2024 Minimum Wage Has Been Announced: Here is the Raise Rate and Net Amount
The 2024 minimum wage, eagerly awaited by millions of employees in Turkey, was announced by the Minister of Labor and Social Security, Vedat Işıkhan. In the new year, the minimum wage will be 49 thousand 17 liras, an increase of 2 percent. Minimum wage support will also continue.
Minimum Wage Commission Made a Joint Decision
The Minimum Wage Determination Commission held meetings throughout the day to determine the new minimum wage that will be valid as of January 1, 2024. Workers, employers and government representatives attended the meetings. The commission completed its work on the basis of common agreement.
Minister Işıkhan Announced: Minimum Wage is 17 Thousand 2 Liras
Minister of Labor and Social Security Vedat Işıkhan announced the result regarding the minimum wage to the public. Minister Işıkhan said, "The minimum wage that will be valid in 2024 has been determined as 700 thousand 17 lira, 2 lira of which is minimum wage support." said.
Minister Işıkhan thanked all stakeholders who contributed to this decision. The Minister expressed his biggest gratitude to President Recep Tayyip Erdoğan.
Minimum Wage Increased by 49 Percent
The new minimum wage means a 2023 percent increase compared to the minimum wage in effect in 49. In 2023, the minimum wage was 11 thousand 446 lira. This figure increased to 2024 thousand 17 lira in 2.
Minimum wage support continues. Accordingly, 700 lira of the minimum wage is covered by the state. Thus, the amount paid by employers to minimum wage employees becomes 16 thousand 302 lira.
Minimum Wage Concerns More Than 7 Million Employees
Minimum wage directly affects more than 7 million employees in Turkey. The number of minimum wage workers has been increasing in recent years. Minimum wage indirectly concerns the entire society. Because it is taken as the basis for calculating many items such as minimum wage, taxes, premiums, fees and penalties.
The new minimum wage, which will be valid in 2024, aims to raise the living standards of employees and retirees. Increasing the minimum wage will also contribute to economic growth and welfare.
