What is the maximum severance pay for the minimum wage? Method of calculating severance pay…
In the event of termination of any employment contract for reasons that require severance pay, a severance payment of 30 days of gross salary is paid for each full year worked. With the increase in the minimum wage, the severance pay of the minimum wage worker has also increased.
HOW MUCH WAS THE MINIMUM WAGE AND SENIORITY COMPENSATION?
Along with the current minimum wage, the severance pay cap of the minimum wage will be 13,414 lira.
For example; An employee who has to leave his workplace for 10 years will receive 134,140 lira as severance pay.
HOW TO CALCULATE THE INDEMNIFICATION FOR SENIORITY?
The provisions relating to severance pay and layoffs are clearly regulated in Article 14 of Labor Law No. 1475 and Labor Law No. 4857. To be entitled to severance pay, which concerns employees in a workplace work as an insured, the basic condition is the dismissal of the employee by the employer. However, in some special cases, severance pay can be obtained. (Military service, health condition that prevents the work or marriage of female employees)
In the event of termination of any employment contract for reasons that require severance pay, a severance payment of 30 days of gross salary is paid for each full year worked. Increasing periods from one year are also included in the calculation per dosage. During the calculation of the severance pay, in addition to the salary paid to the worker, the gross amounts of all the money and the benefits that can be measured in money (road, food, Christmas bonus provided it is regular, etc.) consider. The amount of severance pay paid for each full year of employment is limited to the maximum severance pay limit in effect on the date of termination.
to the employee; An indemnity of 30 days (gross monthly salary) is paid for each year. The total amount of compensation is calculated by multiplying the employee’s last gross monthly salary by the number of years he worked at that job site. Included in the rate; All payments, such as roadside assistance, meals, bonuses, and premiums, are also included in the compensation account.
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.
