Payroll & Employment
Christmas Bonus, Easter Bonus & Holiday Allowance: How They Are Calculated
Published · 6 min read · NS Accounting & Tax Office
Every year, during the festive periods and before summer, employers and employees seek clarity on calculating holiday bonuses and holiday allowance. At NSTAX, an accounting firm in Athens with 10 years of experience in business payroll, we explain the basic calculation rules so you can avoid errors and late payments.
Christmas Bonus — How It Is Calculated
The Christmas bonus is calculated based on the employment period from 1 May to 31 December. For full employment throughout this period, the employee is entitled to one full monthly salary (or 25 daily wages for employees paid by the day). If the employment relationship does not cover the entire period, the bonus is calculated proportionally based on the days actually worked. Payment must be made no later than 21 December.
See the Ministry of Labour’s official information on the statutory payment deadline.
Easter Bonus — How It Is Calculated
The Easter bonus corresponds to the employment period from 1 January to 30 April. For full employment, the employee is entitled to half a monthly salary (or 15 daily wages). As with Christmas, if employment covers only part of the reference period, the amount is calculated proportionally.
Holiday Allowance — How It Is Calculated
The holiday allowance corresponds to half the monthly salary for salaried employees, capped at half a monthly salary. For employees paid by the day, hour or commission, it cannot exceed 13 daily wages. Importantly, the Easter and Christmas bonuses are not included when calculating holiday pay.
5 Practical Tips for Employers
For complete payroll support, see our services for businesses, our guide to the digital work card and ERGANI II, and what a new business should organise from day one.
1. Observe payment deadlines strictly
Late payment of the Christmas or Easter bonus may lead to penalties — add the dates to your compliance calendar.
2. Calculate proportional cases correctly
For employees hired or leaving during the reference period, proportional calculation requires accurate calendar-day records — an error directly affects your payroll budget.
3. Do not confuse festive bonuses with holiday allowance
These are three entirely different benefits, each with a different reference period and calculation method.
4. Pay attention to special types of leave
Unpaid leave or sick leave supported by a social security benefit may affect the calculation — review each case separately.
5. Keep documented payroll records
An organised record for every employee, including hiring dates, leave and pay, makes calculation easier and protects you during an inspection.
Need Help with Your Business Payroll?
NSTAX manages complete business payroll in Athens, ensuring the correct and timely calculation of bonuses, holiday allowances and other earnings. Contact us to discuss your business needs.
These calculations are based on the general rules of employment law and may differ by case or sector. Contact us for an exact calculation for your business.