27December2023
2024 Minimum Wage Amount is Announced
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.
TERM |
GROSS |
NET |
2024 |
20,002.50 TRY |
17,002.12 TRY |
b. Monthly SSI Base and Ceiling Parameters
As per Article 82 of the 5510 numbered SSI Law, the SSI base and the SSI ceiling are determined by taking the minimum wage into account. The SSI ceiling is calculated as 7.5 times the minimum wage. The below table shows the legal parameters in regards to 2024.
SSI |
Monthly SSI Base |
Monthly SSI Ceiling |
2024 |
20,002.50 TRY |
150,018.90 TRY |
Should you have any queries or need further details, please contact your customer representative.
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Legal Parameter Changes - Archive
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