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Legal Deductions and Stamp Tax on Mutual Rescission Payments

Legal Deductions and Stamp Tax on Mutual Rescission Payments

Mutual rescission is a method of terminating an employment contract arranged between the employer and the employee by reaching a mutual agreement, with the parties’ declaration of will. The main purpose here is to partially or completely break the employment contract at quiet.  As mutual rescission is not regulated by …

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Severance Pay Fund and Complementary Pension System

Severance Payment Fund and Complementary Pension System

The Complementary Pension System (TES) has been a topic of interest for millions of employees and employers. Implemented within the severance pay fund, TES will introduce a series of innovations. What is TES? TES is an additional pension system that aims at preventing the fall in the living standards due …

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Cases Not Included in Seniority Period

In case of losing their jobs, employees are entitled to severance pay in return for their labor within the time spent in the institution. Severance pay is aimed at supporting employees’ livelihood during the period they seek for new jobs. Annual leave is another right given to the employee to …

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