INTEREST ON LABOR CLAIMS

Employee claims are the rights and entitlements that an employee acquires in return for their work. While compensation claims require the termination of the contract, some claims, such as overtime pay and holiday pay, do not require contract termination and can be claimed from the moment the right arises.

Below, the aforementioned employee claims will be examined in the context of interest and statute of limitations:

Ø  IN RECEIVING PAYMENT

1. Holiday pay, bonuses, and incentive payments are included in this category.
2. The interest rate that will be applied is the highest deposit rate
3. If a payment date is agreed upon in the contract, interest does not accrue before that date. Interest begins to accrue after the employer delays this date. Under normal circumstances, the date the notice is given is the starting date for interest accrual. If there is no notice, the interest accrues according to the date of the lawsuit or amendment
4. The debt expires after 5 years.
5. The statute of limitations begins from the month in which the payment is due.
6. The termination of the contract is not a prerequisite for making this claim.

 

 

Ø  WHEN TAKING ANNUAL LEAVE

1. The termination of the contract is a prerequisite for making a claim.
2. The type of interest to be applied is legal
3. Interest begins to accrue on unused annual leave pay after the contract is terminated and the employer defaults.
4. The statute of limitations for this type of receivable is 5 years, starting from the date of termination.
5. Interest accrual begins on the date the notice is given. If there is no notice, it begins on the date of the lawsuit or amendment

 

Ø  SEVERANCE PAY

1. The termination of the contract is a prerequisite for making a claim.
2. Interest commencement date termination
3. The statute of limitations is 5 years, but it begins on the date of termination.
4. The interest rate to be applied is the highest deposit rate

 

 

Ø  IN NOTICE COMPENSATION

1. The interest commencement date is the date of the notice, or if not, the date of the lawsuit or amendment
2. The statute of limitations is 5 years from the date of termination.
3. The type of interest to be applied is legal

 

 

Ø  COMPENSATION FOR FAILURE TO START EMPLOYMENT

1. Interest accrues the day after the date the transaction should have started.
2. The statute of limitations also begins to run from the same day, and this period is 5 years from that day.
3. The type of interest to be applied is legal

 

 

Ø  OCCUPATIONAL DISEASE COMPENSATION

1. The date the hospital report regarding the illness is received is the starting date for both the interest accrual and the statute of limitations.
2. The statute of limitations is 10 years.
3. The type of interest to be applied is legal

 

 

Ø  COMPENSATION FOR WORK ACCIDENTS

1. The date of the accident is the starting date for both interest accrual and the statute of limitations.
2. The statute of limitations is 10 years.
3. The type of interest to be applied is legal

 

 

 

TYPE OF RECEIVABLE	TYPE OF INTEREST RATE	INTEREST START	STATUTE OF LIMITATIONS
WAGES EARNED (SALARY, OVERTIME PAY, HOLIDAY PAY, (BONUS, PREMIUM PAYMENTS)	Highest deposit interest rate	Date of the warning notice (date of amendment or lawsuit)	From the month in which the payment is due 5 YEARS
SEVERANCE PAY	Highest deposit interest rate	Termination date	5 years from the date of termination
NOTICE PAYMENT	Legal interest	Date of notice (Date of lawsuit or amendment)	5 years from the date of termination
COMPENSATION FOR FAILURE TO START EMPLOYMENT	Legal interest	It is the day after the day the job should have started	5 years from the date of commencement of employment
ANNUAL LEAVE ENTITLEMENT	Legal interest	Termination date	5 years from the date of termination
OCCUPATIONAL DISEASE COMPENSATION	Legal interest	Date the hospital report was received	From the date the hospital report was received from 10 years
COMPENSATION FOR WORK ACCIDENTS	Legal interest	Date of the accident	10 years from the date of the accident