Calculator for Spain. The rates, thresholds and reference prices used here come from Spanish legislation and market data, so the result does not apply to other countries.
Finiquito Calculator (Spain) — Final Settlement
Estimate your finiquito (final settlement): unused holidays, unpaid worked days and pro-rata bonus payments — shown separately from any dismissal indemnity.
Parameters last reviewed on 05/09/2026 · Sources: BOE — Estatuto de los Trabajadores
Severance pay (finiquito) is the financial settlement the company is obliged to give an employee when the employment contract ends, whether through dismissal, voluntary resignation, end of contract or mutual agreement. It covers three basic items: unused holiday days, wages for the current month not yet paid, and the pro-rata share of bonus payments.
It is important to distinguish severance pay from dismissal compensation: severance pay is always owed, while compensation is only applicable in certain types of dismissal (unfair dismissal: 33 days/year, objective dismissal: 20 days/year). This calculator helps you estimate the gross severance amount so you can verify that the document proposed by the company is correct.
Estimated final settlement
3,321.92 €
Always owed, whatever the reason the contract ends.
Dismissal indemnity
Only where it applies, depending on the reason for termination. Voluntary resignation and justified disciplinary dismissal generate no indemnity.
This calculation is an estimate based on 20 days per year (objective dismissal). Factors such as collective agreements, unjustified absences or specific contract types may alter the final result.
Reviewed in 2026
Reviewed in September 2026 under current Spanish labour regulations.
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Indicative gross estimate. Does not include income tax withholding. Objective dismissal compensation is 20 days/year. Consult a labour adviser for the exact amount.
What severance pay is and how to calculate it
Severance pay (finiquito) is the amount the company owes you when the contract ends, whatever the reason. It brings together three items: the holiday days you have not taken, the wages accrued but not yet paid for the current month, and the pro-rata share of bonus payments built up since the last one.
Each part is calculated from the daily wage (annual gross salary divided by 365). Pending holidays and worked days are multiplied by that daily wage, and the bonus pro-rata is worked out from the months elapsed. This calculator adds the three items to give you a gross estimate.
Example
With a monthly gross salary of €2,500 (≈ €82.19/day), 10 pending holiday days come to about €821.90, on top of which you add the unpaid worked days and the pro-rata share of bonus payments.
What the settlement is made up of
The settlement clears everything the company owes you when the contract ends, whatever the reason. It comprises three main items. The first is accrued but untaken holiday, calculated by multiplying the outstanding days by the daily wage. The second is the days actually worked in the current month that have not yet been paid. And the third is the proportional share of extraordinary bonus payments, applicable only if they are not already pro-rated in monthly payslips. To these three items you may add concepts such as outstanding commissions, unpaid overtime or holiday funds, and where applicable the dismissal indemnity, which is legally distinct from the settlement itself.
Full example: contract ending on 20 September
Someone on €2,100 gross a month, with bonus payments not pro-rated, leaving the company on 20 September with 8 untaken holiday days. Their daily wage is 2,100 / 30 = €70. First, days worked in September: 20 × 70 = €1,400. Second, untaken holidays: 8 × 70 = €560. Third, the proportional share of the extra payments: if the Christmas one accrues from January to December and 263 of 365 days have accrued, that is 2,100 × 263 / 365 = €1,513; if the summer one was already paid in July, it generates nothing further. The gross settlement would come to about €3,473, to which income tax and contributions apply. If the contract also ends at the employer's initiative, the dismissal indemnity is computed separately and is not part of the settlement.
Worked example
A worker with a gross annual salary of €30,000 has a daily wage of 30,000 / 365 = €82.19. If 12 days of untaken holiday remain when the contract ends, they are owed 12 × 82.19 = €986.28. If they also worked 10 unpaid days of the current month, that adds another €821.90. And if bonus payments are not pro-rated and 5 months have passed since the last one, the proportional share would be approximately (2,500 / 12) × 5 = €1,041.67. The gross settlement would therefore come to about €2,849.85, before the applicable withholdings.
Indemnity by type of contract termination
| Type of termination | Indemnity |
|---|---|
| Unfair dismissal | 33 days/year (max. 24 months) |
| Objective dismissal | 20 days/year (max. 12 months) |
| Collective redundancy | 20 days/year (max. 12 months) |
| End of temporary contract | 12 days/year |
| Justified disciplinary dismissal | No indemnity |
| Voluntary resignation | No indemnity |
How to interpret the result
The figure obtained is a gross, indicative amount. Income tax withholding and social security contributions apply to the salary components, although dismissal indemnity is tax-exempt up to €180,000 when it does not exceed the legal limits. Before accepting the settlement as correct, check three things: that the daily wage used includes the pro-rata of bonus payments where applicable, that the outstanding holiday days match your own record, and that variable items such as commissions or allowances have been included. If something does not add up, sign with 'no conforme' and claim within the legal deadlines.
What to do if the settlement does not add up
Signing the settlement does not always mean giving up your right to claim, but it pays to do it properly. If you disagree, write 'no conforme' next to your signature before signing: signing without it can be read as acceptance and full settlement of accounts. Always ask for a copy itemised concept by concept and compare it with your payslips. To claim for dismissal the deadline is twenty working days from the effective date, a very short window that is not paused by ongoing negotiations with the company; the process starts with a conciliation request before your region's mediation body, prior to the court claim. If what you are claiming is unpaid amounts rather than the dismissal itself, the general deadline is one year. When in doubt, trade unions and employment advice services review settlements free of charge.
Indemnity by reason for termination
| Reason | Indemnity |
|---|---|
| Unfair dismissal (since 12/02/2012) | 33 días por año, máx. 24 mensualidades |
| Objective or collective dismissal | 20 días por año, máx. 12 mensualidades |
| End of a temporary contract | 12 días por año trabajado |
| Fair dismissal | Sin indemnización |
| Voluntary resignation | Sin indemnización |