Severance Pay Calculator
Get an indicative estimate of your final settlement (finiquito) when your employment ends, including compensation, pending salary, holidays and extra payments.
Results
Compensation
—
Pending salary
—
Pending holidays
—
Pending extra payments
—
Total gross
—
Estimated income tax withholding
—
Estimated total net
—
Compensation for unfair dismissal is calculated at 33 days of salary per year worked (capped at 24 monthly payments), or 12 days per year for the end of a fixed-term contract. The remaining items are prorated for the days worked in the corresponding period.
When should you use this calculator?
The finiquito is the final economic settlement an employer must pay an employee when the employment relationship ends, whether due to dismissal, resignation or contract expiry. It includes all outstanding amounts: salary for days worked since the last payslip, unused holidays, prorated extra payments and, where applicable, the legal compensation.
Legal context in Spain
Compensation depends on the type of contract termination. For unfair dismissal, Spanish labour law sets compensation at 33 days of salary per year of service, capped at 24 monthly payments, for contracts signed after the 2012 labour reform. For the end of a fixed-term contract, compensation is 12 days per year worked. Voluntary resignation and fair dismissal generally do not generate a right to compensation.
In addition to compensation, the settlement includes salary for days worked since the last payslip, accrued and unused holidays, and the proportional part of the summer and Christmas extra payments not yet received. Income tax is withheld on the total amount, varying according to the sum and the worker's personal situation.
This calculator provides an indicative estimate based on current Spanish labour regulations. For specific cases, especially where a collective agreement offers more favourable terms, consult a labour consultant or employment lawyer.
Frequently asked questions
How many days of compensation apply for unfair dismissal?
33 days of salary per year worked, capped at 24 monthly payments, for contracts signed after the 2012 labour reform.
Am I entitled to compensation if I resign voluntarily?
As a general rule, voluntary resignation does not generate a right to compensation, unless the collective agreement states otherwise.
Is severance pay taxed?
Pending salary, holidays and extra payments are taxed as employment income. The minimum legal dismissal compensation is usually exempt up to certain limits.