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Turkey

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Country Details

Currency

Turkish Lira (TRY)

Official language

Turkish

Capital

Ankara

Is English spoken?

Yes

Time Zone

GMT +3:00

Salary payment frequency

Monthly

General Overview & Economic Facts

Information

Turkey's economy is diverse, with key sectors including automotive, textiles, agriculture, and tourism. The country has a well-developed infrastructure, and recent reforms aim to enhance its position as a key player in regional trade.

Population size

84,000,000

GDP

$1.2T

Inflation level

22.30%

Average earning + minimum wage

Average monthly salary: TRY 11,000 (~USD 410); Minimum wage: TRY 5,004 per month

Overview of the labour law

Turkey's labor laws are governed by the Labor Law No. 4857, which regulates work contracts, working hours, and termination procedures. The labor law also covers issues related to employee rights, workplace safety, and compensation.

Employment Details

Number of Public Holidays

14 public holidays annually

Working Hours

Standard working hours are 8 hours per day and 45 hours per week; some sectors may have reduced hours.

Benefits
  • Health Insurance
  • Vision Insurance
  • Dental Insurance
  • Pension or 401(K)
  • Mental Health Support
  • Life and Disability Insurance
Overtime

Overtime is compensated at 1.5 times the regular hourly rate for work on regular days, and up to 2 times for work on holidays. Overtime is limited to 270 hours per year.

Notice Period

Notice periods vary from 2 to 8 weeks depending on the length of service and the employee’s position.

Probation Period

Probation period is typically 2 months, though it can vary by company.

Severance Pay

Severance pay is calculated based on years of service: for each year worked, 30 days’ pay is provided.

Employee Income tax

Income tax rates are progressive, ranging from 15% to 40% based on income brackets.

Employer Social cost

Employers contribute 20% of the employee's salary to social security.

Employee Social cost

Employees contribute 14% of their salary to social security.

Benefit packages

Health Insurance
Vision Insurance
Dental Insurance
Pension or 401(K)
Mental Health Support
Life and Disability Insurance

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