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Reminder: January 2024 - Increase of Minimum Wage

The Minister of Labour and Social Insurance announced on 20 December 2023 the increase of the National Minimum Wage after a meeting of the Council of Ministers.

The National Minimum Monthly Wage is increased from 1st January 2024 as follows:

  • For new employees, for the first six months from 885 euros to 900 euros(Gross Wage) for Full Time Work and

  • After six months of continuous employment with the same Employer from EUR 940 to EUR 1000 (Gross Salary).

Exemptions & Exceptions

It should be noted that employees in the Hotel IndustryDomestic Helpers, workers in the Agricultural Sector and workers in the Shipping Sector are exempted from this Decree.

Full & Part-time Working Hours

In addition, it is noted that the Full-Time working hours of workers in each Economic Activity are those that were in effect prior to the issuance of this Decree based on Law, Decree, Custom or Practice i.e. the working hours applicable to each individual enterprise apply. In the case of Fart-Time employees, the Minimum Monthly Wage shall be adjusted in accordance with the hours worked in relation to full-time hours.

For further information, interested parties can contact our firm and our Social Insurance & Payroll Team

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