How to apply for Youth Tomorrow Filling Deduction [Making money]
How to apply for the 2023 Youth Tomorrow Filling Deduction [Making money]
Find out how to apply for Youth Tomorrow Filling Deduction
[index]
1. What is Youth Tomorrow Filling Deduction?
2. Changes to Youth Tomorrow Filling Deduction
3. Benefits of Youth Tomorrow Filling Deduction
4. Subjects for Youth Tomorrow Filling Deduction
5. Deadline for applying for Youth Tomorrow Filling Deduction and how to apply
6. Suspension and early termination of Youth Tomorrow Filling Deduction
7. Youth Tomorrow Filling Deduction Maturity Payment
1. What is Youth Tomorrow Filling Deduction?
Youth Tomorrow Filling Deduction is a system in which young people, companies, and the government jointly accumulate funds for two years to support young people’s asset formation so that they can work long-term at small and medium-sized businesses.
It was implemented in July 2016 to promote the influx of unemployed young people (aged 15 to 34) into SMEs and support long-term employment and asset formation of young workers. If a young man employed in .
It can be said that it is a system that helps young people prepare a foundation for future design through early career formation, and supports companies to stably hire talented people.
2. Changes to Youth Tomorrow Filling Deduction
As of 2023, it has been confirmed through the customer center that the youth tomorrow fill deduction support has been changed. (Customer Center: 1350)
As for the changes, subscribers in 2022 received 3 million won each for 125,000 won for 24 months + 3 million won for companies + 6 million won for the government.
However, the benefits received by subscribers do not change, and a total of KRW 12 million + interest can be paid at maturity.
(You can check the changed information on the official website of Youth Tomorrow Filling Deduction, but I received a reply that the Worknet site is still in the process of being updated.)
Go to the official website of Youth Tomorrow Filling Deduction >> https://www.sbcplan.or.kr/main.do
Go to the Worknet Youth Tomorrow Filling Deduction Site >> https://www.work.go.kr/youngtomorrow/index.do
3. Benefits of Youth Tomorrow Filling Deduction
If you sign up for the ‘Youth Learning Tomorrow’, you only have to pay for a total of 24 months. For months 1 to 20, you pay 160,000 won each, and for months 20-24, you pay 200,000 won each. At this time, additional corporate subsidies and government subsidies are paid. .
To sum up, the subscriber can receive the final amount of 12 million won by paying 4 million won for 24 months (2 years) + 4 million won in corporate contribution + 4 million won in government subsidy, and can enjoy benefits of up to 8 million won, plus small interest income. You can get up to more.
4. Subjects for Youth Tomorrow Filling Deduction
[Youth subscribers]
Young people between the ages of 15 and 34 who are employed full-time at small and medium-sized businesses in the manufacturing and construction industries with 5 or more and less than 50 employees.
For those with military experience, the participation restriction age is linked in proportion to the service period, but the maximum is limited to 39 years old.
Young people whose monthly salary is less than 3 million won
You must complete the application on the youth deduction application website (www.sbcplan.or.kr) within 6 months of hiring a full-time employee.
[Enterprise]
Small and medium-sized businesses in the construction and manufacturing industries that employ 5 or more but less than 50 people insured by the average employment insurance for the previous 3 months, as of the date of full-time employment of young people subject to the deduction
It is judged by business owner, but when calculating the number of insured persons, business owners, daily workers, and special employment types are excluded.
The type of business must be confirmed as the type of business that corresponds to the employer (headquarters) in the employment insurance system. However, if the type of business is different for each business place, it is based on the type of business the youth belongs to.
5. Deadline for applying for Youth Tomorrow Filling Deduction and how to apply
[Application Deadline]
The method of applying for Youth Tomorrow Filling Deduction is also important, but the deadline must be completed on the deduction website within 6 months from the date of hiring a full-time employee.
Normally, it takes 10 business days for qualification review, so you can think of it as taking about 2-3 weeks.
[How to apply]
If you go to the Naeil Filling Deduction website, you can see where you can apply for workers who have worked for less than 6 months.
Application for Participation After applying online at https://www.work.go.kr/youngtomorrow/
Registration Application You must apply for membership online at https://www.sbcplan.or.kr/.
[Inquiries• Youth Tomorrow Filling Deduction (1350)]
6. Suspension and early termination of Youth Tomorrow Filling Deduction
[Suspension of payment]
Regardless of the cause attributable to the youth or the company, if a youth who has joined the deduction does not provide work for more than 15 consecutive days within the accumulation unit period and does not generate wages (money and valuables received from the employer in exchange for work), the deduction payment is suspended.
Applicable period: ① Fulfillment of military service obligations (including service as industrial technical personnel and expert research personnel), ② Childcare leave in accordance with Article 19 of the Equal Employment Opportunity Act, ③ Other period of not providing work such as suspension (including the period of remedy for unfair dismissal)
Up to 12 months: ① Unpaid (without) leave of absence stipulated in workplace rules, collective agreements, etc. ② Unpaid (without) paid leave due to company circumstances, ③ Personal illness, ④ ‘Natural disaster’ from local governments during business closure Or if it is recognized as an ‘accident’
Up to 24 months: occupational accidents
If the above reasons do not end, the suspension period can be extended, and the deduction subscription period is extended by the same amount of suspension period.
[midterm cancellation]
Reasons for youth: Paid by subject to accumulate contributions (company → business, youth → youth), government subsidy is paid 0-50% of the reserve amount according to the subscription period
Company history: Youth contributions and corporate contributions (corporate contributions before 2023) are paid to young people, and government subsidies are paid to young people by 50-100% of the reserve amount depending on the subscription period.
7. Youth Tomorrow Filling Deduction Maturity Payment and Connection Subscription
1) Payment of maturity
– Recipient of payment: Key personnel who have served for a long time after the date of conclusion of the contract for more than the mutual aid subscription period (24 months)
– Payment requirements
Subscribers of ‘~2021 Youth Tomorrow’: If “Youth (Core Manpower) Self-Pay, Employment Support, and Corporate Contribution” are all accumulated after working for the deduction subscription period (24 months) from the date of contract establishment
2021 youth tomorrow (supplementary budget), 2022-2023 type subscriber: From the date of contract establishment, deduction subscription period (24 months) After service “youth (key personnel) self-pay, company contribution, government subsidy
– interest to maturity
Payment is made by calculating annual compound interest at the interest rate applied to the period from the date of establishment of the deduction contract to the maturity date
Payment interest rate: annual compound interest, variable interest rate (changes every quarter, announced on the Tomorrow Filling Deduction website)
2) Link subscription
After the maturity of Youth Tomorrow’s Filling Deduction, re-enrolment or extension is possible with 「Naeil Filling Deduction」
Core personnel do not receive the deduction money after the maturity of the Youth Tomorrow Filling Deduction and extend the subscription period to accumulate additional mutual aid installments according to the 「Tomorrow Filling Deduction」 signup procedure
Linked subscription products (3-year/4-year/5-year) can be selected
It is not possible to re-register for the Youth Tomorrow Filling Deduction after the maturity of the Youth Tomorrow Filling Deduction.
If you are new to society, it is highly recommended to join the Tomorrow Filling Deduction for Youth, and if conditions permit later, you will be able to raise a larger sum of money through extended subscription to the Tomorrow Filling Deduction.
Based on the information we have informed you, it would be nice to check it out and proceed. For more details, you can check more accurate information by checking through the Youth Tomorrow Filling Deduction Customer Center 1350.