Are the 4 Major Insurance Enrollment Criteria Different for Sole Proprietors and Corporations??

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💼 Learn the Differences in 4 Major Insurance Enrollment Criteria for Sole Proprietors vs Corporations!
The criteria for enrolling in the 4 major insurances differ for sole proprietors and corporations! For example, if you run a chicken restaurant, the way your revenue and income are handled changes, and so does your insurance enrollment. 🐔 Sole proprietors treat business income as personal income, while corporate owners receive a salary and are required to enroll in the 4 major insurances.
📋 Sole Proprietors
The owner is not required to enroll in employment or workers' compensation insurance.
If you hire employees, you must enroll them in employment and workers' compensation insurance!
🏢 Corporations
The owner must receive a salary and is required to enroll in the 4 major insurances.
If you hire employees, you must enroll in all 4 major insurances for them.
💡 Detailed 4 Major Insurance Enrollment Criteria
Health Insurance and National Pension: Required for all citizens. If you're not employed by a company, you will be classified as a regional enrollee.
Employment and Workers' Compensation Insurance: Even working for just 30 minutes a day triggers the requirement to enroll!
During the probationary period, reporting employee income is mandatory!
💼 Key Point
If you hire employees, you must enroll them in employment and workers' compensation insurance. Failing to follow legal standards may result in fines! 📑
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Starring: Public Labor Attorney Minji Sa, Actor Donghwan Jo