After a long maturing time, with the Law 4399/2016 (Government Gazette 117A'/ 22.06.2016) the new institutional framework has been defined for the aid regulations of private investments of the country’s regional and economic development and for the appointment of the Development Council.

The new law is not contrary to the European Community guidelines for state aid and the General Exemption Regulations (Regulation rules 651/2014 EU).

The dismissal of an employee is possible either with or without notice.

The calculation of the severance pay is based on the regular earnings, which the employee (Employee or Worker) received in the last months of his/her employment (Article 5, Paragraph 1, Law 3198/55).

As regular earnings are the Salary and any king of benefits in kind or money considered, which are paid on a regular and permanent basis.

For the calculation of the severance pay, the holiday bonus and the leave allowances do count, which increase the monthly salary or wage by 1/6.

We would like to point out that for the calculation of the severance pay amount, the regular earnings are taken into consideration, however not those of the last month, more specifically, by the amount those exceed eight times the daily wage of an unskilled worker, multiplied with the number 30 (Law 3198/1955, par.1 of article 5).

The severance pay has to be paid immediately, together with the delivery of the document of the employment contract termination of the employee in order for the dismissal to be valid.

If the contract termination takes place with a notice, the employer is obliged to submit a document to the employee, which states that, the employment contract will terminate when the notice period, which is foreseen by the law, is over. The date, the notice period will be over, has to be exactly defined. In this case, that means in the case of the dismissal with notice, the employer has the obligation, on the date which has been defined as the contact termination date (dismissal day), to pay half of the legal severance pay.