Percentages and Rates

PeopleSoft Global Payroll for Spain calculates social security contributions and deductions either as percentages of a funding base or on the basis of fixed rates, depending on the social security contribution ID assigned to the employee. The social contribution ID defines:

• Social security employee type.

• Contribution type.

For employees with a social security employee type of regular, the contribution type is percentage. For this type of employee, PeopleSoft Global Payroll for Spain calculates contributions and deductions as a percentage of the common contingencies (CC) base, the professional contingencies (CP) base, or the structural and nonstructural overtime bases. For employees whose social security employee type is trainee, the contribution type is rate, which means that contributions and deductions are based on fixed rates. The exact rates or percentages are set by law and can vary from year to year.

Note:

View and update the percentages and rates used in the social security calculation on the Contribution page.