How to calculate your finiquito step by step, with a full example

The method: three multiplications on the daily salary

Every finiquito reduces to three components, and all three are computed from the same base number: the daily salary, which for a monthly-paid employee is the gross monthly salary divided by 30.

1. Pending salary = daily salary × days worked in the final month.
2. Untaken vacation = daily salary × pending vacation days.
3. Accrued extra payments = for each non-prorated payment, one monthly salary × (days accrued ÷ 180).

The sum of the three is the gross finiquito. IRPF withholding and social security contributions are applied to it afterwards.

Step 1: Salary for the days worked

If the contract ends mid-month, the company owes you the days worked and not yet paid. On a €1,800 salary with the contract ending on the 15th:

1,800 ÷ 30 = €60 a day → 60 × 15 = €900

The 30-day-month convention is standard for monthly salaries; daily-wage contracts settle by actual natural days.

Step 2: The vacation you never took

The legal minimum is 30 natural days per year worked (article 38), accruing at about 2.5 days per month. At the end date, count the days earned in the year, subtract those taken, and pay the rest at the daily salary.

Continuing the example: if by 15 August you have earned about 18.75 days (7.5 months × 2.5) and took 9, about 10 remain:

€60 × 10 = €600

If your collective agreement grants more than 30 days a year, the monthly accrual rises in proportion; always use your agreement's days.

Step 3: The accrued share of the extra payments

First check your payslip for prorated payments. If they are prorated, this step is €0: you have been paid monthly.

If not, each payment (normally one monthly salary) accrues over a period, six months in most agreements. The pending share is:

monthly salary × days accrued ÷ 180

With both payments half-accrued (90 days each):

1,800 × 90 ÷ 180 = €900 per payment → €1,800 across the two

If your agreement sets annual accrual, the fraction is over 360/365 days instead of 180; the logic is unchanged.

The full example, added up

You can reproduce this calculation with your own numbers in the finiquito calculator, which applies exactly these formulas and shows the same breakdown.

What this calculation does not include

Two items can appear in the same document and do not come from these formulas: the end-of-temporary-contract indemnity (12 days per year in most cases, article 49.1.c) and severance for dismissal (20 or 33 days per year depending on the cause, articles 53 and 56). Each is checked under its own rule; mixing them together is the easiest way to accept an incomplete settlement.

This information is educational and is not employment or tax advice. For a specific case, consult a labour law professional.