Key Minimum Wage Meeting Commences Monday with Revealed Figures – Latest News
The Minimum Wage Determination Commission recently held its first meeting at the Ministry of Labor and Social Security to determine the new minimum wage for Turkey, which will be effective from July. The meeting was attended by representatives from the government, workers’ unions, and employers’ unions. The commission discussed various factors, including the economic and social situation of the country, subsistence indices, and general wage conditions, in order to reach a decision on the minimum wage.
The commission consists of five representatives each from the worker, employer, and government sides. The workers are represented by the TÜRK-İŞ union, while the employers are represented by the Turkish Confederation of Employers’ Unions. After the meeting, the commission’s decision will be submitted to the President for final approval. The President’s final touch aims to benefit the employees. Once the minimum wage is determined, it will be announced to the public.
During the first meeting, Veli Solak, the representative of the Türk-İş delegation, stated that Türk-İş Chairman Ergün Atalay could not attend the meeting due to his attendance at the funeral of workers who were tragically killed in an explosion at the MKE Rocket and Explosive Factory. Solak emphasized the importance of completing the process before the holiday and updating the minimum wage based on current economic conditions, including house rents and the cost of living. Official documents have been requested, and an official announcement will be made in the coming days or hours.
The date for the second meeting of the Minimum Wage Determination Commission has been set for Monday, June 19th. The Minister of Labor and Social Security will meet with the representatives of Türk-İş and TİSK to discuss the minimum wage.
Regarding expectations for the interim increase in the minimum wage, there have been various projections. Muhammet Bayram, a Sworn-in Certified Public Accountant and Economist, suggested that the minimum wage could range between 11,500 and 12,300 Turkish liras based on different percentages of increase.
It is important to note the cost of the minimum wage to employers. For a worker, the minimum wage is currently 10,008 Turkish liras per month, which amounts to a net income of 8,506.80 Turkish liras after taxes and deductions. The total cost to the employer for the minimum wage is 11,759.40 Turkish liras, which includes social security premiums and employer unemployment insurance fund contributions.
In conclusion, the Minimum Wage Determination Commission is actively working to determine the new minimum wage for Turkey. The decision will be submitted to the President for final approval, and the updated minimum wage will be announced to the public.
