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.