Cap of severance pay (the upper limit) has been announced as 6.017,60 TRY/Year for the first half of the year. This limit will be applied within the period between 1 January 2019 and 30 June 2019.
Qualified employees are paid a severance pay equal to the last 30 days’ gross wage for each full year of employment. In Turkey, there is a cap for severance pay: the monthly earnings exceeding the above said amount will not be taken into account in the calculation of total severance to be paid to entitled employee. However, this limit may be increased by provisions of employment contracts.
Cap of severance pay is determined as aqual to the amount received by highest public offices as severance.
As the salaries of state officials are arranged twice a year, according to collective agreement, severance cap amounts are determined for each half years.
In calculation of the last 30 days’ wage, the wage paid and some contractual and statutory benefits in kind provided by employer shall be taken into account. Also periodical (annually, quarterly etc.) payments such as premiums and bonuses will be added in monthly basis.
Please note that there is no cap amount for severance pay for press employees.
Cap of Severance to be implemented between 01.01.2019 – 30.06.2019 is as follows.
|CAP OF SEVERANCE PAY||1. Half of the Year||2. Half of the Year|
|01.01.2019 – 30.06.2019||01.07.2019 – 31.12.2019|
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