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Severance pay table
Date: 11/08/2021 13:31

Employee Compensation Table

COMPENSATION TABLE OF EMPLOYEES

(Ν. 2112/1920, Ν. 3198/55, Ν. 3899/2010 & Ν.4093/2012)

Contract termination WITHOUT notice			Contract termination WITH notice
Time of service with the same employer	Amount of compensation	Additional amount of compensation	Notice period	Amount of compensation	Additional amount of compensation
1 year (compl.) up to 2 years	2 months		1 month	1 month
2 years (compl.) up to 4 years	2 months		2 months	1 months
4 years (compl.) up to 5 years	3 months		2 months	1 1/2 months
5 years (compl.) up to 6 years	3 months		3 months	1 1/2 months
6 years (compl.) up to 8 years	4 months		3 months	2 months
8 years (compl.) up to 10 years	5 months		3 months	2 1/2 months
10 years (compl.)	6 months		4 months	3 months
11 years (compl.)	7 months		4 months	3 1/2 months
12 years (compl.)	8 months		4 months	4 months
13 years (compl.)	9 months		4 months	4 1/2 months
14 years (compl.)	10 months		4 months	5 months
15 years (compl.)	11 months		4 months	5 1/2 months
10 years (compl.) or more	12 months		4 months	6 months
Time of service with the same employer (applies to private employees who on 12-11-2012 have completed 17 years or more)		In the calculation below, regular salaries in the amount exceeding 2,000 euros are not taken into account			In the calculation below, regular salaries in the amount exceeding 2,000 euros are not taken into account
17 years (compl.)	12 months	+ 1 month	4 months	6 months	+ 1/2 month
18 years (compl.)	12 months	+ 2 months	4 months	6 months	+ 1 month
19 years (compl.)	12 months	+ 3 months	4 months	6 months	+ 1 1/2 month
20 years (compl.)	12 months	+ 4 months	4 months	6 months	+ 2 months
21 years (compl.)	12 months	+ 5 months	4 months	6 months	+ 2 1/2 months
22 years (compl.)	12 months	+ 6 months	4 months	6 months	+ 3 months
23 years (compl.)	12 months	+ 7 months	4 months	6 months	+ 3 1/2 months
24 years (compl.)	12 months	+ 8 months	4 months	6 months	+ 4 months
25 years (compl.)	12 months	+ 9 months	4 months	6 months	+ 4 1/2 months
26 years (compl.)	12 months	+ 10 months	4 months	6 months	+ 5 months
27 years (compl.)	12 months	+ 11 months	4 months	6 months	+ 5 1/2 months
28 years (compl.) or more	12 months	+ 12 months	4 months	6 months	6 months

Based on the above, after the entry into force of Law 4093/2012, the maximum amount of compensation due to dismissal amounts to 12 monthly salaries for employees who completed 16 years of service and above. Compensation is calculated based on the last month's earnings, under full-time status. The total compensation wages are increased by 1/6.

Law 4093/2012 introduced a transitional provision, which provided for a special method of payment of severance pay to employees who, at the time of publication of the above law (12/11/2012), had completed more than 17 years of service with the same employer. Specifically:

Private employees with a dependent employment relationship of indefinite duration who on 12-11-2012, date of publication of law 4093/2012, have completed seventeen (17) years of service and more with the same employer, are entitled, in addition to the compensation provided for above, in case of termination of their contract, at any time and if they are dismissed, they are entitled to additional compensation increased by one monthly salary for each additional year of service up to 12 monthly salaries.
For the above calculation, the following are taken into account:

The period of service completed by the employee with the same employer on 12-11-2012, date of publication of Law 4093/2012, regardless of when the employee is dismissed.
The additional service completed by the employee with the same employer after 12-11-2012 is not taken into account.
The calculation of this additional compensation is based on the regular earnings of the last month, before the termination of the employment contract, under full-time employment, without taking into account regular earnings the amount exceeding two thousand (2,000) euros.