Explore our EOR&PEO services in GREECE

As your EOR in Greece, we’d help you expand by hiring employees and running their payroll without establishing a local branch office or subsidiary.

 

Your candidate is hired by a PEO in Greece provider in accordance with local labor laws and can be onboarded in days instead of the months it typically takes. Shortly after, your new employee will be working for you, just like any other member of your team.

Greece EOR Acvian
EOR in Balkans
NzVmAb7 min 2 - Greece EOR and PEO

Country Overview

Greece is a country located in Southeast Europe on the Balkan Peninsula. It is a member of the European Union and the eurozone, and its economy is largely based on tourism, shipping, and agriculture. In 2020, these industries accounted for approximately 20%, 14%, and 7% of Greece’s GDP, respectively. The country has a Mediterranean climate, which attracts many tourists to its beautiful beaches and historic landmarks such as the Acropolis in Athens and the Temple of Olympian Zeus.

General Information

  • Population: ~10.500.000

 

  • Capital City: Athens (population: ~3.000.000)

 

  • GDP: ~$387 billions

 

  • GDP per capita: ~$36.726
  • Currency: Euro (EUR)

 

  • Unemployment: ~5%

 

  • Employer Taxes: 23%

 

  • Employee Taxes: 0% – 36%

EOR SPECIFICS IN GREECE

Employment Contracts in Greece

Employment contracts in Greece are governed by national and European legislation and collective agreements between employee and employer organizations.

 

The most common employment contract in Greece is the indefinite-term contract, which has no predetermined end date. This type of contract can be either full-time or part-time. Full-time employment is typically defined as working at least 35 hours per week, while part-time employment generally is less than 35 hours per week.

 

Fixed-term employment contracts are also standard in Greece and are typically used for temporary or seasonal work. These contracts have a predetermined end date, which is agreed upon by both the employer and the employee at the time of hiring.

 

In addition to indefinite and fixed-term contracts, Greece also recognizes temporary agency work and casual work. Temporary agency work refers to the use of temporary staffing agencies to provide workers to companies temporarily. Casual work refers to irregular or occasional work, such as work on a project-by-project basis.

Probation Period in Greece

Probation period is a trial period that is typically implemented when an employee is hired on a temporary or fixed-term contract. The purpose of a probation period is to allow both the employee and the employer to assess whether the employee is suitable for the job and whether they would like to continue the employment relationship.

 

Probation periods are typically three months in duration, although they can be longer or shorter depending on the terms of the employment contract. During the probation period, the employee is subject to the same terms and conditions of employment as any other employee, and is entitled to the same rights and benefits. However, the employer may terminate the employment relationship at any time during the probation period without having to provide a reason or pay severance.

Working Hours in Greece

The standard working week is 40 hours, typically spread over five days from Monday to Friday. The maximum legal number of working hours per week is 48, although this can be exceeded in certain circumstances, such as temporary or exceptional increases in workload.

 

Overtime is defined as any work performed over the standard 40-hour work week and is typically compensated at a rate of time and a half. However, the maximum amount of overtime that can be worked per week is determined by the specific sector and the type of work being performed.

 

In addition to the standard work week, Greek law also provides a minimum number of paid vacation days per year. Full-time employees are entitled to at least 20 paid vacation days per year, while part-time employees are entitled to a pro-rated amount based on the number of hours they work. In addition, Greek employees are entitled to a number of national and religious holidays throughout the year, which are also paid days off.

Vacation Days in Greece

In Greece, all employees are entitled to a minimum number of paid vacation days per year. Full-time employees are entitled to at least 20 working days of paid vacation, while part-time employees are entitled to a pro-rated amount based on the number of hours they work. Vacation days in Greece are typically taken in one block, although it is also possible to divide them into smaller blocks with the approval of the employer.

 

In addition to the minimum number of vacation days, Greek employees are also entitled to a number of national and religious holidays throughout the year, which are paid days off. It is important to note that vacation entitlements in Greece can vary depending on the specific sector and the terms of any collective agreements that may be in place.

