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macadamian
Joined: 14 Sep 2006
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 Posted: Fri Sep 15, 2006 3:01 pm Post subject: Bonus Contract |
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I was hoping for some advice reguarding my contract. I am a teacher from Canada who has 2 years teaching experience, but none of them in Korea. I was offered a contract for 2.3 million won for 6 hours of teaching M-F. When I got the contract it came in 2 parts the first part said my wage was 2 million won for 6hrs/M-F, then there was a bonus contract that said I would get 100,000 won/month for my teaching experience and 200,000 won for pension. From the readings I have done on this website, pensions are mandatory and as a Canadian I would get all the money back from my pension when I left anyways. I am not sure if this is just the schools way of trying to rip me off, or if its a legit contract? I was told since it was for a Poly school that it was a standard contract and that they don't really change them? I am not really sure what to believe and would like some advice.
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Fri Sep 15, 2006 3:12 pm Post subject: Re: Bonus Contract |
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| macadamian wrote: |
I was hoping for some advice reguarding my contract. I am a teacher from Canada who has 2 years teaching experience, but none of them in Korea. I was offered a contract for 2.3 million won for 6 hours of teaching M-F. When I got the contract it came in 2 parts the first part said my wage was 2 million won for 6hrs/M-F, then there was a bonus contract that said I would get 100,000 won/month for my teaching experience and 200,000 won for pension. From the readings I have done on this website, pensions are mandatory and as a Canadian I would get all the money back from my pension when I left anyways. I am not sure if this is just the schools way of trying to rip me off, or if its a legit contract? I was told since it was for a Poly school that it was a standard contract and that they don't really change them? I am not really sure what to believe and would like some advice.
Thanks |
An anex or an addendum to a contract is perfectly legal. It allows a firm to use a standarized contract and then have the addendum to that contract to modify or make an addition to something in that contract.
Just remember that it is part of the contract and you should staple it all together for future reference AND it MUST be signed by BOTH parties who are signatory to the contract.
As to the CONTENT of the additions... that is yet to be determined. What is your question about pension? It is very unclear.
If you were just seeking a clarification then yes PENSION IS MANDATORY under Korean law ( http://www.nps4u.or.kr/eng/enpsk.html?code=./enpsk/a06.html ) and as a Canadian you will get your pension deposits (your contribution AND your employers contribution) refunded by the National Pension Plan AFTER you depart Korea. You should however make your application during the month before your departure. |
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macadamian
Joined: 14 Sep 2006
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| Posted: Fri Sep 15, 2006 3:23 pm Post subject: |
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| Sorry about the clarity of the question. I would like to know if the pension should be part of the regular contract since it is Korean law, and not some Bonus. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Fri Sep 15, 2006 3:27 pm Post subject: |
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| macadamian wrote: |
| Sorry about the clarity of the question. I would like to know if the pension should be part of the regular contract since it is Korean law, and not some Bonus. |
It doesn't matter where in the contract it is. That is NOT a "bonus" contact, it is just an addition (addendum) for stuff they missed in the first part.
As long as BOTH parts are together, properly signed and treated as one document (contract and addendum) then you are fine. |
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macadamian
Joined: 14 Sep 2006
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| Posted: Fri Sep 15, 2006 3:35 pm Post subject: |
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| Thanks for the help |
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dulouz
Joined: 04 Feb 2003
Location: Uranus
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| Posted: Fri Sep 15, 2006 3:35 pm Post subject: |
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| The idea they split it up is bad. They just soiled the relationship. |
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Novernae
Joined: 02 Mar 2005
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| Posted: Fri Sep 15, 2006 8:09 pm Post subject: Re: Bonus Contract |
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| macadamian wrote: |
I was hoping for some advice reguarding my contract. I am a teacher from Canada who has 2 years teaching experience, but none of them in Korea. I was offered a contract for 2.3 million won for 6 hours of teaching M-F. When I got the contract it came in 2 parts the first part said my wage was 2 million won for 6hrs/M-F, then there was a bonus contract that said I would get 100,000 won/month for my teaching experience and 200,000 won for pension. From the readings I have done on this website, pensions are mandatory and as a Canadian I would get all the money back from my pension when I left anyways. I am not sure if this is just the schools way of trying to rip me off, or if its a legit contract? I was told since it was for a Poly school that it was a standard contract and that they don't really change them? I am not really sure what to believe and would like some advice.
Thanks |
This is not a contract for 2.3. It is a contract for 2.1. Pension is not counted as part of your pay, it is deducted from your pay... They are just trying to make your salary look better than it is. |
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