Article 4 of the Decision of the Board of Directors of Darüşşafaka Society dated 25.03.2014 and numbered 17 is as follows:
4) It is unanimously decided to specify the principles of salary and compensation to be applied for the Society’s senior managers and other personnel within the framework of legislation, and to publish the said principles on our corporate website according to the principles of corporate management.
Pursuant to the Charter of Darüşşafaka Society, no salary shall be paid to the members of the Board of Directors. The payments, which shall be made in consideration of expenses to the members of the Board of Directors, on the other hand, shall separately be stated in the final accounting reports that shall be submitted to the General Assembly.
The payments to be made to the Society’s senior managers and other personnel are specified in line with the frame decision taken by the Board of Directors, while considering Society’s strategies and policies as well as the performance of the personnel and taking into account the duties, responsibilities, experience and critical success indicators of the personnel at arm’s length to equivalent positions within or outside of the Society.
Personnel Compensation Politicy
The Society specified the Personnel Compensation Policy by referring to the Labor Law dated 22.05.2003 and numbered 4857.
Within this framework,
Seniority Indemnity is paid based on the employment term and salary of the personnel according to the related articles of the Law to the personnel who is entitled to Seniority Indemnity by having seniority for a certain period of time and whose labor contract is terminated according to one of the conditions stipulated in the Labor Law numbered 4857 or to the personnel’s legal heirs.
Notice Pay is applied according to Article 17 of Law numbered 4857 as follows:
- by delivering a notice to the personnel whose labor contract will be terminated according to the seniority of the personnel within the periods stated in the said Law and by providing job-seeking permission; or
- by paying job-seeking allowance to the personnel in cash until the end of notice period.