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Table 1 Payroll tax components

From: The effect of payroll taxes on employment and wages under high labor informality

Contribution for % of wage rate
Pensions 16
Health care 12.5
Professional risks 2
Parafiscales  
 Training (SENA) 2
 In-kind transfers (ICBF) 3
 Compensation funds 4
Paid vacations 4.2
Severance pay 8.3
Mandatory bonuses 8.3
Total 60.3
  1. Source: Vargas (2006) and Hernández (2012).