Covid-19 Financial support measures: Staff retainment obligations

Covid-19 Financial support measures: Staff retainment obligations

Since March 2020, a series of measures have been launched to boost the economy from the effects of the pandemic, targeting employees and businesses. In this context, many companies have joined measures to increase their liquidity, while at the same time for the assistance they received, they had to meet a number of commitments. The most important of the commitments is to retain staff in accordance with the instructions of each aid scheme. The table below shows in detail the measures implemented since March 2020, as well as the staff retention obligations arising from them.

For the Refundable Advance Programs 1 to 7, the retention of staff is the main clause for reimbursement reduced by 30% (up to 50%) of the amount of the grant, while for the program "Interest Round Subsidy Cycle" and the program "TEPIX II-Subprogram 3 ", the reduction of staff is a reason for cessation of funding.

Enhancement Staff retention up to Comparative date Notes
ΤΕPΙΧ ΙΙ 2 years from disbursement  19/3/2020 Commitment of staff number regardless of the reason for leaving. The control of the retention by the company of the same number of employees that it employed on 19/3/2020 based on the data of the ERGANI system for two years, will be carried out by EAT on January 31 for the years 2021 and 2022 or the next working day, electronically through the ERGANI System and the Financial Intermediaries will be informed accordingly.
Guarantee program - - There is no staff retention clause
Returnable 1 31/10/2020 31/3/2020

Excludes: voluntary departures, expiration of fixed-term contracts or termination due to retirement or cause of death

Returnable 2 31/10/2020 1/6/2020

Excludes: voluntary departures, expiration of fixed-term contracts or termination due to retirement or cause of death

Returnable 3 31/12/2020

The company is obliged to maintain from 1 August 2020 until 31 December 2020 the number of employees it employed during 1 August 2020, based on the data of the ERGANI system. In case the number of employees employed by the company on 1 August 2020 is higher than that employed on 1 March 2020, based on the data of the ERGANI system, the company is obliged to maintain from 1 August 2020 until 31 December 2020 the number of employees employed as of March 1, 2020.

Excludes: voluntary departures, expiration of fixed-term contracts or termination due to retirement or cause of death

Returnable 4 31/3/2021 In case the level of employment that the company had on November 1, 2020 is higher than that it had on March 1, 2020, based on the data of the ERGANI system, the company is obliged to maintain from November 1, 2020 to March 31, 2021 the level of employment at 1 March 2020.

Excludes: voluntary departures, expiration of fixed-term contracts or termination due to retirement or cause of death

Returnable 5 30/6/2021 The company is obliged to maintain from 1 November 2020 until 30 June 2021 the level of employment it had on 1 November 2020, based on the data of the ERGANI system. In case the level of employment that the company had on November 1, 2020 is higher than what it had on March 1, 2020, based on the data of the ERGANI system, the company is obliged to maintain from November 1, 2020 to June 30, 2021 level of employment at 1 March 2020.

Excludes: voluntary departures, expiration of fixed-term contracts or termination due to retirement or cause of death

Returnable 6 31/3/2021 The company is obliged to maintain from 1 January 2021 (s.s. corrected by correct reprint of the Government Gazette) until 31 March 2021 the level of employment it had on 1 January 2021, based on the data of the ERGANI system. In case the level of employment that the company had on January 1, 2021 is higher than that it had on March 1, 2020, based on the data of the ERGANI system, the company is obliged to maintain from January 1, 2021 to March 31, 2021 the level of employment at 1 March 2020.

Excludes: voluntary departures, expiration of fixed-term contracts or termination due to retirement or cause of death

Returnable 7 31/5/2021 The company is obliged to maintain from March 1, 2021 until May 31, 2021 the level of employment it had on March 1, 2021.

Excludes: voluntary departures, expiration of fixed-term contracts or termination due to retirement or cause of death

Interest Subsidy - A cycle 31/12/2020 19/3/2020

Commitment of staff number regardless of the reason for leaving. The control of the maintenance by the company of the same number of employees that it employed on 19/3/2020 based on the data of the ERGANI system and the Interim Financial Institutions will be informed accordingly.

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