VMware provides a Flexible Benefits for all employees.
Flexible Benefit Amount
On January 1st of each year, you will receive 500,000 KRW for Flexible Benefits. New hires will receive a pro-rated amount based on the quarter in which hired:
- Hire date in Q1 (Jan, Feb, Mar) will receive 500,000 KRW
- Hire date in Q2 (Apr, May, Jun) will receive 375,000 KRW
- Hire date in Q3 (Jul, Aug, Sep) will receive 250,000 KRW
- Hire date in Q4 (Oct, Nov, Dec) will receive 125,000 KRW
Flexible Benefit Options
VMware provides KRW 500,000 per year for reimbursement of personal development and recreation including:
- Education and Books for yourself and/or eligible dependents
- Fitness classes for yourself
- Tickets for Events (Movies, Concerts, Sports, Theater) for yourself and/or eligible dependents
Eligible dependents include spouse, children, parents and parents-in-law. Expenses reimbursed through the Flexible Benefit Plan are taxable as income.
Flexible Benefit Balance
You can check your Flexible Benefit Account balance in MyLife [VMware network access required]. If you have not used your full Flexible Benefit amount as of December 31st, your remaining balance will rollover to the next calendar year.
Using your Flexible Benefits
You can get reimbursed for eligible expenses through the Flexible Benefit Plan by logging into MyLife [VMware network access required] and submitting a claim. After submitting your claim it will be reviewed. If everything is in order the claim will be approved and you will be reimbursed in your next VMware paycheck. If there is a problem with the claim it may be rejected and you will need to submit the expense again.
Flexible Benefit accrues during a calendar year and any unused portion can be carried forward for a period of 1 calendar year. Unused flexible benefit after this time will be automatically forfeited.
If you leave VMware, your annual balance will be pro-rated based on the number of quarters worked:
- Termination date in Q1 (Jan, Feb, Mar) will receive 125,000 KR
- Termination date in Q2 (Apr, May, Jun) will receive 250,000 KRW
- Termination date in Q3 (Jul, Aug, Sep) will receive 375,000 KRW
- Termination date in Q4 (Oct, Nov, Dec) will receive 500,000 KRW
If you have already used more than the pro-rated amount at the time of your termination, repayment may be deducted from your final paycheck.
Last Updated: 14 Sep 2021, 4:23 AM