ARTICLE · 11 JANUARY 2024

Maximum Amount For Statutory Seniority Compensation Has Been Updated

Esin Attorney Partnership

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The maximum amount of monthly gross salary to be taken as a basis for statutory seniority compensation has been updated in accordance with the Circular No. 1 ("Circular") dated 5 January 2024...

TurkeyEmployment and HR

Elif Nur Çakır Vurgun

Zeynep Adıyaman

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Recent development

The maximum amount of monthly gross salary to be taken as a basis for statutory seniority compensation has been updated in accordance with the Circular No. 1 ("Circular") dated 5 January 2024, issued by the General Directorate of Public Financial Management and Transformation under the Ministry of Treasury and Finance ("Ministry"). The Circular entered into force as of 1 January 2024 and will be valid until 30 June 2024.

What does the Circular say?

The maximum amount of the monthly gross salary to be taken as a basis while calculating the statutory seniority compensation has been determined as TRY 35,058.58 for the first half of 2024 (between 1 January 2024 and 30 June 2024) with the Circular published by the Ministry.

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