!DAEJEON! Amounts we get paid at the completion of our one year EPIK contracts

[roderick]

These are what I can gather we are to be paid at the end of our contracts:

Severance Pay: Roughly one month's salary

Exit Fee: 1,300,000 Won

Pension Pay Out (Some countries' citizens don't get this)

Now, the question is this:
In our contracts it allows the employer to pay out extra bonuses as they see fit.
The above are mandatory, of course, but does anyone know of anyone, or is someone, that has been paid a bonus?

Also, is there a difference from province to province?
I am particularly interested in people from Daejeon, since I work in this city.
At our in-service training it was implied that we would get:
pension,
severance,
exit fee
AND an additional amount which would be almost equivalent to one month's salary as a bonus for completing the contract.

Is there any truth to this?????

[cinnamon]

I know this is definitely not the case for Gyeongbuk province. It sounds unlikely, but I suppose every province will be different if every school is different. Good luck with that, here's hoping for your sake!  :)

[taeyang]

as far as i know.... no.

then again, i have only renewed my contract in daejeon.

but the payouts you listed: severance, exit and pension are the only bonuses.

that's on top of regular salary too.

[waygookshawn]

severance,
exit fee
AND an additional amount which would be almost equivalent to one month's salary as a bonus for completing the contract.

Is there any truth to this?????
[/quote]

The severance IS the bonus....so, when you leave, you will get:
Severence
Exit
Pension
Your regular paycheck


No extra bonuses....sorry

[buckeyebill]

What about the key deposit?

[taeyang]

i mean.. if you paid the key deposit, with any contract (not just daejeon, or epik) you should get it back.

but it's my understand that technically the apartment isn't yours. it belongs, and is rented by, your school. it should be their responsibility to pay the key money since they pay the rent too.



i did, however, think another bit of money that's applicable to the OP.

when i arrived in 2009, they started taking 300,000 won from your first paycheque as a security deposit. so presumably you'd get that money back at the end of a completed contract too.

[Daejeon]

What about the key deposit?

A return on a deposit is a return of lent capital, not a bonus.  In anycase, that is given to an estate agent not to the MOE.

I think you misheard/understood.

Severance is the completion bonus.  It is equal to a months salary exactly on a pro rata basis less tax.