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schul251
Joined: 28 Sep 2006
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 Posted: Thu Oct 26, 2006 1:15 am Post subject: Is the first month's salary the severance pay? |
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Check out this clause in my contract. Is the first month's salary supposed to be withheld and then paid at the end of the contract as severance pay? Is this legal?
1.2 Monthly Salary & Severance Pay. The monthly compensation for this employment shall initially be set at _Two million and three hundred thousand_ (_2,300,000_) Korean won, which shall be paid monthly only upon full completion of all duties and obligations arising from the applicable month of employment. Salary will commence from the first day of teaching and shall be pro-rated for the first month in the event that the Instructor does not work for the full month during the first pay period. When an employee is absent from scheduled teaching duties, salary will be deducted according to the substitute instructor�s overtime rate. The Instructor shall be entitled to the payment of first (1) month salary of _Two million and three hundred thousand_ (_2,300,000_) Korean Won as severance pay upon the successful completion of the full term of this Agreement minus any applicable taxes and other withholdings as required by law.
The monthly compensation, minus any applicable taxes or other withholdings required by law, will be paid out on the _10th_ day of each month with the exception of holidays and other days that banks are normally closed (including weekend days) in which case the monthly wages will be paid on the next following business day. |
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poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
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| Posted: Thu Oct 26, 2006 1:35 am Post subject: |
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| Theres a whole lot of stuff really wrong in there...not just the funky wording of the 1st month. Maybe grotto or someone can comment. I hope you haven't signed it... |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Thu Oct 26, 2006 1:37 am Post subject: Re: Is the first month's salary the severance pay? |
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| schul251 wrote: |
Check out this clause in my contract. Is the first month's salary supposed to be withheld and then paid at the end of the contract as severance pay? Is this legal?
1.2 Monthly Salary & Severance Pay. The monthly compensation for this employment shall initially be set at _Two million and three hundred thousand_ (_2,300,000_) Korean won, which shall be paid monthly only upon full completion of all duties and obligations arising from the applicable month of employment. Salary will commence from the first day of teaching and shall be pro-rated for the first month in the event that the Instructor does not work for the full month during the first pay period. When an employee is absent from scheduled teaching duties, salary will be deducted according to the substitute instructor�s overtime rate. The Instructor shall be entitled to the payment of first (1) month salary of _Two million and three hundred thousand_ (_2,300,000_) Korean Won as severance pay upon the successful completion of the full term of this Agreement minus any applicable taxes and other withholdings as required by law.
The monthly compensation, minus any applicable taxes or other withholdings required by law, will be paid out on the _10th_ day of each month with the exception of holidays and other days that banks are normally closed (including weekend days) in which case the monthly wages will be paid on the next following business day. |
It says that the severance is equal to the first months salary.
It is still illegal.
Severance is supposed to be equal to the AVERAGE of your total monthly salaries (including overtime) for the last 3 months of employment.
I don't have the act handy here but I think it is section 46 of the labor standards act that this contravenes.
below is quoted from the ministry of labor website
http://english.molab.go.kr/english/policy/working_standards/pol0301.jsp
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If a worker has worked for more than one year in a workplace with 5 workers or more, the worker shall be given severance pay in the amount of at least 30-day average wages for each year of service. Severance pay, in principle, should be paid after retirement. However, should a worker request, he or she may receive, in advance, severance pay corresponding to their years of service to date. |
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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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| Posted: Thu Oct 26, 2006 1:37 am Post subject: |
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| shall be entitled to the payment of first (1) month salary of |
No, I think it's a typo and you should call attention to it during your negotiations with your prospective boss. It should read 'one (1) month salary...' |
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Hater Depot
Joined: 29 Mar 2005
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| Posted: Thu Oct 26, 2006 2:42 am Post subject: |
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| Well really it should read 'in accordance with Korean law'. |
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