Recent Developments
Pursuant to Article 39 of the Labor Code and Article 11 of the Minimum Salary Regulation, the Minimum Salary Determination Commission ("Commission") has decided on the minimum salary applicable to 2024. Pursuant to the Commission's decision dated 27 December 2023, the new minimum salary and the new minimum salary support were determined. The decision was published in the Official Gazette dated 30 December 2023.
The new minimum salary and the new minimum salary support determined by the Commission's decision are effective as of 1 January 2024.
What does the Commission's decision say?
As of 1 January 2024, the net monthly minimum salary is TRY 17,002.50, whereas the gross amount is TRY 20,002.50. The total monthly gross cost for the employer has been updated to TRY 23,502.94. The minimum salary support, which will be valid for 2024, is also updated to TRY 700. These amounts will be valid until 31 December 2024 unless a new Commission decision is made.
Conclusion
In the context of the Commission's decision, we recommend that employers review their employees' salaries and make adjustments, as necessary, to comply with the aforementioned decision.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
