Deduction from Salary for English Teachers in South Korea
Deductions from salary include the amount that is deducted from your monthly salary which you receive from the in lieu of your service as an ESL teacher in Korea.
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Income tax: 4-7% of your monthly salary is deducted for tax clearance
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National Pension Scheme: the total rate is 9%. 4.5% is deducted from the teacher’s salary and the other 4.5% is paid by the employer to National Pension Corporation.
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National Health Insurance: current rate is 4.48% out of which 2.24% is deducted from the teacher’s salary and the other half is paid by the employer to National Health Insurance Corporation.
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Housing deposit: this varies from 400,000 won to 900,000 won with the variation of school’s policy. This amount is deducted from the salaries of first three months although this is a negotiable issue. This deposit is mainly deducted to cover the cost of monthly services like telephone calls, utility etc.
