a. Minimum Wage

In the press release dated December 27, 2023, the Ministry of Labor, along with the Minimum Wage Determination Committee has announced the minimum wage to be effective for the year of 2024, as shown in the table below.

Article 17 of Law No. 5510 grants employers the opportunity to benefit from retroactive incentives or make changes to existing incentives. In this context, it has been determined that the differential premium amounts, resulting from the utilization of retroactive incentives or incentive modifications for the month of March 2018 or earlier, must be settled with legal interest in accordance with the third paragraph of the mentioned article.

SGK has provided specific details on this matter in its General Letter numbered 82296733, dated 13.10.2023:

According to the general letter dated September 22, 2023, numbered E-83604451-207.02-80971419, published by the Social Security Institution (In Turkish), there has been uncertainty regarding whether individuals who were registered to Social Security Institution before September 8, 1999 and meet the criteria of insurance period, the number of premium payment days, and age conditions can benefit from the 5-point social security premium incentive. It is also mentioned that the Ministry of Treasury and Finance, which funds this incentive, has been consulted to clarify this matter.

With the Communique dated September 1, 2023 and numbered 2023/25, the procedures regarding the minimum wage support for the period July 1, 2023 - December 31, 2023 have been published by the Social Security Institution (In Turkish).

As a summary, in case that all conditions are met, the minimum wage support will be automatically deducted from the social security premium payments on the upcoming periods by the Social Security Institution without any application.