Summary of Youth Tomorrow Filling Deduction Qualifications and Application Methods
In order to solve the youth unemployment problem, the government is introducing many policies. The recently reorganized Youth Tomorrow Filling Deduction is one of them. Youth tomorrow fill deduction, one of the support systems for long-term employment, which allows young people to make a lump sum of up to 12 million won after accumulating a total of 4 million won for 2 years with help from companies and the government for long-term employment and raising money. Find out more about eligibility and how to apply.
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Tomorrow’s Filling Deduction for Youth
What is Youth Tomorrow’s Filling Deduction?
The Youth Tomorrow Filling Deduction is aimed at long-term employment of young people and raising a large sum of money, and for small and medium-sized enterprises to secure outstanding talent and maintain employment, so that the amount accumulated for two years jointly by youth, companies, and the government can raise a maximum of 12 million won It is a system that pays maturity.
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What is Youth Tomorrow’s Filling Deduction?
Qualifications for the Tomorrow Filling Deduction for Youth
▶Find out who is supported
Youth – Tomorrow Filling Deduction – Qualification
Qualifications for the Tomorrow Filling Deduction for Youth
There are no special restrictions in terms of education, but those who are attending high school or university as of the date of employment as a full-time employee, or are on leave of absence are excluded from the application. However, prospective graduates can apply. Compared to last year, the reorganized qualifications have become more demanding. Supportable industries have been created and the criteria for support companies have also been limited.
▶Enrollment Period and Income Requirements
Membership must be applied within 6 months from the date of hiring a full-time position. Also, only full-time workers earning less than KRW 3 million per month working for small and medium-sized businesses can apply. Since this is a system for small and medium-sized businesses, it is not possible for large companies or mid-sized companies with high salaries to join.
▶Targets excluded from joining the Tomorrow Filling Deduction for Youth
● A person who has a history of subscribing to the Tomorrow Filling Deduction for Youth (if canceled within 1 month, re-enrolment is possible)
● Those whose monthly salary exceeds KRW 3 million (including wages and allowances at the time of application approval)
● If you are the spouse or child of the business owner
● If you have registered as a business (However, it is possible if you have reported business closure or closed your business without running a business. Reasons for early termination if you set up a business during the subscription period for Tomorrow’s Filling Deduction)
● A person whose contracted working hours are less than 30 hours per week as of the date of employment as a full-time employee
● Re-employment and re-employment in the same company within 6 months
● Those who have been hired as employees who have worked or are expected to work at overseas corporations (branches) of domestic companies.
● In the case of applicants for the 2023 direct job creation project
● If you are a duplicate participant in other similar asset formation projects such as youth deduction
▶ Find out about the payment of Tomorrow’s Filling Deduction for Youth
Classification Total amount Payment period
4 million won for youth payment for 2 years and 24 months
(20 months x 160,000 won, 4 months x 200,000 won)
Corporate payment of 4 million won
Savings of 4 million won in government southern funds by period
Youth/company/government pay 4 million won each into an account, so the youth can receive 12 million won + interest at maturity after 2 years. Since it is a system created for the purpose of long-term service for 2 years, it is possible to extend subscription to 3 to 5 years through the Tomorrow Filling Deduction of the Ministry of SMEs and Startups after the expiration of 2 years.
How to apply for the Tomorrow Filling Deduction for Youth
If both young people and companies meet the conditions and are willing to join, they can apply for the Tomorrow Filling Deduction for Youth. Both young people and businesses must apply to apply. The application method and process are as follows.
① A company applies for participation in Worknet Youth Tomorrow Filling Deduction.
② Qualification screening is conducted at the Job Center.
③ Notify the company and youth of approval or not.
④ The application for subscription is in progress, but the application must be made within 6 months from the date of hiring the full-time employee.
⑤ The application for subscription is not approved by the Small and Medium Venture Business Corporation.
⑥ Youth Tomorrow Filling Deduction installment accumulation begins.
⑦ Companies apply for government subsidy and request accumulation to the job center.
⑧ The Small and Medium Venture Business Promotion Corporation pays 12 million won + a due to the youth.
Registration is carried out after the company first applies, and it is impossible for young people to apply first. After the company applies, you can find the company through the worknet site and apply for it. Worknet application and subscription application must be completed within 6 months of hiring a full-time employee to apply for tomorrow’s fill deduction.
🔍Go to WorkNet👆
▶Required documents when applying for the Tomorrow Filling Deduction for Youth (documents required by the job center)
Youth – Tomorrow Filling Deduction – Application Documents
Youth Tomorrow Filling Deduction Application Form
Find out about the qualifications for the Youth Tomorrow Filling Deduction and how to apply. As a result of the reorganization, the conditions became more difficult and there were many restrictions, but from the perspective of young people, the merit of being able to make a lump sum of 12 million won two years later with 4 million won is great, so I think it is good to sign up if a company wants to sign up. it takes Of course, it is expected that there will be not many small and medium-sized businesses that will support because there is a part where companies have to pay 100% of 4 million won for 2 years.