Overview

Capital
Athens
Currency
Euro (EUR)
Date Format
dd/mm/yyyy (ad)

Taxes

Employer

Employer Payroll Tax

13.33%
Pension Fund
4.3%
Health Care
0.25%
Health in Benefit
3.25%
Supplementary Insurance
1.41%
Additional Contributions
22.54% Total Employment Cost
Employee

Employee Payroll Taxes

6.67%
Pension Fund
2.15%
Health Care
0.4%
Health in Benefit
3.25%
Supplementary Insurance
1.65%
Additional Contributions
14.12% Total Employee Cost

Employee Income Tax

9.00%
0 - 10,000
22.00%
10,001 - 20,0000
28.00%
20,001 - 30,000
36.00%
30,001 - 40,000
44.00%
Over 40,001
Employer Taxes
3 HIGHEST
3 LOWEST
Brazil
China
Slovakia
Greece
South Africa
Georgia
Macedonia
82.39%
41.12%
37.2%
22.54%
2%
2%
0%
Employee taxes
3 HIGHEST
3 LOWEST
Romania
Macedonia
Netherlands
Greece
Georgia
Belarus
Ukraine
45%
28%
27.65%
14.12%
2%
1%
0%

Minimum Wage

General

650 € per month and 29.04€ per day.

Minimum wage (per month)
$4000
$2663
$2491
$726
$47
$36.80
$2.33
Geneva
Luxembourg
Australia
Greece
Malawi
Angola
Venezuela
3 HIGHEST
3 LOWEST

Payroll

Payroll Cycle

Monthly, usually by the end of the month.

13th Salary

Employees are entitled to 13th and 14th salaries

Working Hours

General

Full Time employment is considered 40 hours weekly, and 8 hours daily.

Overtime

Extra Time (Iperergasia):  The maximum time per day is 1 hour and is paid at a rate of 120% of the regular salary.

Overtime (Iperoria):  The maximum time per day are 2 hours and 120 hours per year. These hours are paid at a rate of 140% of the regular salary. For more than 120 hours per year, an approval from the Greek Labor of Ministry is required.

Payroll Contributions

13th Salary

In Greece, there are mandatory 13th and 14th salaries which includes Easter (half a month’s salary), vacation bonus (half month’s salary) and Christmas (a full month’s salary).

Leave

Paid Time Off

Employees that are working 5 days a week are entitled to a minimum of 20 prorated days of leave per year at a full pay. For each additional year of work, employees are entitled to an additional day of leave up to a total of 22 days. Employees with 10 years of service for the same employer or 12 years of service with any employer, are entitled to 25 days leave per year.

For 25 years of service or more, employees are entitled to 26 days leave. In addition, employees are entitled to an annual leave bonus equal to the pay for leave, with a maximum of half a salary.

Vacation days
Public holidays
3 HIGHEST
3 LOWEST
Brazil
Peru
Albania
Greece
Michigan
China
Federal
30
13
43
30
12
42
28
14
42
20
11
31
2
11
13
5
7
12
10
10
Public Holidays

7 public holidays and 4 optional holidays.

Sick Days

In case of sick leaves, the employer is obliged to pay the employee: 13 days only in the 1st year and 25 days from the 2nd year onwards. The days are paid by both the employer and the EFKA.

Maternity Leave

Maternity leave – 119 calendar days. (Only the 1st month is paid by the employer the rest is paid by the EFKA). 56 calendar days should be taken before the childbirth date and the remaining 63 calendar days after the birth.

In addition to the maternity leave, 6-month leave paid the minimum wage by the labour Employment Office (OAED).

Instead of receiving reduced daily working hours mothers may agree with their employers to receive an extra 3.5 months leave paid by the employer.

PAID MATERNITY LEAVE (DAYS)
410
365
365
119
45
30
0
Bulgaria
Serbia
Albania
Greece
United Arab Emirates
Tunisia
Federal
3 HIGHEST
3 LOWEST
Paternity Leave

Fathers are permitted 2 days of paid leave after the birth of their child.

Parental Leave

2 days per childbirth paid by the employer.

Other Leave

Marriage leave: 5 working days

Leave for children’s school grading: 4 working days for each child which is not older than 16 years old. This kind of leave may be used by one of the parents.

Bereavement leave: 2 working days for the death of husband/wife, child, parents, brothers.

Elections leave: the duration is relating to the distance between the polling station and the workplace. Generally, is 1 to 3 working days.

Termination

Termination Process

Indefinite employment agreement is considered to be employment with a probationary period for the first 12 months of the agreement, which may be terminated during the probationary period without notice and without severance pay, unless otherwise agreed by the parties.

After the first 12 months the employee cannot be terminated without prior written notice from the employer, which will take effect from the day after the employee is notified.

These provisions apply for all forms of dismissals, including collective dismissals for employees that are not workers. Terminating workers doesn’t require any notice.

A fixed-term contract can be terminated bye the employee or the employer before the end date immediately without notice period for a ‘Significant reason’. Significant reason includes events during the employer employee relation which make it impossible to continue the agreement in good faith. If a significant reason exists, the employer is not obliged to pay compensation.

Furthermore, article 40 of law 3986/2011 mentions that a fixed-term employment contract, which includes a term for early termination in accordance with requires severance calculation is automatically converted into an indefinite-term employment contract upon termination.

Notice Period

If the employment relationship is based on a fixed term contract, it can be terminated immediately without notice by either the employee or employer.  However, a reason (i.e. breach of contract, failure to comply with the terms of the contract, etc.) is given.  If no reason is given, the employee is able to make claim in court and is able to receive compensation for the wages that would have been received until the contract expiry date.

If the employment contract is for an indefinite period, the length of the notice period depends on the length that the employee has been employed:

Number of Years: 1-2 years
Notice Period: 1 month

Number of Years: 2-5 years
Notice Period: 2 months

Number of Years: 5-10 years
Notice Period: 3 months

Number of Years: 10 years+
Notice Period: 4 months

Severance Pay

For non-workers with indefinite employment agreement the severance pay is calculated as follows:  

Up to 1 year of service – no severance pay required 

From one year of service – the severance changes according to the length of service and can be up to 12 months of severance. 

VAT

General

24% standard rate.

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    Questions & Answers

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    Sam
    Sam
    1 month ago

    Are people who work a six day week entitled to more paid time off than people who work a five day week?

    Alex Margolin
    Admin
    1 month ago
    Reply to  Sam

    Yes, people who work a six day week are entitled to more PTO. They get 24-31 days, depending on the length of their service at the company. People who work a five day week are entitled to 20-26 days.

    Elaine
    Elaine
    3 days ago

    When calculating bonuses, is it mandatory that the additional payments (Easter, Vacation, Xmas) should be included in base pay or should it be calculated on base pay only. Thanks

    Erez Greenberg
    Admin
    3 days ago
    Reply to  Elaine

    Hi Elaine, Bonuses and allowances should be itemized separately from the basic salary on a payslip. This allows for the complete and accurate reflection of the remuneration granted to the employee and provides visibility for an employer, employee, or necessary authority.

    Elaine
    Elaine
    19 minutes ago
    Reply to  Erez Greenberg

    Thanks Erez, so when calculating what bonus payout is, should I be basing this off the employees annual salary including the easter, vacation and xmas bonus or base pay only? Thanks

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