[Job Seeker] Guide to the 4 Major Insurances under the Employment Permit System

🤝What are the four major insurances of the employment permit system?

This refers to the four types of insurance (departure expiration insurance, return expense insurance, guarantee insurance, and accident insurance) that foreign workers and employers must subscribe to in accordance with the ‘Act on Employment of Foreign Workers, etc.’

✅ Types and contents of the four major insurances under the employment permit system

	Departure Expiration Insurance	Return expenses	surety insurance	Accident insurance
Purpose of introduction	Prevention of illegal stay and Relief of burden due to lump sum payment of user's retirement allowance	Covers expenses required for returning home	Foreign workers Prepare for wage arrears	Other than industrial accidents Prepare for death/illness
reason	Article 13 of the Foreign Affairs Act. Article 21 of the Enforcement Decree of the Act	Article 15 of the Foreign Affairs Act. Article 22 of the Enforcement Decree of the Act	Article 23 of the Foreign Affairs Act. Article 27 of the Enforcement Decree of the Act	Article 23 of the Foreign Affairs Act. Article 28 of the Enforcement Decree of the Act
Eligibility	user	Foreign workers	user	Foreign workers
apply Business place	More than 1 year of job activity There is time left Foreign workers Hired users	-	· Wage Claim Security Act Businesses that do not apply · Less than 300 people at all times Workplace where workers are employed	-
insured person or beneficiary	Foreign workers	Foreign workers	Foreign workers	Foreign workers
When to join and Penalty provisions	A fine of up to 5 million won within 15 days from the effective date of the employment contract	A fine of up to 5 million won within 3 months from the effective date of the employment contract	From the effective date of the employment contract Fine of up to 5 million won within 15 days	From the effective date of the employment contract Fine of up to 5 million won within 15 days
Insurance money Payment method	Monthly wage 8.3% monthly accrual	A lump sum or Payment in installments within 3 times 400,000 to 600,000 won per country	lump sum Per worker: 15,000 won per year	lump sum 3 years/about 20,000 won (Differentiated by gender and age)
Insurance money Reason for payment	Worked for more than 1 year Departure of foreign workers (excluding temporary departure) Change of residence status	Departure of foreign workers (Excluding temporary departure)	User's unpaid wages Payment principle upon occurrence	Foreign workers Other than work-related accidents Death or permanent disability
Payment amount	Working for more than 1 year From the date of first payment Payment of 100.5-102.3% of principal after 12 months	From the date of first payment Payment of 101-107.4% of principal after 12 months	Minister of Employment and Labor Notification amount limit 4 million won (per worker)	· Death due to injury, permanent disability: Up to 30 million won · Death from disease, severe disability: 15 million won

◾ How to check whether you have signed up for departure expiration insurance or return cost insurance and how to check the insurance amount

Contact: 1600-0266 (Samseom Fire & Marine Insurance)

◾ How to check whether you have subscribed to the wage arrears guarantee insurance and how to check the insurance benefits

Contact: 02-777-6689 (Seoul Guarantee Insurance)

http://eps.sgic.co.kr You can search by entering the foreign worker employment permit number

◾ Effective date of employment contract

E-9: (New) Date of entry, (Re-entry Special Case) Day after India

H-2: Start date of employment contract

[Job Seeker] Guide to the 4 Major Insurances under the Employment Permit System

🤝What are the four major insurances of the employment permit system?

✅ Types and contents of the four major insurances under the employment permit system

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