Best Employment Benefits & Executive Compensation Lawyers in Thivais

About Employment Benefits & Executive Compensation Law in Thivais, Greece

Employment benefits and executive compensation in Thivais, Greece are governed primarily by national Greek labor, social security, tax, and corporate governance laws that apply uniformly throughout the country. Local market practices in Thivais may vary by industry and employer size, but the statutory baseline is set by national legislation and collective bargaining agreements. Employers must comply with mandatory pay components such as minimum wage and statutory holiday bonuses, working time and overtime rules, social insurance contributions, and leave entitlements. Executive pay is further influenced by company law, especially for sociétés anonymes and listed companies, which must adopt and disclose remuneration policies and reports, and observe shareholder oversight requirements.

Key topics in this area include structuring fixed and variable pay, bonuses, short and long term incentive plans, equity awards, benefits in kind, pensions and occupational funds, restrictive covenants, change in control protection, termination and severance, taxation and social security treatment, and disclosure and governance rules for boards and senior officers.

Why You May Need a Lawyer

You may need legal support when negotiating an employment offer or executive service agreement that includes complex compensation such as bonuses, equity awards, deferred compensation, or change in control protections. Legal advice is valuable when designing or updating company compensation and benefits policies to ensure compliance with labor, tax, social security, and data protection requirements.

Employers often seek counsel when implementing or harmonizing benefit plans across business units in Thivais and other Greek locations, introducing telework or flexible schedules, or adapting to new laws on working time monitoring and the digital work card. Lawyers are essential when drafting or enforcing non compete, non solicitation, confidentiality, and intellectual property clauses, which must be carefully tailored under Greek law to be enforceable.

During reorganizations, mergers, or acquisitions, legal advice helps address transfer of undertakings rules, continuity of terms, and the treatment of incentive plans and awards. Counsel is also critical in disputes about unpaid bonuses, misclassification of executives, improper unilateral variation of terms, discrimination in pay, wrongful termination, or severance. For listed companies and larger employers, legal guidance is important to meet corporate governance and shareholder approval requirements for remuneration policies and to prepare compliant remuneration reports.

Local Laws Overview

Employment relationship and working conditions are primarily governed by the Greek Constitution, the Civil Code, and modern labor statutes such as Law 4808-2021 on labor law modernization, which introduced rules on working time, telework, parental leave, equality, and the Hellenic Labor Inspectorate as an independent authority. Employers must use the ERGANI II system to file employment data and observe the digital work card where applicable. Working time typically centers on a 40 hour week, with overtime and overwork subject to caps, advance declarations, premiums, and record keeping.

Pay includes base salary and mandatory holiday bonuses. Private sector employees are entitled to a Christmas bonus, an Easter bonus, and a vacation allowance, with specific calculation rules and caps. The statutory minimum wage is set nationally and may be complemented by sectoral or company level collective bargaining agreements. Seniority increments and allowances can apply depending on the legal framework and any applicable agreements in force.

Leave entitlements include annual paid leave based on service length, public holidays, sick leave with social insurance coordination, maternity and paternity leave, and parental leave under EU aligned rules. Anti discrimination and equal pay obligations arise under Greek and EU law, with protections for gender, age, disability, race, religion, sexual orientation, and other grounds. Health and safety duties are set under the Code on Occupational Health and Safety, requiring risk assessment, training, and preventive measures.

Social insurance is administered by e EFKA for main pension and contributions, with health coverage through EOPYY. Auxiliary pensions and lump sum benefits may apply, and a newer capitalized auxiliary scheme exists for certain new entrants. Employers in Thivais commonly supplement statutory benefits with private group insurance, medical coverage, meal vouchers, and company car or phone, which are regulated as benefits in kind for tax and contributions.

Executive compensation is shaped by employment and company law. For sociétés anonymes, Law 4548-2018 and Law 4706-2020 impose corporate governance requirements, including approval of remuneration policies by the general meeting for listed companies and the preparation of an annual remuneration report subject to a say on pay. Equity incentives such as stock options, restricted stock, and phantom plans are permitted and must be carefully drafted to address vesting, performance conditions, good and bad leaver events, and corporate actions. Greek income tax rules under the Income Tax Code regulate the timing and rate of taxation and the treatment of benefits in kind, with special regimes that can apply to equity awards subject to conditions and holding periods.

Termination of indefinite term employment normally does not require cause but must follow formalities and triggers severance based on service under long standing statutes and subsequent reforms. Notice and pay in lieu rules apply, and executives may have tailored severance formulas, bonus accrual provisions, and treatment of unvested awards. Non compete and non solicitation clauses are enforceable only if reasonable in scope, duration, and geography, and usually require separate consideration to be valid under Greek law. Confidentiality and intellectual property provisions are standard and should align with Greek IP statutes and the Civil Code.

Frequently Asked Questions

What benefits are mandatory for employees in Greece?

Mandatory components include the statutory minimum wage, annual paid leave, public holidays, and three holiday bonuses known as the Christmas bonus, the Easter bonus, and the vacation allowance, each calculated under specific legal formulas. Employers must also make social insurance contributions to e EFKA for salary and most benefits in kind, and comply with working time and overtime rules.

How are bonuses treated for tax and social security purposes?

