Overview

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

calendar icon Public holidays calendar

Taxes

Employer
13.33% - Pension Fund
4.55% - Health Care
25.06% - Social Security
Employee
6.67% - Pension Fund
2.55% - Health Care
16.00% - Social Security
22.00% - 0 - 20,0000
29.00% - 20,000 - 30,000
37.00% - 30,000 - 40,000
45.00% - Over 40,000

Minimum Wage

General

In January 2019, the gross monthly minimum wage in Greece was 683.70 EUR.  As of July 2019, the gross monthly minimum wage is 758.33 EUR. 

Working Hours

General

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

Overtime

Overtime pay increases the more extra hours an employee works per week. 

Depending on the industry, overtime pay for 5-8 hours a week is paid at the rate of 120% of the regular pay.  Anything more than the 5-8 hours is paid at a rate of 140%, and if the employee works more than 120 hours of overtime a year, overtime compensation is increased to 160% of the regular pay. 

VAT

General

24% standard rate.

Mandatory Benefits

Pension Fund

Employees contribute 6.67% of their salaries (with ceiling of 5,543.55 EUR), and employers contribute 13.33% of workers wages.

Social Security

Employers contribute 25.06% of workers wages, and employees contribute 16% of their wages.

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).

Payroll

General

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

Termination

Termination Process

As of May 2019, an employer must provide a valid reason when terminating an employee.  Without a valid reason, the termination is considered invalid.  In addition, the employee can contest and even reverse the termination and the burden of proof lies upon the employer.  

Advance Notice

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 employed

Length of Notice Period

1-2 years

1 month

2-5 years

2 months

5-10 years

3 months

10+ years

4 months

Severance Pay

Severance pay varies depending on the length of the employment and if the notice period has been complied with: 

Duration of employment

If notice period was given

If notice period was not given

 

 

 

Less than 1 year

None

1 month

1-4 years

One month

2 months

4-6 years

1.5 months

3 months

6-8 years

2 months

4 months

8-10 years

2.5 months

5 months

10-11 years

3 months

6 months

11-12 years

3.5 months

7 months

12-13 years

4 months

8 months

13-14 years

4.5 months

9 months

14-15 years

5 months

10 months

15-16 years

5.5 months

11 months

16+ years

6 months

12 months