What are the 2024 Minimum Wage Support Procedures and Principles in Turkey ?

minimum wage turkey 2024

The 2024 Minimum Wage Support Procedures and Principles in Turkey outline the government’s measures to assist employers in managing the increased labor costs due to the minimum wage hikes.

This support aims to alleviate the financial burden on businesses while ensuring workers receive fair compensation. Here are the key aspects of these procedures and principles:

1.Eligibility Criteria:

  • Employers in both private and public sectors are eligible for minimum wage support.
  • Specific industries or sectors may receive targeted support based on economic priorities.
  • Companies must be compliant with Turkish labor laws and regulations.

2. Support Amount:

  • The support amount is typically determined as a fixed subsidy per employee to help cover the gap between the old and new minimum wage rates.
  • The exact subsidy amount is specified in government regulations and may vary by sector or business size.

3. Application Process:

  • Employers must apply for minimum wage support through designated government portals or agencies.
  • Applications require detailed documentation, including payroll records, employee lists, and proof of compliance with labor laws.
  • Deadlines for applications are strictly enforced to ensure timely processing and disbursement of funds.

4. Disbursement of Funds:

  • Approved support funds are disbursed monthly or quarterly, directly to the employer’s bank account.
  • Funds are intended to offset increased payroll expenses and must be used accordingly.

5. Compliance and Monitoring:

  • The government conducts regular audits to ensure that the support funds are used appropriately.
  • Employers must maintain accurate payroll and financial records for inspection.
  • Misuse of funds or non-compliance with labor laws can result in penalties, repayment of funds, and disqualification from future support programs.

6. Renewal and Adjustments:

  • The minimum wage support program is subject to annual review and adjustment based on economic conditions and government policies.
  • Employers may need to reapply or update their application annually to continue receiving support.

7. Employee Benefits:

  • Employers receiving minimum wage support are required to ensure that employees receive all mandated benefits, including social security contributions and health insurance.
  • The support aims to promote fair labor practices and enhance worker welfare.

The 2024 Minimum Wage Support Procedures and Principles in Turkey are designed to create a balanced approach to wage increases, ensuring that both employers and employees benefit from economic growth and stability.