: Jeju-do, South Korea
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 Posted: Tue Jun 11, 2013 1:28 am Post subject: Severance Payment Question <<Ttompaz>> |
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I have extended with my current Hakwon employer for 4 additional months beyond the term of my original contract.
My employer wants to pay my severance payment at the end of the first contract, so that he will have to pay me nothing at the end of the 2nd (part) contract. My understanding was that anything beyond a year of continuous employment, and they will have to pay a prorated amount for each additional full month worked. I researched the labor law and the only thing I could find was this:
(3) An employer may, at the request of workers, pay severance pay in advance for the period of continuous employment of the worker concerned by adjusting the balances of remunerations before his retirement, irrespective of the provisions of paragraph (1). In this case, the number of years of continuous employment for the computation of severance pay shall be counted anew from the moment the latest adjustment of balances has been made.
Is there anything I can do to make them hold off on paying me my severance so that they will have to pay me the full amount?
Thank you! |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Jun 11, 2013 3:03 am Post subject: |
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Legally / technically, yes.
In practical terms... no.
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ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
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| Posted: Wed Jun 12, 2013 4:13 pm Post subject: Re: Severance Payment Question <<Ttompaz>> |
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| cincynate wrote: |
I have extended with my current Hakwon employer for 4 additional months beyond the term of my original contract.
My employer wants to pay my severance payment at the end of the first contract, so that he will have to pay me nothing at the end of the 2nd (part) contract. My understanding was that anything beyond a year of continuous employment, and they will have to pay a prorated amount for each additional full month worked. I researched the labor law and the only thing I could find was this:
(3) An employer may, at the request of workers, pay severance pay in advance for the period of continuous employment of the worker concerned by adjusting the balances of remunerations before his retirement, irrespective of the provisions of paragraph (1). In this case, the number of years of continuous employment for the computation of severance pay shall be counted anew from the moment the latest adjustment of balances has been made.
Is there anything I can do to make them hold off on paying me my severance so that they will have to pay me the full amount?
Thank you! |
The law regarding severance pay has changed. It is no longer allowed to pay out severance early. The option for an employee to request early payout was ended so workers would accumulate the cash until retirement or actual separation from work when the cash would be needed.
Legally, you employer cannot pay your severance until you finish, and then it must be based on the full time you have worked, including the additional 4 months. |
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OBwannabe
Joined: 16 Feb 2008
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| Posted: Tue Aug 13, 2013 5:00 pm Post subject: Re: Severance Payment Question <<Ttompaz>> |
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| ontheway wrote: |
| cincynate wrote: |
I have extended with my current Hakwon employer for 4 additional months beyond the term of my original contract.
My employer wants to pay my severance payment at the end of the first contract, so that he will have to pay me nothing at the end of the 2nd (part) contract. My understanding was that anything beyond a year of continuous employment, and they will have to pay a prorated amount for each additional full month worked. I researched the labor law and the only thing I could find was this:
(3) An employer may, at the request of workers, pay severance pay in advance for the period of continuous employment of the worker concerned by adjusting the balances of remunerations before his retirement, irrespective of the provisions of paragraph (1). In this case, the number of years of continuous employment for the computation of severance pay shall be counted anew from the moment the latest adjustment of balances has been made.
Is there anything I can do to make them hold off on paying me my severance so that they will have to pay me the full amount?
Thank you! |
The law regarding severance pay has changed. It is no longer allowed to pay out severance early. The option for an employee to request early payout was ended so workers would accumulate the cash until retirement or actual separation from work when the cash would be needed.
Legally, you employer cannot pay your severance until you finish, and then it must be based on the full time you have worked, including the additional 4 months. |
Is this true? Sucks for those who want to send lump sums home at the end of contract to pay debts, but want to stay at their current place of employment. Kinda gives one the incentive to not re-sign if they are in need of the lump sum of severance. That sucks!
Where did you hear about this? Do you have a link you could share? I'd like to learn more. |
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nicwr2002
Joined: 17 Aug 2011
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| Posted: Wed Aug 14, 2013 1:16 am Post subject: |
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| I think it's always been the policy for companies to only give severance when one actually quits the job. None of my Korean teachers get severance until they left the company. |
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YTMND
Joined: 16 Jan 2012
Location: You're the man now dog!!
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| Posted: Wed Aug 14, 2013 1:24 am Post subject: |
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| My employer wants to pay my severance payment at the end of the first contract, so that he will have to pay me nothing at the end of the 2nd (part) contract. |
Take it and move on. The whole premise is that you would sign for another year, but if you know it's 4 from the get go then what are you even pondering about? |
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