The terms and conditions of the new program “First Seal” that begins on January 1, 2022 specify a Joint Decision of the Ministers of Finance and Labor and Social Affairs, based on the regulation of Law 4855/2021.
The program – implemented by the Ministry of Labor and Social Affairs – aims to facilitate the first entry of young people into the labor market and the creation of new jobs in private sector companies.
The subsidy provides incentives for young people to look for the interested company to hire them to receive the subsidy, as well as for employers to create new jobs as wage costs are reduced.
The program is open to young people aged 18-29 who do not have previous work experience in the private or public sector.
Under the program, the state budget subsidizes for six months each hiring of a young person without work experience with a full-time employment contract, with the amount of 1,200 euros shared between employee and employer. In other words, the Ministry of Labor and Social Affairs pays 600 euros directly to the newly hired person, in six equal monthly installments, in addition to his salary and regardless of his amount. An amount of 600 euros is paid to the employer to cover part of the salary expense. The “First Badge” also applies to part-time jobs, as it is also aimed at students who seek to gain professional experience while studying. In this case, the subsidy is reduced by half. If the contract lasts less than six months, the new job is subsidized according to the time of employment and the type of contract (full-time or part-time). For their inclusion in the program, the private sector companies submit a statement to PS ERGANI.
It is noted that the program is accompanied by a job retention clause and can be combined with the open program of 100,000 new jobs, as a company -if it wishes- can simultaneously include the beneficiary with the terms and conditions provided in it. On the contrary, the participants in the “First Seal” can not join the “SYN-ERASIA” mechanism.
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