Analyses & décryptages

Interim period increase to minimum wage

The Minimum Wage Determination Commission (« Commission« ) has decided to change the determined minimum wage for 2022 before the set timeframe, to compensate for employee income losses.

In accordance with the Commission’s decision no. 2022/1 dated 1 July 2022 and published in Official Gazette no. 31883 (repeated) dated 1 July 2022, the minimum wage has been increased.

You will find below the minimum wage and insurance premium updates by the Commission, applicable from 1 July to 31 December 2022.

GROSS AMOUNT OF DAILY AND MONTHLY MINIMUM WAGE

Daily gross minimum wage

Monthly gross minimum wage

TRY 215.70

TRY 6,471

 

LEGAL DEDUCTIONS ON MINIMUM WAGE

Gross Wage

TRY 6,471

Employee Share of Insurance Premium (%14)

TRY 905.94

Employee Contribution to Unemployment Insurance (%1)

TRY 64.71

Income Tax and Stamp Duty

TRY 0

Net Minimum Wage

TRY 5,500.35

 

MINIMUM WAGE TOTAL COST FOR EMPLOYER

Minimum Wage

TRY 6,741

Employer Share of Insurance Premium (20.5%)

TRY 1,326.56

Employer SSI Incentive (5%)

TRY (-323.55)

Employer Unemployment Insurance Fund (2%)

TRY 129.42

Total Cost for Employer

TRY 7,603.43

 

MAXIMUM AND MINIMUM INSURANCE PREMIUM FEES

Maximum Fee

Minimum Fee

TRY 48,532.50

TRY 6,471

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