GreeceAccounting and Audit
Greece does not at present have a uniform Social Security System. There are many different social security funds covering various sectors of the population. For example, there are separate funds for the legal profession, teachers, engineers, commercial traders, merchant marine, farmers and employed persons in general. All funds are under the direction of the Ministry of Social Services.
In addition to the basic Social Security Funds, employed persons must also be covered by a supplementary retirement fund. The main funds available to employed persons are the Social Retirement Fund (IKA) and the Employees Supplementary Retirement Fund (TEAM).
All employers are required to register with IKA in each area of their operations and must also register their employees upon the commencement of employment. Their registration with and any contributions payable to TEAM are handled by the IKA offices.
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