Turkey Payroll Outsourcing Alert – Social Security Payroll Parameters for 2020
Turkey payroll outsourcing leader issues a statutory alert for Turkey.
Mercans has alerted its Turkey payroll outsourcing clients of Social Security Parameters related changes. Effective from 1st of January 2020, the government of Turkey has increased the Social Security Minimum Wage Amount to 2,934.00 TRY Gross and 2,324.71 TRY Net for single employees. The monthly SSI Ceiling Amount has increased to a gross amount of 22,072.50 TRY.
Please find the previous and new amounts under below table,
In accordance with the amended minimum amounts, the social security contributions for employees and employers will be calculated as summarized below:
Minimum Living Allowance Amounts (AGI) for 2020
The Turkish government has announced the following Minimum Living Allowances (AGI) for 2020. These amounts will be directly added to employees’ salaries based on their marital statuses.
The government of Turkey has announced the following benefit in kind exemption amounts for 2020.
These amounts will impact employees’ Gross Social Security amounts if the employer provides the respective benefits in kind.
In accordance with the amended amounts, the social security contributions for an employee and employer will be calculated as summarized below:
The amended rates will apply to all wages and salaries earned after January 1, 2020.
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Mercans operate globally, ensuring timely and measurable results, and bottom-line savings. Supported by 500+ payroll and HR specialists with in-depth local knowledge, our pioneering human resources consulting services and trailblazing SaaS payroll software, HR Blizz™ & Mesaar™, are already satisfying 5,000+ international clients, regardless of the size of their organization and their industry. Visit mercans.com
SIMPLIFYING EMPLOYMENT TASKS WORLDWIDE
Local Presence. Regional Strategy. Global Success.
We are a borderless people engagement enabler, committed to make your teams happy. Driven by technology and innovation, we pride ourselves in being global people experts with striking local presence. We deliver bespoke human capital management services and innovative global payroll solutions to empower international businesses.
We are your reliable HR function outsourcing partner, delivering innovative HCM solutions, along with cutting-edge human capital management advice, to ensure consistent business growth, regardless of the size and industry of your company. We develop SaaS software and outsource HCM solutions tailored to 5,000+ clients across all continents.
Mercans operate globally, ensuring timely measurable results and bottom-line savings. We employ 500+ payroll and human resources specialists with in-depth local knowledge. Thanks to success-oriented teams striving for excellence and taking care of your organization’s tasks within budget, we have gained the trust of major multinational companies.
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