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Salary and currency exchange
浏览次数:1521    发布日期:2011-2-28 15:25:57

1.Monthly Salary

Your paycheck will be directly deposited to your CB (China Bank) account on the tenth of each month.  Your paycheck will include both your salary and housing allowance after taxes have been taken out.

If your teaching hours for the whole employment period are more than your contracted total teaching hours, the extra hourly payment will be calculated at the end of contract period.


2. Tax of your income

If you make additional income other than your monthly salary from ZJETP, you need to pay taxes. According to the taxing law of China, below is the current taxing ratio of monthly income for any amount earned over 4,800 RMB.

(Monthly Income - 4800)                   tax ratio                  minus

____<500                                                    5%                        0

500<____<2000                                       10%                      25

2000<___<5000                                       15%                    125

5000<___<20000                                     20%                   375

For example, if your monthly salary is:

4,800 +1000 ( for housing allowance ) = 5,800;

Then your tax will be:

5,800 - 4,800 = 1,000

1,000 x 10%=100

100 – 25 = 75

If you receive income from anther place, it will be also calculated into your total income of this month, and you need to pay tax for your total income received for the entire month.

You can check your bank account each month. In case there is a mistake, please contact the International office.

Foreign teachers with Foreign Expert’s Certificate can change part of their salary (RMB) to foreign currency according to the percentage designated in the working contract. This currency exchange is commonly done before your departure. You may go to any branch of the Bank of China and fill out a form requesting foreign currency.