THE DECISION REGARDING THE INCREASE OF THE MINIMUM WAGE

We refer to our Newsletter dated 25 December 2024 regarding the minimum wage determination and its announcement by the Ministry of Labor and Social Security for the year 2025. We would like to inform you with this additional bulletin that the Minimum Wage Determination Commission’s Decision dated 24 December 2024 and numbered 2024/1 has been published in the Official Gazette dated 27 December 2024 and numbered 32765.

In light of this, as per the Minimum Wage Determination Commission’s Decision, the minimum wage in Türkiye has been increased by 30% and implemented as of 1 January 2025.Accordingly, the monthly-minimum wage of the employees will be gross TRY 26,005.50(approximately EUR 700*) and net TRY 22,104.67 (approximately EUR 600*) as of 1 January 2025.

Therefore, the new gross minimum monthly wage will reach TRY 26,005.50 (approximately EUR 700*) exclusive of certain social security premiums and unemployment contribution. The said amounts are respectively TRY 4,095.87 and TRY 520.11. Thereby, the total cost for the employer will be TRY 30,621.48 (approximately EUR 830*) for a minimum wage employee.

* As per the exchange rate valid on 7 January 2025; EUR 1 = TRY 36.76

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