| View previous topic :: View next topic |
| Author |
Message |
Teufelswacht
Joined: 06 Sep 2004
Location: Land Of The Not Quite Right
|
 Posted: Mon Feb 12, 2007 6:28 pm Post subject: Jeju Ministry of Education Severance Pay |
 |
|
I was bored this morning so decided to look around at the job postings to see what the market is like. I came across an ad for Jeju Ministry of Education. Something caught my eye:
| Quote: |
- 100% severance pay(If you resign the contract for another
year) |
Here in the same ad:
| Quote: |
Severance pay: you will be paid one month's salary as a severance payment if you complete your one-year contract, in accordance with the Labor Standards Act of Korea
|
http://www.worknplay.co.kr/recruitings/public_jejudo_ministry.htm
It seems a bit confusing. Will they or won't they pay severance if you don't re-sign? I don't think they can withhold severance pay if you don't re-sign. But ya never know. If you apply for the job you might want to read this part of the contract carefully (as well as everything else). Just a thought. |
|
| Back to top |
|
 |
ilovebdt
Joined: 03 Jun 2005
Location: Nr Seoul
|
| Posted: Mon Feb 12, 2007 6:31 pm Post subject: |
|
|
As far as I know severance must be paid on completion of a contract.
It is not dependant on whether the employee re-signs for another year or not.
Unless of course they have different labour laws on Jeju it being an island an all 
ilovebdt |
|
| Back to top |
|
|
ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
|
| Posted: Mon Feb 12, 2007 7:29 pm Post subject: |
|
|
My guess is that the ad is poorly worded.
They pay your severance whether you re-sign or not.
SOME may pay your severance annually rather than wait until you actually sever your employment and pay the total of accumulated severance. |
|
| Back to top |
|
|
Teufelswacht
Joined: 06 Sep 2004
Location: Land Of The Not Quite Right
|
| Posted: Mon Feb 12, 2007 10:21 pm Post subject: |
|
|
| ttompatz wrote: |
SOME may pay your severance annually rather than wait until you actually sever your employment and pay the total of accumulated severance. |
Good point. That may explain it. |
|
| Back to top |
|
|
ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
|
| Posted: Mon Feb 12, 2007 10:48 pm Post subject: |
|
|
| Teufelswacht wrote: |
| ttompatz wrote: |
SOME may pay your severance annually rather than wait until you actually sever your employment and pay the total of accumulated severance. |
Good point. That may explain it. |
And in that regard please allow me to quote from the Korean labor standards act, Article 34 paying attention to sub (3)...
Article 34 (Severance Pay System)
(1) An employer shall establish a severance pay system whereby
an average wage of more than 30 days shall be paid for each
year of consecutive years employed as a severance pay to a
retired worker; however, if the worker was employed for less
than one year, this shall not apply.
(2) In establishing the severance pay system stipulated in
paragraph (1), a differential severance pay system shall not be
permitted within one business.
(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.
(4) In cases where an employer has enrolled in pension
insurance program for retirees or a retirement lump sum payment
trust as prescribed by the Presidential Decree(hereinafter referred
to as �pension insurance, etc.�) for workers, whereby workers,
as the insured or a beneficiary, receive lump sum payment at
the time of retirement, or draw their pensions, it shall be
deemed that the employer has set up a severance pay scheme
in accordance with paragraph (1). The amount of lump sum by
the retirement insurance, etc., however, shall not be smaller
than that of severance pay pursuant to paragraph (1).
<Amended by Act No. 5473, Dec. 24, 1997> |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
