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AS ko lang po..

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AS ko lang po..

Post by paradise on Thu Jan 14, 2010 10:08 pm

good day po ..I just want to confirm what our pojang said this morning.. we had our few minutes meeting regarding the new labor policy or law. that our basic hourly rate is 4110 won which is correct but regarding our tejaegum is that we can avail it if we completed our one year of work or 365 days but there is plus 13 days to make it 378 days. what is this 13 days for since we have only signed 1 year contract in our company? and next question, what if , I'm going to have a 2 weeks or lets say 15 days vacation in the philippines ,can I still avail this tejaegum? I'm covered with this 5 straight years and I want to have a vacation first before transferring to another co.( my 3rd release to be )..THANK YOU SO MUCH & MORE POWER TO SULYAPINOY!!!

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Re: AS ko lang po..

Post by zack on Fri Jan 15, 2010 9:04 am

paradise wrote:good day po ..I just want to confirm what our pojang said this morning.. we had our few minutes meeting regarding the new labor policy or law. that our basic hourly rate is 4110 won which is correct but regarding our tejaegum is that we can avail it if we completed our one year of work or 365 days but there is plus 13 days to make it 378 days. what is this 13 days for since we have only signed 1 year contract in our company? and next question, what if , I'm going to have a 2 weeks or lets say 15 days vacation in the philippines ,can I still avail this tejaegum? I'm covered with this 5 straight years and I want to have a vacation first before transferring to another co.( my 3rd release to be )..THANK YOU SO MUCH & MORE POWER TO SULYAPINOY!!!

Hello paradise,

according to your inquiry regarding the Retirement Pay System (severance Pay or tijikom/tejaegum):

an employer shall pay workers who retire 30 days or more of average wages for each year of their consecutive service as retirement pay within 14 days from the date on which there occurs a cause for the payment.

kabayan to explain the average wage :

Code:
Average wages are the amount calculated by dividing the total  amount of wages paid to the relevant worker during three calendar months prior to the date of calculation by the total number of calendar days during those three calendar months.
    Also, In cases where the payment rate of bonus is determinded per year-unit, 3/12 of the total amount for a year shall be included in average wages

We can compute our Tejaegum by this equation :

Code:
Calculation of retirement pay
  - Statutory retirement pay = daily average wage 30 (days) (total days of service/ 365)

So for example using the 4110 per hour 8 hrs per day working time, our daily average wage is 32880 won

then our :
Statutory Retirement pay = 32880 x 30days x 365 days (1 year ) / 365
SRP = (32880 x 30days) x (365 /365) = W 986,400.00
note : your 1 yr may not be equal to 365 days because of some justifiable reasons to negate some number of dates

the 13 days which is actually 14 days that your boss is mentioning is the period from which you are entitled to receive your Severance pay ( The minimum is 1 year) that is why they are given 14 days to comply and give your Severance pay.

Regarding your second question, if you have been rehired, which means you have finished your 3-yr sojourn period and has been rehired by your last employer, then you can ask your employer to give you a vacation, irregardless of how long your vacation will be. Then after coming back from your vacation to the Philippines, and you have a justifiable reason to file a change of workplace, then you could proceed in changing your workplace. you are given 2 counts of releases from the period of your re-hire which is 1 yr and 10 mos. (its not 5 yrs total but 3yrs+1yr&10mos).

If the case is you are planning to change your workplace at the end of your 3 yr sojourn period, then my friend, you might be doing a mistake because it would mean that you have just ended your stay here in Korea by not signing a rehire contract to your current employer. Only your current employer at the end of your sojourn period can rehire and give you the 1 yr and 10mos extension.

About your tejaegum, if you are not to be rehired, definitely you ill be able to get your tejaegum at the end of your sojourn period, but since tejaegum is a retirement payment system, being rehired would not mean that you are retiring, so you will get your tejaegum only after you have finished your 1 yr and 10mos extension to your company or.. if you have sucessfully availed of a release after you have been rehired, so it would mean 3 yrs plus the number of days you have worked from your day one of your rehire(start of the 1 yr and 10mos).

I hope this answers all your questions kabayang paradise.

Keep on visiting SULYAPINOY and reading our newsletter for more updates. cheers
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