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 |