· Qualifications & Hiring
  Process
· Working Conditions &
  Benefits
· Required visa document
· Criminal Background
  Check & Apostille
· KGC 소개
· 비자서류
· 구인등록
· 강사리스트
· 강사채용절차
Accommadation
Airfare
Alien Registration Card
Apostille in Korea
Association for Teachers of English in Korea
Banking in Korea
Basic Scotland Disclosure(Criminal record)- The British
Class Hours
Climate
Contract Termination
Criminal Background Check
Damage Utility deposite
Dress Code
Drinking Water
Education In Korea
Employee Duties
English Edition Newspapers
English Radio Station
F2 visa ( Foreigners married to Koreans)
F3 visa ( Spouse Visa)
FBI check-American
First Impression
Interview Tips
Japan Visa Run
Job Photos
Making a call
Necessary documents for Korean Consulate
New Visa Rule
Official Sealed Transcript
Overseas Korean Consulate (1)
 
 
Home | ESL Experience in Korea | Information for Teachers
Tax information
Name : Anna   Date : 2008-06-10
 

Deductions from Salary

 In many cases employers will only deduct around 4-7% from your total salary and will exclude deductions for the national pension plan. You don’t have to file a tax return in Korea

If your salary is 2,100,000 won , here is example.

Income tax (3.3%)          =      69,300 won

Residental tax                 =         6,930 Won

National Pension           =      94,500 won

National Health Insurance= 47,040 won

                                      Total = 217,770 won

1. Income Tax: Current rate is 3.3~7% of your salary depending on how much you make each month.

2. Resident tax (10% of the income tax)


3. National Pension: Current rate is 9% (4.5% will be deducted from teacher’s salary and another 4.5% will be paid by employer.

National Pension Corporation: (http://www.nps.or.kr/  )

Even its mandatory but still lots of hagwons are don't have national pension so please consult about it with your recruiter.

 Note:

When you leave Korea, you may be entitled to receive both your and your employer's contributions to Korea's National Pension Scheme only if you are a Canadian or American citizen due to an agreement between Korea and USA & Canada.


4. National Health Insurance (company registration, not local registration): Current rate is 4.48% (2.24% will be deducted from teachers salary and another 2.24% will be paid by employer).

National Health Insurance Corporation. (http://www.nhic.or.kr/english/main.html  )


5. Housing Deposit: Generally between 400,000 won~600,000 won depending on schools policy (usually deducted from first three months salaries but may be negotiable). This deposit is to cover any unpaid monthly service, utility, telephone charges and etc. at the completion of contract and employer agrees that payment of remaining amounts of the deposit will be made to employee at the end of contract period after all outstanding monthly service, utility, and telephone charges have been paid.

 
 

이전글 Banking in Korea
다음글 Drinking Water
· Public School
· Private Language
  Institute
· AfterSchool Program
· Comparative Table
Click for 서울특별시, South Korea Forecast
Enter amount:
Convert from:
Convert to: