Compensation Policy
While determining the compensation policy for its employees, our Company has adopted the Labor Law No. 4857 dated 22.05.2003 as a reference.
TERMINATION OF AN EMPLOYMENT CONTRACT FOR AN INDEFINITE PERIOD
1- Termination for Valid Reason
Provided that the Company gives the notice of termination in writing and clearly and unequivocally states the reasons for termination in the notification, the employment contracts shall be concluded in accordance with Article 18 of the Labor Law No. 4857 on the basis of a valid reason arising from the competence or behavior of the employee or the requirements of the enterprise, workplace or business and in accordance with Article 17 of the Labor Law. It may terminate by complying with the notice preliminaries set out in the article. The employee may also terminate the employment contract for an indefinite period in writing by complying with the notice periods specified in Article 17.
Notice periods;
- 2 weeks for those who continue for less than six months;
- 4 weeks for those who continue from six months to one and a half years;
- 6 weeks for those who continue from one and a half to three years;
- 8 weeks for those who have continued for more than three years.
In the presence of valid reasons arising from the employee’s conduct or the employee’s incompetence, the employer shall terminate the employment contract in accordance with the procedure in Article 19 of the Labor Code, taking the written defense of the personnel.
The Company and the employee may terminate the employment contract for an indefinite period by paying in advance the compensation equal to the wage for the above-mentioned notice periods. The notice may not be combined with the period of preliminary, annual leave with pay or the periods during which the Personnel are not working due to their report, and may not be included in the notice period.
2- Termination for Just Cause
The Company or the Employee may immediately terminate their employment contracts based on the justified reasons specified in Articles 24 and 25 of the Labor Law No. 4857. Severance and notice payments shall not be paid to the employee whose employment contract is terminated in accordance with the reasons stated in Article 25/II of the Labor Law.
Dismissal Procedures
The procedures for the employee who quit the job are carried out completely in accordance with the Labor Law and the legislation. By law, the Employee’s entitlements are paid. The dismissal procedures are completed by signing the release of the personnel who have left the job and the “Mediation Agreement”.
Dismissal procedures are carried out by releasing and signing.
SEVERANCE COMPENSATION
Employment Contract;
- For reasons other than the “employee’s behavior incompatible with the rules of morality and good faith” indicated by the employer in Article 25, paragraph II of Law No. 4857,
- In cases of termination of employment contracts by the employee in accordance with Article 24 of the Law by the employee without giving notice period and requesting the right to severance pay,
- Due to active military service by the personnel
- Worker; because he voluntarily resigned for the purpose of receiving old-age, retirement or disability pensions,
- By completing other conditions other than the ages stipulated in subparagraphs (a) and (b) of subparagraph (A) of the first paragraph of Article 60 of the Social Insurance and General Health Insurance Law No. 5510 or by completing the insurance period and the number of premium payment days foreseen for the connection of old-age pension in accordance with the Provisional Article 81 of the same Law,
- Due to the fact that she voluntarily resigned by the Female Staff within one year from the date of her marriage,
- Due to the death of the employee, in case of termination, Article 14 of the Labor Law No. 1475 Severance pay is paid in accordance with the clause.
Provided that the statutory ceiling on severance pay is not exceeded, the Employee shall be paid severance pay in the amount of 30 days’ pay for each full year of seniority. For periods exceeding one year, payment is made at the same rate.