Finiquito Calculator (Spain)
When an employment relationship ends in Spain — whether by dismissal, end of contract or resignation — the company must pay you the finiquito: the settlement of everything you have accrued and not yet been paid up to the last day. This calculator estimates that gross amount by adding its three usual pieces: the salary for the days you worked in the month of leaving, the holiday you accrued and did not get to take, and the pro-rata share of the extra payments if you receive them separately. Watch out for a very common mix-up: the finiquito is not the severance pay for dismissal; they are distinct concepts that are often paid together.
Estimated settlement (gross)
Daily salary:
Simplified gross estimate of the finiquito (salary for the days worked in the month + accrued but untaken holiday + the pro-rata share of the 2 extra payments, accrued annually). It does not include severance pay for dismissal — a separate item — nor the IRPF and Social Security deductions or collective-agreement items. Check your collective agreement or a labour lawyer before signing.
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How it works
The finiquito starts from the daily salary, which is your gross monthly salary divided by 30. That figure drives the three items. First, the salary for the days worked: if you leave on the 15th of the month, you are owed 15 days of that month's pay. Second, the accrued but untaken holiday: for each holiday day you generated during the year and did not take, you are paid one day of salary (in Spain the legal minimum is 30 calendar days of holiday a year, accrued month by month). Third, the pro-rata share of the extra payments: in Spain there are normally two extra payments a year (summer and Christmas); if they are not spread across your twelve payslips, the finiquito pays you the share accrued since the last payment, in proportion to the days elapsed in the year. The sum of those three items is the gross finiquito; the IRPF and Social Security withholdings are then applied, just as on a normal payslip.
What the finiquito in Spain includes
The finiquito gathers what has accrued and is pending payment on the leaving date, regardless of the reason. Do not confuse it with severance pay, which only appears in some types of dismissal. These are the items this calculator estimates:
| Item | What it is | How it is calculated |
|---|---|---|
| Salary for days worked | The days of the last month you worked and were not yet paid | Daily salary × days worked in the month |
| Untaken holiday | The holiday days you accrued in the year and did not take | Daily salary × pending holiday days |
| Pro-rata extra payments | The accrued part of the 2 extra payments if not spread out | Monthly salary × 2 × (days worked in the year ÷ 365) |
| (Separate) Severance | Only in unfair or objective dismissal; not part of the finiquito | 33 days/year (unfair) or 20 days/year (objective) |
Finiquito and severance are not the same
This is the most frequent confusion. The finiquito is always received by anyone who leaves a job — even if they resign voluntarily — because it is simply the settlement of what has already been earned. Severance, by contrast, only exists when the law grants it: in an unfair dismissal it is 33 days of salary per year worked (with caps), in a valid objective dismissal 20 days per year, and in a voluntary resignation or a valid disciplinary dismissal there is no severance, only the finiquito. That is why this calculator estimates only the finiquito: severance depends on the type of dismissal and the seniority, and is added separately. A practical tip: when signing the finiquito receipt it is worth writing "no conforme" (not in agreement) if you disagree with the figures, because you have only a limited window to claim (the dismissal action lapses after 20 working days).
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Preguntas frecuentes
- Is the finiquito the same as severance pay?
- No. The finiquito is the settlement of what you have already accrued and not been paid (days worked, pending holiday, part of the extra payments) and you always receive it, even if you resign. Severance is an extra payment that only exists in certain dismissals: 33 days of salary per year in an unfair dismissal, 20 days per year in an objective one, and zero in a voluntary resignation. This calculator estimates only the finiquito.
- How is untaken holiday calculated?
- For each holiday day you accrued and did not take, you are paid one day of salary (monthly salary ÷ 30). In Spain the legal minimum is 30 calendar days a year, accrued in proportion to the months worked. If you leave halfway through the year having accrued 15 days and taken none, the finiquito pays you those 15 days of salary. Enter in the calculator the days you had left pending.
- What does it mean for the extra payments to be prorated?
- In Spain there are normally two extra payments a year. Some companies pay them separately in summer and at Christmas; others "prorate" them, spreading their amount across the twelve monthly payslips, so each month you receive a little more. If they are prorated, you have already been receiving them and nothing extra is due in the finiquito for that item. If they are paid separately, the finiquito includes the part you accrued since the last payment.
- Does the finiquito have IRPF withholding?
- Yes. The finiquito is taxed as employment income, just like a payslip: IRPF withholding and Social Security contributions apply. This calculator gives you the gross amount (before those withholdings), which is the usual reference for checking the figures are right; the net you receive will be somewhat lower. Severance pay for dismissal, by contrast, is usually exempt from IRPF up to certain limits.
- How long do I have to claim if I disagree?
- Not long, which is why you should not sign lightly. If you consider the dismissal unfair, the action to claim lapses 20 working days after the dismissal date. When signing the finiquito receipt you can add "no conforme" (not in agreement) in your own hand to record that you do not accept the figures; signing "conforme" without more may be read as waiving your right to claim. When in doubt, consult a labour lawyer before signing.