Enter your regular monthly salary and overtime hours to calculate your gross overtime pay, the deductions, and your net overtime income under Greek labour law.
Net overtime pay
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Gross overtime
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Hourly OT rate (140%)
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Total annual gross
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Annual net (incl. OT)
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Your breakdown
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How overtime pay works in Greece
Greek law defines two overtime tiers. Hours 1 to 120 per year are paid at 140% of the hourly rate. Hours above 120 per year are paid at 160%. The hourly rate is calculated as monthly gross divided by 25 (working days per month) divided by 8 (hours per workday). All overtime is included in annual income for tax purposes, so higher overtime hours push you into higher brackets.
Example: 2,000 EUR monthly, 80 overtime hours
Hourly rate: 2,000 divided by 200 = 10 EUR. Overtime at 140%: 80 hours times 14 EUR = 1,120 EUR gross overtime. Annual base gross: 28,000 EUR (14 months). Total gross with overtime: 29,120 EUR. Net annual (including overtime) compared to net without overtime shows approximately 770 EUR additional take-home, representing an effective overtime tax rate of about 31%.
Overtime tips for Greek employees
Overtime income is taxed at the marginal bracket of the combined annual income, not at a special rate. For employees near the 20,000 EUR taxable income threshold, overtime can erode the resident tax credit. Keeping track of cumulative overtime hours ensures you know when the 160% rate kicks in, so you can negotiate with your employer or plan working hours accordingly.
Frequently asked questions
What are the legal overtime rates in Greece?
Greek labour law, specifically Law 3385/2005 as amended, sets two overtime rates for employees working beyond the standard 40-hour week. For the first 120 hours of overtime per year, the rate is 140% of the regular hourly wage (a 40% premium). For any overtime hours beyond 120 per year, the rate rises to 160% of the regular hourly wage (a 60% premium). This two-tier system aims to discourage excessive overtime while still allowing some flexibility. Overtime is voluntary in principle, though some collective agreements permit mandatory overtime with prior notice.
Is overtime taxed differently from regular salary in Greece?
No. Overtime pay is treated as part of ordinary employment income for both EFKA and income tax purposes. It is added to the annual gross salary and taxed under the same 5-bracket system (9% to 44%) as regular pay. There is no flat tax rate or exemption for overtime. Because overtime income pushes annual earnings higher, it will likely be taxed at the marginal bracket that applies to the combined income. For example, an employee on 20,000 EUR base who earns 5,000 EUR in overtime will have 5,000 EUR taxed mostly at 22% to 28%.
How do I calculate my hourly rate for overtime purposes?
The Greek hourly rate for overtime calculation is derived from the monthly gross salary. Divide the monthly gross by 25 (the notional working days per month) to get the daily rate, then divide by 8 (the standard workday) to get the hourly rate. Alternatively, divide the annual gross by 2,000 (approximating 50 working weeks times 40 hours). For a monthly gross of 2,000 EUR, the daily rate is 80 EUR, the hourly rate is 10 EUR, the overtime rate at 140% is 14 EUR per hour, and the overtime rate at 160% is 16 EUR per hour.
What is the maximum legal overtime in Greece per year?
Greek law caps total overtime at 120 hours per year in general, with a further possibility of up to 32 hours per year of extra overtime (above the 120 threshold) authorized by the employer with notification to the Labour Inspectorate (SEPE). Beyond 152 hours per year, overtime is generally not permitted without a specific ministerial approval. These limits exist in part to protect employee health and safety, and violations carry fines for employers. Collective bargaining agreements may set lower overtime limits than the statutory maximum.