Cash bonuses are treated as employment income subject to payroll withholding, income tax, and employee and employer social insurance contributions. The holiday bonuses are also subject to contributions and tax with certain calculation rules. Plan terms should specify whether a bonus is discretionary or contractual, the performance criteria, and the timing of payment to avoid disputes and unintended liabilities.

Can an employer unilaterally change an executive compensation package?

Unilateral detrimental changes to essential terms such as salary, bonus opportunity, or job grade are generally prohibited and may constitute constructive dismissal. Changes should be implemented by mutual agreement, through a valid variation clause that is precise and proportionate, or in limited cases where law or a collective agreement permits. Documenting consent and filing any required updates in ERGANI II is important.

Are non compete clauses enforceable in Greece?

Non competes are enforceable if they protect a legitimate business interest and are reasonable in scope, geographic area, and duration. They usually require separate and adequate consideration. Clauses that are too broad or punitive risk being invalid. Non solicitation, non poaching, and confidentiality clauses are also common and should be tailored to the role and sector.

How is severance calculated for executives?

Severance for indefinite term employees is based on statutory formulas tied to length of service, with different amounts depending on whether notice is given. Executives often negotiate enhanced severance, pro rata bonus, and treatment of equity or deferred compensation in their agreements. Compliance with formal dismissal procedures and timely payment is critical to avoid penalties.

What happens to unvested equity awards when employment ends?

The plan and grant documentation control vesting and forfeiture on termination. Good leaver and bad leaver definitions should be clear, and special events such as retirement, disability, death, or change in control require bespoke rules. For listed companies, insider trading, disclosure, and blackout policies must also be observed.

Do directors or board members have the same rights as employees?

Directors of sociétés anonymes usually hold a corporate office that is distinct from employment. Some executives may have both a board mandate and an employment agreement. The classification affects social insurance, taxation, termination rights, and severance. Careful structuring and documentation are necessary to avoid misclassification and unexpected liabilities.

Are collective bargaining agreements relevant in Thivais?

Yes. Sectoral, occupational, or company level collective agreements may apply depending on the employer and the employee category. Where applicable and extended, their terms on pay scales, allowances, working time, and benefits are binding. Employers in Thivais should verify coverage and track renewals or extensions.

How are benefits in kind such as cars, housing, and vouchers treated?

Benefits in kind are generally taxable under specific valuation rules of the Income Tax Code and usually attract social insurance contributions. The tax treatment varies by benefit type and usage. Employers should maintain clear policies and accurate payroll reporting to avoid assessments.

What compliance obligations apply to listed companies regarding executive pay?

Listed companies must adopt a shareholder approved remuneration policy, prepare an annual remuneration report, and ensure oversight through a remuneration committee under corporate governance rules. Disclosures must align with company law and capital markets regulations, and say on pay votes and transparency standards must be respected.

Additional Resources

Ministry of Labor and Social Affairs. Provides guidance on working time, leave, minimum wage, bonuses, and use of ERGANI II and the digital work card.

Hellenic Labor Inspectorate. Independent authority overseeing compliance with labor law, inspections, and penalties. Regional offices cover the area that includes Thivais.

e EFKA and EOPYY. Main social security and health organizations for contributions, benefits, and employer registration.

Hellenic Capital Market Commission and Athens Stock Exchange. Relevant for listed company disclosure, insider rules, and share based plans.

Hellenic Data Protection Authority. Guidance on processing employee data, monitoring, background checks, and GDPR compliance.

Organization for Mediation and Arbitration OMED. Support for collective bargaining, mediation, and arbitration of labor disputes.

Public Employment Service DYPA. Programs on employment, training, and subsidies that can interact with compensation and benefits planning.

Occupational Insurance Funds TEA framework. The regulatory regime for voluntary occupational pension funds and recent reforms on auxiliary pensions.

Next Steps

Collect and review your documents, including employment contracts, bonus plans, equity award agreements, company policies, any collective agreement that might apply, and recent payslips or payroll summaries. Accurate records are essential to assess rights and obligations.

Identify your objectives. For employees and executives, clarify what you want to negotiate or enforce, such as salary, bonus metrics, vesting protection, non compete scope, or severance. For employers, define the desired compensation structure, compliance checkpoints, and timelines for implementation or remediation.

Seek tailored legal advice from a lawyer experienced in Greek employment, tax, social security, and corporate governance matters. Local familiarity with practices in Thivais and the wider region can help with market benchmarks and collective agreement coverage. Ask for a written assessment of risks, options, and proposed amendments to your documents.

Align payroll, HR, and finance. Ensure payroll systems correctly withhold tax and contributions on cash and in kind benefits, register changes in ERGANI II, and track working time and overtime through the digital work card if applicable. Coordinate with your accountants on the tax treatment of bonuses and equity.

Implement and monitor. Finalize agreements, approvals, and filings, train HR and managers on the new policies, and set up periodic reviews to capture legal updates. Keep clear audit trails for decisions on bonuses, performance goals, and vesting outcomes to reduce disputes.

If a dispute arises, consider early negotiation or mediation through OMED where appropriate, and be prepared to escalate to the Labor Inspectorate or courts with counsel if needed. Timely action and well documented facts improve outcomes.

This guide provides general information only. Greek employment and corporate laws change frequently, and specific facts matter. Consult a qualified lawyer before taking action.