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tijikom computation

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tijikom computation

Post by kimjosh on Tue Nov 30, 2010 9:57 am

good morning sir!sabi po ng mga kaibigan ko na kulang ang tijikom ko na ibinigay s akin ng sajang ko.naka-3 year n po ako at nakabalik na dito sa korea.pwed po ba kayong magbigay ng computation ng tijikom na naka-korean character?gus ko lang ipakita sa sajang ko para may katunayan ako na kulang pa ang kanilang ibinigay na tijikom.maraming salamat po!God bless you!

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Re: tijikom computation

Post by marzy on Wed Dec 01, 2010 7:49 am

http://www.sulyapinoy.org/eps-things-you-need-to-know-f58/tijikom-computation-t485.htm please refer to the link for computation of toejikeum..

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Re: tijikom computation

Post by arnold23 on Tue Dec 21, 2010 10:55 pm

tanong ko lng po, about kukmin ko,,dumating po ung letter from NPS ,nkita kopo amt ng kukmin ko, ang kaltas po ng kukmin ko sa opisina every month sa payslip ko is 38kwon plus,pero nung nkita ko sa NPS letter ang total monhly contribution ko na nakalagay ay 56kwon plus lng po total monthly contribution ko,,, bakit po ganun?

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Re: tijikom computation

Post by airlinehunk24 on Wed Dec 22, 2010 9:20 pm

From Labor Standard ACT.

Article 34 (Retirement Allowances System)

(1)An employer shall establish a retirement allowance system whereby an average wage of more than 30 days shall be paid for each year of consecutive years employed as a retirement allowance to a retired worker; however, if the worker was employed for less than one year, this shall not apply.
(2)In establishing the retirement allowance system stipulated in paragraph (1), a differential retirement allowance system shall not be permitted within one business.
(3)An employer may, at the request of workers, pay retirement allowances 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 retirement allowances 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 its equivalents(hereinafter referred to as "pension insurance for retirees") for workers, whereby workers receive lump sum payment at the time of retirement, or draw their pensions, it shall be deemed that the employer has set up a retirement allowance scheme in accordance with paragraph (1). The amount of lump sum by pension insurance, however, shall not be smaller than that of retirement allowances pursuant to paragraph (1).


For example:
1) Juan have worked in a company from January 2005 to November 2008. His last 3-months salary are as follow...
September (30 Calendar Days) ~ 1,200,000 KRW
October (31 Calendar Days) ~ 1,100,000 KRW
November (30 Calendar Days) ~ 1,300,000 KRW
2) Get the average ~ [1,200,000 + 1,100,000 + 1,300,000] / [30+31+30] = 39,560 won

3) Get the equivalent number of days for 2-years and 11-months of working period...
Note: Retirement allowance is paid in the amount of average wages of 30-days for working period of one year. So, 1-year or 12months is equivalent to 30days. 2-years is equivalent to 60-days. How about the 11-months for his 3rd year working period?

Solution:
Let X = equivalent days for 11-months
a) So, 12months/30days = 11months/X
b) By cross multiplication, 12months(X) = 11months(30days)
c) X = 27.5

4) Retirement Allowance = 39,560 won x [30days(1st year) + 30days(2nd year) + 27.5(11months)

5) So, your total retirement allowance is 3,461,500won.

Note: Samsung Insurance Company shall only pay computation base on your basic salary. So, the excess amount due to overtimes must be paid by your employer.


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Re: tijikom computation

Post by airlinehunk24 on Wed Dec 22, 2010 9:34 pm

From National Pension Service,


About the National Pension Scheme for Foreigners

▶The National Pension Scheme is a Social Security System implemented by the Government
to ensure the stable livelihood by collecting contributions and paying pension benefits for
the insured or their dependents, to prepare for retirement or unexpected calamities such as
disability and death.

Compulsory Coverage of the National Pension Scheme
▶Foreigners aged between 18 and 60 residing in Korea are subject to the compulsory
coverage of the National Pension Scheme, the same as Korean nationals. Foreigners whose
countries don’t cover Korean nationals under their public pension schemes, however, are
excluded from coverage under the NPS.
▶Despite the above provisions, if there are relevant provisions under the Social Security
Agreement between Korea and any foreign countries, those provisions will be applied.
Payment Contributions
▶For workers in the workplace, the employees and their employers should make
contributions for the employees amounting to 4.5% of the standard monthly income
respectively, based on the employees’ earned income.
▶The Individually Insured Persons should make contributions amounting to 9% of their
reported standard monthly income.
※ There is no discrimination in terms of the contribution rate between foreigners and
Koreans. The payment should be made no later than the 10th day of the following month.
Benefits
▶If foreign insured persons are entitled to an Old-age, Disability, or Survivor Pension, they
will receive pension benefits the same as Korean nationals.
▶Old-age Pension
- The Old-age Pension is paid monthly to those whose insured period is 10 years or more and
are over 60 years old. The pensionable age will increase by 1 year every five years, starting
from the year 2013, until it reaches 65 in 2033.
▶Disability Pension
- The Disability Pension is paid to those with a disability after the treatment of diseases or
injuries incurred during the insured period, according to the degree of their disability.
Annuities will be paid to those with 1st, 2nd and 3rd degree disabilities and lump-sum
benefits will be paid to those with 4th degree disabilities.
▶Survivor Pension
- If currently insured persons or pensioners are deceased, a Survivor Pension will be paid
every month to their surviving dependents whose livelihood was supported by the deceased
person.
▶Lump-sum Refund
- In principle, a lump-sum refund is not paid to foreigners, however, in the case of foreigners
falling under any of the following items, when they leave Korea, reach the age of 60, a lumpsum refund equivalent to the amount of contributions paid plus the fixed interest is paid to
them, or to their survivors if they should die.
① A foreigner whose home country has concluded a social security agreement with Korea to
secure benefit rights by combining the insured period in each country.
② A foreigner whose country grants Koreans a benefit corresponding to a lump-sum refund.
③ A foreign worker whose stay visa falls under E-8 (Employment for Training), E-9 (Nonprofessional Employment), or H-2 (Visiting Employment).
【 Countries that are exempted from and granted Lump-sum Refunds 】
Application for the Lump-sum Refund
▶ Required documents
- Applying in Korea (before departing Korea):
Application form, a copy of your ID card (passport & Alien Registration Card), a copy of
your bankbook, a copy of your plane ticket, etc.
- Applying overseas (after departing Korea):
Application form (notarized from a notary agency of the country in which you reside and
attested to by the Korean Consulate or Embassy) ② A copy of your passport ③ A copy of
your bankbook
※ When you apply for a lump-sum refund through an agent in Korea, the application must be
submitted only by mail in order to avoid extra administration fees and incorrect or false
applications.
▶Contact Place: Regional offices of the National Pension Service


or visit the site -->nps.or.kr...

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Re: tijikom computation

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