Private Sector SSI Premiums to be Postponed

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postpone articleJanuary, February and March 2017 premium payments of private sector employees who benefit from Treasury’s minimum wage support will be postponed to last three month of the 2017, respectively to October, November and December, according to omniums bill which is accepted in the Parliament’s related commission and expected to be in force before the end of the year.

The bill intended to prevent unemployment by way of enabling employees and especially the small and medium sized enterprises that are mainly employing minimum wage earners in their establishments to defer their premium payments for nine months without charging any interest.

Premium payments to be postponed will be corresponding to premium covered days that taken as base in benefiting from the minimum wage support. For private sector employers who are eligible to benefit from Treasury’s minimum wage support in December 2016, January and February 2017 these premium covered days will be multiplied by daily 60,00 TRY to find the earning subject to premium in the said moths that will be taken as base in calculation of the SSI premium amounts to be postponed to October, November and December 2017.

For avoiding confusion, it should be bear in mind that related month’s premium contributions are paid at the end of the next month, so the premiums payments of January, February and March 2017 are actually belonged to December 2016, January and February 2017

Supports and incentives on minimum wage are exceptional arrangements and usually cause confusions in application; we will inform you as soon as the circulars related to implementation are issued by SSI.

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