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Work began to increase the minimum wage. The first meeting was held recently. Minister Selçuk announced the dates of the 2nd and the meeting to be held on the minimum wage. Estimates of a minimum wage increase are on the agenda. So what will the 2021 minimum wage be, what are the gross and net wage estimates?
HAS THE MINIMUM SALARY BEEN DETERMINED?
2021 The amount of the minimum wage has not yet been announced. Minister Koca stated that the date of the minimum wage will be December 15 and the third meeting will be December 22. The minimum wage is expected to be announced after the meetings.
2021 MINIMUM WAGE GROSS AND NET ESTIMATES …
The Central Bank revised its inflation forecast for 2020 to 12.1 percent. If an increase is made accordingly; gross 3 thousand 299 lire 10 kuruş, net 2 thousand 605 lire 98 kuruş. If the rate of increase is 15 percent like last year, the gross minimum wage will be calculated at 3 thousand 384 lira 45 kuruş and the net minimum wage at 2 thousand 673 lira 40 kuruş. If 3 welfare points are added to the bank’s inflation forecast for 2020; The gross minimum wage will be 3 thousand 387 TL 39 kuruş, the net minimum wage will be 2 thousand 675 TL 72 kuruş If 4 social participation points are applied; gross 3 thousand 416 lire 82 kuruş, net 2. 698 lire 97 kuruş will be calculated. If 5 points of social participation are added, the minimum wage will increase a little more. In this possibility, the gross minimum wage will be 3 thousand 446 lira 25 kuruş, and the net minimum wage will be 2 thousand 722 lira 22 kuruş.
WHAT WILL CHANGE WITH THE MINIMUM WAGE?
Milliyet author Cem Kılıç explained the details of BES. Here are Kılıç’s explanations before the minimum wage increase:
Under his old name, Bağ Kur, under his new name, 4 / b members pay their premiums to SGK every month. The amount of the premium to be paid by the Bağ Kur member is also determined by himself, regardless of his income. The lowest limit that Bağ Kur members can pay a premium to SGK is the minimum wage. For this reason, with the increase in the minimum wage, the amount of the premium that Bağ Kur members will pay to SSI also increases.
Another issue related to the minimum wage is the upper limit of unemployment wages. That is, the minimum wage concerns not only the employee, but also the unemployed. The highest amount of the unemployment pension is 80 percent of the gross amount of the minimum wage.
With the increase in the minimum wage, the amount to be paid for borrowing from SSI also increases. Since the income limit for premiums subject to loans, such as foreign, birth, and military service, is indexed to the minimum wage, loan costs increase when the minimum wage increases.
Another indicator indexed to the minimum wage is the state contribution in the private pension system. People with a private pension contract receive a state contribution of 25 percent of the premium they pay each month. There is an annual limit for this contribution.
In the private pension system, state contributions can be received in a maximum year as much as the annual amount of the minimum wage.
The increase in the minimum wage also affects people who receive 65-year pensions. To qualify for the 65-year-old pension, the sum of the income of the person over 65 years of age and their spouse must be less than one third of the net minimum wage.
When the minimum wage changes, the income test limit will also be updated. Premiums for those with a per capita income less than a third of the minimum wage in their household are paid by the state. When the minimum wage increases, this limit will also increase.
With the increase in the minimum wage, the administrative fines indexed to the minimum wage will also increase.
MINIMUM SALARY ESTIMATES …
Under the possible scenario, when the minimum wage is increased by 12 percent, the monthly net wage will increase to 2602.88 lire.
Under the possible scenario, when the minimum wage is increased by 15 percent, the monthly net wage will increase to 2,672.6 liras.
Under the possible scenario, when the minimum wage is increased by 18 percent, the monthly net wage will increase to 2742.32 lire.
