Turkey Payroll Outsourcing Alert
Turkey – Social Security Seniority (Severance) Ceiling Amount Increased
Effective from 1 July 2020, the government of Turkey has increased the Seniority (Severance) Ceiling Gross Amount to 7,117.17 TRY. The new amount will be in effect through July 2020 and will be updated in January 2021 for the following 6 months.
|UYGULAMA ADI||NAME OF THE APPLICATION||PERIOD JAN 2020 - JUNE 2020||PERIOD JULY 2020 - DEC 2020|
|Kadeem Tazminat Tavani||Seniority (Severance) Ceiling Amount||6,730.15 TRY||7,117.17 TRY|
The above ceiling is applied to the average monthly compensation for the calculation of severance pay at the time of employment termination.
Mercans’ Turkey Payroll Outsourcing Solutions
While Mercans’ Turkey Payroll Outsourcing alerts will allow you to stay on top the latest development in Turkey ‘s payroll regulations, you should still get in touch with Mercans’ Turkey payroll outsourcing, compliance, PEO/GEO and BPO specialists for a free consultation on setting up fully compliant payroll and HR functions. Better yet, outsource your payroll and HR activities in Turkey to Mercans and our Turkey payroll outsourcing experts will ensure that your employees will always be paid on time and in accordance with the Turkey regulations.
Also read: Payroll in Turkey
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