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Required by the Bank of 1 July, payment of salaries and compensation of employees (new CMD)

What changes in the salaries of employees by bank. The CMD was published in the Government Gazette…..

A significant change in the status of severance pay, redundancy, the private sector brings the Common Ministerial Decision (JMD) who signed the Ministries of Labor and Finance.

As the JMD sets (26034/695/6-6-2019) posted at "Clarity", from 1 July 2019 employers are required to pay severance payments exclusively through the bank accounts of employed beneficiaries.

In the same CMD noted that the employer must specify for each payment, the reasons and the period which concerns.

The payment of severance pay to the accounts of beneficiaries can be done in any way, including the use of electronic means of payment (l.ch. e-banking) or payment service.

This JMD, which translates to Article 51 of Law. 4611/2019, complements the first sentence of paragraph. 10 of the article 38 of Law. 4387/2016.

In this article of the law, recalled, introduced compulsory payment through bank accounts of employees' salaries.

This article 2016, however, not included severance payments.

Entire JMD

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