What is the net gross minimum wage? What was the amount of the minimum wage in previous years?
Despite the minimum wage increase earlier in the year, the minimum wage evaporated before the sixth month due to inflation. As in the previous year, the new minimum wage was announced and increased intermittently.
HOW MUCH IS THE NET MINIMUM FEE?
After the meeting, the Minister of Labor and Social Security, Vedat Işıkhan, announced the increase in the minimum wage. Consequently, the minimum wage was TL 11,000,402. There was a 34 percent increase in the minimum wage.
HOW MUCH IS THE GROSS MINIMUM WAGE?
The amount of the gross minimum wage to be valid in the second half of 2023 has been determined at 13,214 lira, and the net minimum wage is 11,402 lira.
HOW MUCH DOES IT COST THE EMPLOYER?
The total cost of the new minimum wage for the employer amounted to 15 thousand 762 lira and 4 cents.
As of January 1, 2023, the minimum wage was set at 10,008 lira gross and 8,506 lira net 80 cents. The total cost of the minimum wage for the employer was 11 thousand 759 liras and 40 cents.
According to the information we got from Türk-İş, the SGK employer premium was 1551.24 TL in January 2023, from the total labor cost of 15 762 TL, it increased to 2 000 79 TL in July 2023.
THE NET HOURLY RATE INCREASED FROM 37.81 TL to 50.68 TL
The unemployment insurance employer premium increased from TL 200 to TL 268.
The payment of the social security employer premium increased from TL 1,751 to TL 2,347.
The net increase in the minimum wage was 34.04 percent.
While the gross daily wage increased from TL 333.60 to TL 447.15; Net daily wage increased from TL 283.56 to TL 380.08.
While the gross hourly wage of the minimum wage worker increased from 44.48 TL to 59.62 TL; Net hourly wage increased from TL 37.81 to TL 50.68.
The net minimum wage, which was $455 at the beginning of the year, has become $482 at today’s exchange rates.
MINIMUM WAGE RATE PER YEARS
Year Gross Minimum Wage Net Minimum Wage
- 2015 1,273.50 LI 949 LI
- 2016 TL 1,647.00 TL 1,300
- 2017 £1,777.50 £1,404
- 2018 TL 2,029.50 TL 1,603
- 2019 TL 2,558.40 TL 2,020
- 2020 2,943 TL 2,324 TL
- 2021 LI 3,577.50 LI 2,825.90
- 2022 6,471 lire 5,500 lire
- 2023 10,008 TL 8,506 (January – June)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
