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27Aralık2023

2024 Minimum Wage Amount is Announced

2024 Minimum Wage Amount is Announced

a. Minimum Wage

In the press release dated December 27, 2023, the Ministry of Labor, along with the Minimum Wage Determination Committee has announced the minimum wage to be effective for the year of 2024, as shown in the table below.

TERM

GROSS

NET

2024

20,002.50 TRY

17,002.12 TRY

b. Monthly SSI Base and Ceiling Parameters

As per Article 82 of the 5510 numbered SSI Law, the SSI base and the SSI ceiling are determined by taking the minimum wage into account. The SSI ceiling is calculated as 7.5 times the minimum wage. The below table shows the legal parameters in regards to 2024.

SSI

Monthly SSI Base

Monthly SSI Ceiling

2024

20,002.50 TRY

150,018.90 TRY

Should you have any queries or need further details, please contact your customer representative.

Yazar CottGroup Hukuk ve Mevzuat Ekibi, Kategori Social Security Law and Legislation, Taxation Law

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    Contents provided in this article serve to informative purpose only. The article is confidential and property of CottGroup® and all of its affiliated legal entities. Quoting any of the contents without credit being given to the source is strictly prohibited. Regardless of having all the precautions and importance put in the preparation of this article, CottGroup® and its member companies cannot be held liable of the application or interpretation of the information provided. It is strictly advised to consult a professional for the application of the above-mentioned subject.

    For each concrete situation, it is strongly advised to seek guidance from a professional advisor. If you are a customer of ours, please consult with your customer representative before taking any action related to the announcement. If you are not a customer, seek advice from an expert.

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