Salary and Social Security Institute, passwords of the quotes

You explain in what consist the quotes that appear reflected in your salary monthly
The Social Security Institute constitutes one of the major achievements of the model of Spain well-being. This system of social protection sees about assign benefits and resources with the aim of guarantee the economic stability of the people in situation of need and avoid thus the social inequalities. The financing of the Social Security Institute proceeds, mostly, of the contributions of the workers of the country, that discount automatically of your monthly salary. If are an employee and you have questioned some time which is the relationship among the figures and percentages that appear in your salary and the Social Security Institute , in this item you it count.
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What is the salary?

The salary is a document business that uses as supporting document fee-paying of the wage that perceive the employees. This way, the salaries fulfill a double function: in the first place, allow to the companies take a record of the payments associated to each one of your wage earners; in the second place, inform to the workers of the origin of the wage subscriber, pointing out the concept of all the allocations, deductions and retentions applied.

In Spain, the salaries usually issue in a monthly way and, given that is official records, tend to present a very similar structure. Generally, the information relating to the wage of the worker appears itemized in a series of concepts that include, at least, the basic rate and each of the retentions applied. These retentions divide, at the same time, in two groups: the percentage contributed to the Internal Revenue service in concept of PERSONAL INCOME TAX and the contributions to the Social Security Institute. The amount resulting from the deduction of the contributions and the contributions, operation that can carry out with our calculator of salaries, is the income after taxes that perceives the worker in your bank account.

Social security contributions: bases, concepts and percentages

The quotes to the Social Security Institute have as objective the sufragación of the expenses specific to this system of protection, as can be the expenses sanitary, the widow's pensions or those ones of retirement. As a rule, the companies are the responsible for pay to the Social Security Institute the amount corresponding to the quotes monthly, that combines so much the contributions implementable to the company as the quotes individual of each worker. These last ones are which reflect in the salaries and deduce of the gross pay of the wage earners.

The fee of the Social Security Institute to the one which owes face every worker calculates depending on two elements: the contribution basis and the contribution rates. The contribution basis makes reference to the amount on the one which apply the percentages corresponding, and coincides with the total remuneration to the one which has the right the worker every month. Generally speaking, this amount makes up so much the contribution monthly as the proportional part of the pays extraordinary and other perceptions that, although not have character monthly, apply over that same exercise. Every year, the State establishes some contribution bases minimum and maximum that vary depending on the professional status of the worker. In the event that the figure corresponding to the contribution basis of the wage earner is inferior or higher than the limits stipulated, owe adjust the amount so that coincides with the minimum amount or maximum (according to corresponds).

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The contribution rates , on the other hand, make reference to the percentages that apply on the contribution basis for calculate the individual fee of the Social Security Institute. In the same way that the minimum bases and maximum, the contribution rates revise and adapt annually, so is recommendable consult them in a periodical way. Nowadays, the types implementable in the salary of the employees are the following ones:

  • Common contingencies: 4.70% of the contribution basis. This concept makes reference to the common illnesses, the non-occupational accidents and the maternity.
  • Extra hours: 2% in the event of force majeure and 4.70% in the rest of the cases.
  • Unemployment: 1.55% in the case of the indefinite contracts and 1.60% in that one of the temporary contracts.
  • Education: 0.10% of the contribution basis in the contracts of education.

This way, the system of quotes to the Social Security Institute expects be it more equitable possible, demanding the payment of some fees that are proportional to the wage of each worker.

BBVA not is person responsible for the content, truthfulness, accuracy, sufficiency, integrity or update of this item, since has been elaborated for third parties unaware of BBVA. The item has merely informative value and guiding, in no case is binding nor compulsory and not constitutes commercial offer or commitment contractual one of BBVA.

Your salary in BBVA

You offer ones very good conditions when enter your salary thanks to your Account Salary Goes With you. But if what wish is bring it to BBVA from another company in a fast and simple way, put at your disposal our Removals service (to the one which can access from or from BBVA's app), which is responsible for carrying out the entire process conveniently, quickly and at no cost to you. Enters and learn more.
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