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Capital City
Athens
Currency
Euro
(
€
)
Timezone
GMT +2
Payroll Frequency
monthly
Tax Year
1 January - 31 December
Employer Tax
22.29%
Languages
Greek
Capital City
Athens
Currency
Euro
(
€
)
Timezone
GMT +2
Payroll Frequency
monthly
Tax Year
1 January - 31 December
Employer Tax
22.29%
Languages
Greek
Greece is recognised as a key player in European Union (EU) shipping and holds a prominent global position in maritime transport, boasting a fleet of 5,000 vessels. It ranks first among nations such as Japan, China, Singapore, and Hong Kong, which collectively represent over half of the world's overseas shipping capacity.
The European Union provides substantial financial backing to Greece, with the country having received 61.9 billion EUR from the European Stability Mechanism, constituting a significant portion of the overall 86 billion EUR budget in financial assistance.
Greece has experienced consistent growth in foreign direct investment since 2016, and it displayed a notable recovery from the 2020 pandemic. This has contributed to an increasingly favourable business environment in the country.
Greece takes pride in its well-established network infrastructure, supported by government investments in business expansion. Greek workers not only possess high levels of technical education and English proficiency, but the country also offers growing employment opportunities.
Businesses can only operate smoothly in Greece if they comply with local labor laws including drafting compliant employment contract agreements and meeting taxation and payroll obligations. Learn more about the employment laws and regulations in Greece below, to avoid any compliance issues.
As per Greek Decree No. 156/1994, aligned with Council Directive 91/533/EEC, employers must provide written information to their employees regarding fundamental terms and conditions of employment within the initial two months of their hiring. This written agreement should encompass the following details:
We can help you get a new employee started in Greece quickly, with a minimum onboarding time of just 1-2 working days. The timeline starts once the employee submits all required information onto the Playroll platform and completes any necessary local authority registrations. For non-nationals, the Right to Work assessment (if applicable) may add up to three extra days. Additional time may be needed for follow-ups on this assessment. Please note, payroll cut-off dates can impact the actual start date. Playroll's payroll cut-off date is the 10th of each month unless otherwise specified.
In Greece, the regular workweek consists of 5 days, each comprising 8 hours, totaling 40 hours weekly. However, it can be extended to 48 hours per week through mutual agreement between the employer and employee.
Work exceeding the regular weekly hours is compensated as overtime, regulated by contracts or agreements. Daytime overtime is paid at 120.00% and nighttime at 125.00% for the initial hour, followed by 140% for the next two hours. The yearly maximum for overtime hours is set at 150.
The first 12 months of indefinite employment contracts are considered to be the probationary period during which the employer may terminate the employment contract without notice and without severance pay.
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1 January - 31 December is the 12-month accounting period that businesses in Greece use for financial and tax reporting purposes.
The payroll cycle in Greece is usually monthly, with employees being paid on the last working day of the month.
The minimum wage for employees in Greece is typically 4.875 EUR per hour, amounting to ~780 EUR per month for a typical 40 hour work week.
Greek law mandates private sector employees to receive two extra monthly salaries, distributed as Christmas (one month's salary), Easter (half a month's salary), and Vacation Bonus (half a month's salary). If Christmas bonuses are delayed, employees can file complaints with labour inspectorates, potentially resulting in fines.
Employer payroll contributions are generally estimated at an additional 22.29% on top of the employee salary in Greece.
In Greece , the typical estimation for employee payroll contributions cost is around 15.87%.
Income tax in Greece follows a progressive rate structure, where factors such as household status and the number of children can influence the overall tax rates.
In Greece, individuals must reach a minimum age of 62 and accumulate 40 years of insurance contributions to the Greek Social Security system to qualify for the complete retirement pension. This pension is disbursed monthly.
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The annual leave entitlement in Greece is 26 days for a full time worker. These can include public holidays on top of that or within those days, which would otherwise be unpaid.
Greece acknowledges 14 public holidays, which are separate from the minimum paid leave entitlement and are taken in addition to the regular annual leave. The national holidays in Greece include:
In Greece, the annual leave entitlement is determined by the following duration of employment for those working a 5-day schedule:
In Greece, pregnant employees have a 119-day maternity leave, with no work allowed 56 days before the due date and 63 days after childbirth. The first month is fully paid by the employer, and from the second month, both the employer and EFKA contribute 50%, including a child benefit. Uninsured employees get a standard maternity benefit of 220.10 EUR.
Fathers are entitled to 14 days of paid paternity leave, to be taken around the childbirth. This leave can start two days before the expected due date, with the remaining days taken within 30 days of the birth or afterward. It is mandatory to provide paternity leave, and it is not linked to the employee's seniority or marital/family status.
Employees who provide a valid medical certificate within 48 hours of falling ill receive paid sick leave, with the duration determined by their length of employment:
After one year of service, employees are eligible for up to four months of parental leave, to be taken continuously or intermittently until the child turns 8. Childcare leave for 30 months after birth or adoption allows for a reduction of one paid working hour per day for the entire period or a reduction of two hours per day for the first 12 months.
Employees receive up to five paid days off for their wedding
Employees are granted two days of paid leave in the event of the death of an immediate family member.
Employees with six months of tenure are entitled to five days of paid leave to care for a relative or someone residing in their household.
Parents, whether full-time or part-time employees, can take up to four working days off per year for each child attending school without any salary deductions, with their employer's approval.
The termination process is dictated by the employment and collective agreements, contract type, and reasons for termination. In the case of indefinite contracts, the employer is required to issue a written notice of termination, and the employee must be registered with the Unified Social Security Fund (EFKA).
If notice periods is different from statutory norms, collective agreements may specify them. The duration of the notice period depends on the employee's tenure and the grounds for termination. In cases where termination is initiated by the employer, the notice period is as follows:
Severance pay in Greece is determined by the duration of the employee's tenure. After one year of service, employees are eligible for the following severance payments:
Disclaimer
THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE LEGAL OR TAX ADVICE. You should always consult with and rely on your own legal and/or tax advisor(s). Playroll does not provide legal or tax advice. The information is general and not tailored to a specific company or workforce and does not reflect Playroll’s product delivery in any given jurisdiction. Playroll makes no representations or warranties concerning the accuracy, completeness, or timeliness of this information and shall have no liability arising out of or in connection with it, including any loss caused by use of, or reliance on, the information.
ABOUT THE AUTHOR
Jesse Weisz
Jesse is an experienced R&D Analyst at Playroll, a leading Employer of Record (EOR) provider. With a strong background in data analysis and market research, Jesse specializes in identifying emerging trends and driving innovation in global HR solutions. She is an all-rounder, critical thinker and success-seeker (often inextricably linked to being a late-night tea drinker).
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