 

In conclusion, all employees in Greece are entitled to paid vacation days and holidays. These entitlements may vary based on the sector of employment and any collective agreements in place.

Sick Leave in Greece

Employees are entitled to sick leave in the event that they are unable to work due to illness or injury. The length of sick leave and the amount of pay that is provided during sick leave depends on the length of time the employee has been with the company, as well as the specific sector of employment and any collective agreements that may be in place.

 

During the first year of employment, employees are typically entitled to full pay for the first 30 days of sick leave, and a reduced rate of pay thereafter. After the first year of employment, employees are typically entitled to full pay for the first 20 days of sick leave, and a reduced rate of pay thereafter.

 

It is important to note that employees are required to provide proof of illness in order to qualify for sick leave, such as a doctor’s note or a medical certificate.

Wages and Salary Payment in Greece

From May 1st 2022 The Greek Ministry of Labor has set a gross monthly minimum wage at the amount of EUR 713.00 for employees and blue-collar workers employed on a full-time basis, without age distinction in Decision No. 38866/21.4.2022. that is 9,982 euros per year, taking into account 14 payments per year.

 

In Greece, employees are typically paid on a monthly basis, with salary payments due at the end of each month. The specific date of the salary payment may vary depending on the employer and the terms of the employment contract.

 

Salary payments in Greece must be made in full and on time, and must be accompanied by a payslip that details the employee’s gross and net pay, as well as any deductions that have been made.

Public Holidays in Greece

Greece has a number of public holidays throughout the year, which are days on which most businesses and government offices are closed. These holidays are usually marked by celebrations, parades, and other cultural events.

 

Some of the most well-known public holidays in Greece include New Year’s Day (January 1st), Independence Day (March 25th), and Christmas (December 25th). In addition to these national holidays, there are also several religious holidays that are recognized as public holidays in Greece, including Easter and the Feast of the Assumption.

Employer Taxes in Greece

Employers are required to pay a number of taxes on behalf of their employees. These taxes include social security contributions, which are used to fund various social welfare programs such as unemployment benefits, retirement pensions, and healthcare.

 

Social security contributions in Greece are calculated as a percentage of an employee’s gross salary, and are paid by the employer on a monthly basis. The specific percentage that is paid depends on the sector of employment and the specific social security program being funded.

 

In addition to social security contributions, employers in Greece may also be required to pay other taxes on behalf of their employees, such as taxes on income and taxes on benefits provided to employees.

Employee Taxes in Greece

Employees are required to pay taxes on their income. These taxes are used to fund various government programs and services, such as healthcare, education, and infrastructure.

 

Income tax in Greece is calculated as a percentage of an individual’s income, and is based on a progressive tax rate system. This means that individuals with higher incomes are taxed at a higher rate than those with lower incomes. The specific tax rate that applies to an individual depends on their income level and tax filing status.

 

14.12% is the employee’s Social Security contribution.

Notice Period in Greece

The notice period refers to the length of time that an employee or employer is required to give in advance before terminating an employment contract.

 

For indefinite-term employment contracts in Greece, the notice period is typically based on the length of time the employee has been with the company. For employees who have been with the company for less than one year, the notice period is typically 15 days. For employees who have been with the company for more than one year, the notice period is typically one month.

 

For fixed-term employment contracts in Greece, the notice period is typically specified in the contract itself. If no notice period is specified in the contract, the notice period is typically the same as for indefinite-term employment contracts.

Termination / Severance in Greece

In Greece, an employment contract can be terminated by either the employer or the employee, in accordance with the terms of the contract and applicable laws.

 

An employment contract can be terminated by the employer for a number of reasons, including but not limited to:

 

  • Poor performance or misconduct by the employee
  • Insufficient work or changes in business needs
  • Bankruptcy or liquidation of the employer’s business

 

If the employer decides to terminate the employment relationship, they must provide the employee with written notice of termination and pay any severance that is due. The amount of severance that is due will depend on the length of the employee’s service, the reason for the termination, and other factors.

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