SERVICE REWARDS THAT WILL BE CONSIDERED AS SSI PREMIUMS
The Social Security Institution’s 2016/12 numbered notice has been published and entered into the force as of 22.06.2016.
By examining Article 80 of the Social Security and General Health Insurance Law numbered 5510 titled “Earnings Subject Premiums”, the notice has brought clarity to the topic of which benefits cannot be treated as benefits in kind.
As a result of the evaluations and examinations of the article, gold that is given by an employer to an employee for reasons including but not limited to celebrating religious holidays, New Year’s Day, or in the event of the employee’s seniority, cannot be considered as an in kind benefit and will be subject to social security premiums as indicated in the notice.
The full text of the relevant notice can be viewed here.