Increase in the severance pay floor

Minister of Labor and Social Security Vedat Işıkhan announced that the minimum wage to be effective in the new year will be 28,075 TL net, following a meeting held with employers.

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Withthe minimum wage that determines the minimum pay to be given to employees, the lower limit forseverance paythat will be effectivenext year has also been finalized.

Thus,an employee earning the minimum wageFor employees, the severance pay floor for the coming year will not be lower than 33,030 TL. Similarly,forthoseworkingat the same workplace for more than a year,employeeswho havejustifiedin the event that theyterminate their employmentcontracts or are laidoff, for eachyear they have worked,they are entitled to a net payment of 33,030 TL.will have obtained.

THE CEILING AMOUNT WILL BE FINALIZEDWITH CIVIL SERVANT SALARIES

While the minimum wage determines the floor for severance pay, the ceiling amount will be finalized with the inflation data to beannounced on January 3rd. The ceiling amount, which is determined accordingto civil servant salaries, is currentlyapplied as 53,919 TL.

News Source: 12punto

Increase in the severance pay floor

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