Greece

Employment

According to the Labor Code, the employment contract does not have to be in writing, however the employer must provide the employee in writing, their benefit entitlement, salary, working hours and day offs.

Payroll

Salaries are paid monthly. Paydays are at the end of each working month.

HR & Labor

Working Hours: Full time employment is considered 40 hours a week. Employees work eight hours per day, five days a week or six hours and forty minutes for six days a week.
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It is common practice to increase the working hours per week to 45 hours if they work five days and 48 hours if they work six days. However in this case the employee is entitled to overtime pay for the extra hours which is 120% of the average wages. If the work days exceeds six hours, the employee can take a 15 minute break. Minimum Working Age: Employers cannot hire an employee under the age of 15.

Immigration

EU/EEA residents are allowed to enter and work in Greece without a visa. For all the other employees, they must apply for an entry visa and once in Greece, they must apply for a resident permit.

Minimum Wage

Minimum wage is 683 EUR.

Pension Fund

The employer contributes 28% of the salary.

The employee contributes 16.5% of the salary.

Severance Payments

If the employee has been in the company from one year to four years, they receive two months of average wages as a severance pay. From four year to six years, they receive 3 months of wages, from six years to eight years, 4 months of wages. From eight to ten years, they receive 5 months of wages. Ten years in the company, they receive 6 months of wages. From eleven until fifteen years in the company, each year one more monthly wage is added. From fifteen years and on, the employee will receive 12 months of wages.

Advance Notice

No official advance notice requirements.

Termination Procedure

For the first year of employment, the employer can terminate an employee without notice and severance pay. If the employee has been in the company for over one year but less than two, they are entitled to one month’s notice. From twa years to five years, they are entitled to two months notice. From five to ten years, three months notice and over ten years, four months notice. If the employer terminates without notice, they must provide a payment in lieu of the notice.

Sick Days

If the employee has been in the company for four years, they are entitled to one month of sick leave, if they have been in the company for from four to ten years, they receive 3 months of sick leave. From ten years until fifteen years, they recieve 4 months of sick leave and 6 months after fifteen years in the company. Employer refunds ½ of the average monthly pay if the employee has been in the company for less than a year and one month’s pay if they have been in the company for more than a year. According to the Greek Labor Code, it doesn’t prohibit the employer to terminate an employee during a sick leave.

Public Holidays

There are 6 public holidays.

Vacation Days

If the employee has been in the company for a year, they are entitled to 24 days of vacation if they work 6 days a week and 20 days if they work 5 days a week.
If they have been working for 2 consecutive years, one day of vacation is added. After 3 years, one more day is added. If the employee has been in the company for over 10 years but less than 12, they receive 25 days if they work 5 days a week and 30 days if they work 6 days a week.

Social security

The employer must contribute to the social insurance fund at the rate of approximately 24.56% from the employees' gross salaries.

VAT

VAT is 24% standard rate.