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 |