Understanding the Process of Employment termination in Turkey

Termination of employment in Turkey varies depending on whether the employment is for a definite or indefinite period and whether it is based on just cause. Here’s a breakdown of the termination procedures: Definite Period Employment Indefinite Period Employment Severance Pay Termination in Larger Workplaces Termination Based on Just Cause Dispute Resolution Azkan Group can…

Key Aspects of Employment in Turkey

The regulated facets of employment in Turkey encompass employees, employers, compensation, employment agreements, and the workplace. Employee Responsibilities In the absence of contrary provisions in the contract or circumstances, employees are personally accountable for fulfilling their job duties, and no other individuals are authorized to perform their work on their behalf. Employees are required to…

Debt Restructuring via Consensus in Turkey

Debt restructuring through consensus in Turkey, governed by the EBC (Enforcement and Bankruptcy Code), is a method seldom employed. In this intricate process, financially beleaguered companies extend an invitation to their creditors, urging them to settle matters through a meticulously crafted ‘restructuring plan.’ The caveat: this plan must secure the consent of a simple majority…

Bankruptcy Laws in Turkey: A Closer Look at the Insolvency Process

Bankruptcy is a well-established recourse for addressing insolvency in Turkey, offering a structured approach to ensure the equitable satisfaction of creditors while protecting financially distressed debtors from potential exploitation. In Turkey, the concept of bankruptcy applies to both personal and commercial debts, primarily targeting individuals and entities legally categorized as “merchants” or “tacir” under the…

Concordat in Turkey: A Path to Avoid Bankruptcy

In Turkey, the concept of “Concordat” serves as a practical alternative to bankruptcy, offering a lifeline for individuals and businesses facing financial distress. A Concordat agreement, once approved by the competent commercial court, carries binding implications for all of the debtor’s creditors, regardless of their initial stance on the agreement. Eligibility for Concordat is open…

Difference between Payroll in Turkey and Payroll in India

Payroll in Turkey and Payroll in India are distinct due to the differences in labor laws, taxation, and employment practices in each country. Here are the key differences between Payroll Turkey and Payroll India: Legal and Regulatory Environment: Taxation: Social Security and Benefits: Reporting and Compliance: Labor Practices and Culture: In summary, Payroll Turkey and…

Difference between Payroll in Turkey and Payroll in China

Payroll Turkey and Payroll China refer to two different payroll systems or processes used in Turkey and China, respectively. These systems have distinct characteristics and requirements due to the differences in labor laws, taxation, and regulations in each country. Here are the key differences between Payroll Turkey and Payroll China: 1. Legal and Regulatory Environment:…