Amendment to the “Regulation on the Payment of Wage, Premium, Bonus and similar receivables through banks”
The Official Gazette published in the “Regulation on the Payment of Wage, Premium, Bonus and similar receivables through banks” process, a major transformation in the business world will be experienced. In the current application, businesses with 5 or less employees could make salary payments by hand. However, this limit with the new regulation was pulled down.
Employers who employ only 3 or less workers will now be able to pay their payments in cash.
Mandatory bank payment to businesses with employees of 4 and above
With this critical change, if the number of employees in a workplace is 4 or more, the employer will have to make all salaries, premiums and bonuses payments through the bank. This is seen as an important step in the fight against informal employment as well as increasing financial transparency.
